Income Taxes

3 Months Ended

Jun. 29, 2012

Income Taxes [Abstract]

Income Taxes

Note 9 — Income Taxes

The Company currently estimates its annual effective income tax rate to be approximately 42.6% for fiscal year 2013. The estimated annual effective income tax rate reflects the December 31, 2011 expiration of the federal research and development tax credit. If the federal research and development tax credit is reinstated, the Company may have a lower annual effective tax rate for fiscal year 2013, and the amount of any such tax rate reduction will depend on the effective date of any such reinstatement, the terms of the reinstatement, as well as the amount of eligible research and development expenses in the reinstated period. The estimated effective tax rate is different from the expected statutory rate primarily due to state research and development tax credits.

For the three months ended June 29, 2012, the Company’s gross unrecognized tax benefits increased by $2.3 million. In the next twelve months, it is reasonably possible that the amount of unrecognized tax benefits will decrease by up to approximately $2.4 million as a result of the expiration of the statute of limitations or settlements with tax authorities for previously filed tax returns.