Income Taxes

3 Months Ended

Mar. 28, 2026

Income Taxes [Abstract]

INCOME TAXES

NOTE 8 - INCOME TAXES

The Company's 2026 and 2025 effective tax rates differ from the statutory federal tax rate due principally to the availability of research and development tax credits, state income taxes, and the nondeductibility of certain executive compensation. The Company’s effective income tax rate was 271.6% and 20.3% for the three months ended March 28, 2026 and March 29, 2025, respectively. The discrete nature of these tax credits yields an effective tax rate for the period that is not meaningful at low earnings levels.

The Company did not make any income tax payments during the three months ended March 28, 2026. Income tax payments totaled $2.0 million for the three months ended March 29, 2025.

The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal and state income tax examinations by tax authorities for years before 2021.

The Company does not believe it has included any “uncertain tax positions” in its federal income tax return or any of the state income tax returns it is currently filing. The Company has made an evaluation of the potential impact of additional state taxes being assessed by jurisdictions in which the Company does not currently consider itself liable. The Company does not anticipate that such additional taxes, if any, would result in a material change to its financial position.