Income Taxes

6 Months Ended

Oct. 28, 2012

Income Taxes

Income Taxes

11.  Income Taxes

Our effective income tax rates from continuing operations for the three and six months ended October 28, 2012 were 21.4% and 25.1%, respectively, of pretax income. Our effective income tax rates from continuing operations for the three and six months ended October 23, 2011 were 37.7% and 37.8%, respectively, of pretax income. Our income tax provision (benefit) from continuing operations and our effective rate are based on statutory rates applied to our income adjusted for permanent differences and to account for changes in valuation allowances.  Our actual effective rate will fluctuate based upon the amount of our pretax book income, permanent differences and other items, including fluctuations in valuation allowances, used in the calculation of our income tax benefit.

A summary of our income tax provision from continuing operations is as follows:

	Three Months Ended						Six Months Ended
	October 28,			October 23,			October 28,			October 23,
	2012			2011			2012			2011
Federal taxes	$	(1,933	)	$	(578	)	$	189		$	(2,020	)
State taxes	(218		)	(129		)	29			(418		)
Permanent differences	405			303			661			533
Tax credits	(355		)	(370		)	(710		)	(596		)
Other	(94		)	152			20			318
Valuation allowance	1,013			—			(53		)	—
Income tax (benefit) provision from continuing operations	$	(1,182	)	$	(622	)	$	136		$	(2,183	)