Income Taxes

9 Months Ended

Sep. 27, 2016

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The following table presents the Company’s provision (benefit) for income taxes (in thousands):

	Fiscal Quarter Ended						Three Fiscal Quarters Ended
	September 27, 2016			September 29, 2015			September 27, 2016			September 29, 2015
Provision (benefit) for income taxes	$	41		$	(5,872	)	$	1,124		$	(5,911	)
Effective tax rate	(0.4		)%	37.4		%	(4.5		)%	38.3		%

During the first three quarters of 2016, the Company recorded a valuation allowance of $0.9 million against U.S. and Canadian deferred tax assets and recognized a provision for income taxes for discrete and certain other items. This resulted in the Company recording a net provision for income taxes of $1.1 million during the first three quarters of 2016.

The Company will maintain the valuation allowance against deferred tax assets until there is sufficient evidence to support a full or partial reversal. The reversal of a previously recorded valuation allowance will generally result in a benefit to the effective tax rate. The effective tax rate for the third quarter of 2016 and the first three quarters of 2016 reflects the impact of a valuation allowance on deferred tax assets. For the remainder of fiscal 2016, the Company does not anticipate material income tax expense or benefit as a result of the valuation allowance recorded.