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Income Taxes
3 Months Ended
Sep. 27, 2013
Income Tax Disclosure [Abstract]  
Federal and State Income Taxes
Income Taxes

During the fourth quarter ended June 30, 2013, the Company concluded it was more likely than not that the deferred tax assets will be realized and the Company reversed the valuation allowance in the amount of $25,646. Based upon the ongoing assessment of available positive and negative evidence, the Company concluded the deferred tax assets will more likely than not be realized. As such, a valuation allowance is not established.
The Company's effective tax rate was approximately 40.6% for the three months ended September 27, 2013, compared to approximately 5.2% for the same period in the prior year. The primary reconciling items between the federal statutory rate of 35.0% and the Company's overall effective tax rate were the effect of state income taxes for the three months ended September 27, 2013, and the effect in the prior year of the valuation allowance the Company maintained against its net deferred tax assets which substantially offset statutory income tax.

As of September 27, 2013, the recorded liability for uncertain tax positions under the measurement criteria of Accounting Standards Codification ("ASC") Topic 740, Income Taxes, was $531. The Company does not expect the amount of unrecognized tax benefits to materially change within the next twelve months.
As of September 27, 2013, the Company had a tax benefit of approximately $7,760 related to excess tax benefits from stock compensation. Pursuant to ASC Topic 718, a benefit of $3,050 was recorded to additional paid in capital as it reduced income taxes payable during the three months ended September 27, 2013.