Note 9 - Income Taxes

9 Months Ended

Nov. 26, 2017

Notes to Financial Statements

Income Tax Disclosure [Text Block]

9

.

INCOME TAXES

The Company

’s effective tax rates for the

13

weeks and

39

weeks ended

November 26, 2017

were materially different as compared to the

13

weeks and

39

weeks ended

November 27, 2016.

The lower effective tax rates were primarily due to the mix of earnings and losses in different jurisdictions during the

13

weeks and

39

weeks ended

November 26, 2017

a

nd the reversal of a tax reserve of

$688

related to certain foreign tax deductions taken in prior years.

The Company continuously evaluates the liquidity and capital requirements of its operations in the United States and of its foreign operations. As a result of such evaluation during the

2014

fiscal year, the Company recorded a non-cash charge for the accrual of U.S. deferred income taxes in the amount of

$63,958

on undistributed earnings of the Company’s subsidiary in Singapore. As a result of such evaluations, the Company repatriated

$11,250,

$6,800

and

$61,000

in cash from the Company’s subsidiary in Singapore in the

2018,

2017

and

2016

fiscal years, respectively. See Note

13,

“Subsequent Events”, elsewhere in this Report.