Income Taxes

9 Months Ended

Jan. 27, 2013

Income Taxes

Income Taxes

11.  Income Taxes

Our effective income tax rates from continuing operations for the three and nine months ended January 27, 2013 were 23.2% and 21.7%, respectively, of pretax income. Our effective income tax rates from continuing operations for the three and nine months ended January 22, 2012 were 38.8% and 37.9%, 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 benefit from continuing operations is as follows:

	Three Months Ended						Nine Months Ended
	January 27,			January 22,			January 27,			January 22,
	2013			2012			2013			2012
Federal taxes	$	(457	)	$	(180	)	$	(268	)	$	(2,201	)
State taxes	(67		)	(55		)	(38		)	(473		)
Permanent differences	337			347			998			880
Tax credits	(355		)	(436		)	(1,066		)	(1,032		)
Other	76			124			96			443
Valuation allowance	164			—			112			—
Income tax benefit from continuing operations	$	(302	)	$	(200	)	$	(166	)	$	(2,383	)