Note 11 - Income Taxes (Tables)

12 Months Ended

Jun. 30, 2019

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Years ended
	June 30, 2019			July 1, 2018			July 2, 2017
	(in thousands)
Current provision:
Federal	$	2,809		$	3,385		$	11,859
State		2,710			1,514			1,758
Foreign		-			-			-
Current income tax expense		5,519			4,899			13,617
Deferred provision (benefit):
Federal		3,138			(9,331	)		(1,563	)
State		(427	)		1,648			(90	)
Foreign		(13	)		15			4
Deferred income tax expense (benefit)		2,698			(7,668	)		(1,649	)
Income tax expense (benefit)	$	8,217		$	(2,769	)	$	11,968

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Years ended
	June 30, 2019			July 1, 2018			July 2, 2017
Tax at U.S. statutory rates		21.0	%		28.0	%		35.0	%
State income taxes, net of federal tax benefit		4.4			5.7			2.3
Valuation allowance change		(0.3	)		2.6			14.9
Non-deductible compensation		0.7			-			-
Excess tax benefit from stock-based compensation		(4.4	)		(1.6	)		(1.6	)
Domestic production deduction		-			(2.0	)		(2.1	)
Tax credits		(1.8	)		(2.5	)		(1.7	)
Tax Act impact on deferred tax balance (1)		-			(32.0	)		-
Return to provision		(1.0	)		(5.8	)		-
Tax effect of Fannie May disposition		-			-			(25.3	)
Other, net		0.5			0.3			(0.1	)
Effective tax rate		19.1	%		(7.3	)%		21.4	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	Years ended
	June 30, 2019			July 1, 2018
	(in thousands)
Deferred income tax assets:
Loss and credit carryforwards	$	10,955		$	11,286
Accrued expenses and reserves		3,866			3,871
Stock-based compensation		1,798			1,344
Deferred compensation		2,150			1,711
Gross deferred income tax assets		18,769			18,212
Less: Valuation allowance		(9,872	)		(9,972	)
Deferred tax assets, net		8,897			8,240
Deferred income tax liabilities:
Other intangibles		(14,664	)		(14,983	)
Tax in excess of book depreciation		(23,131	)		(19,457	)
Deferred tax liabilities		(37,795	)		(34,440	)
Net deferred income tax liabilities	$	(28,898	)	$	(26,200	)