Note 11 - Income Taxes

3 Months Ended

Apr. 04, 2026

Notes to Financial Statements

Income Tax Disclosure [Text Block]

Note 11 - Income Taxes

We are subject to federal and state income tax as well as income tax in the foreign jurisdictions in which we operate.

For the first quarter of fiscal 2026 and 2025, we recorded income tax expense of $5.4 million and $3.0 million, respectively. Income taxes for the three-month period ended April 4, 2026 and March 29, 2025 represent tax at the federal, state, and foreign statutory tax rates in addition to federal tax credits, stock-based compensation and other non-deductible items in federal, state, and foreign jurisdictions. The difference between the U.S. federal statutory tax rate of 21% and our effective tax rates for the three months ended April 4, 2026 and the three months ended March 29, 2025 resulted primarily from stock-based compensation expense, partially offset by foreign rate differentials.

The portion of our uncertain tax positions (including penalties and interest) recorded as a liability was $2.1 million at both  April 4, 2026 and January 3, 2026, and is included as a component of Other long-term liabilities on our Consolidated Balance Sheets.