Income Taxes

9 Months Ended

Oct. 01, 2019

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
	October 1, 2019			October 2, 2018			October 1, 2019			October 2, 2018
Provision (benefit) for income taxes	$	64		$	(11	)	$	64		$	(259	)
Effective tax rate	1.5		%	(1.1		)%	2.2		%	3.0		%

The effective tax rate for the third quarter of 2019 and the first three quarters of 2019 reflect the impact of the previously recorded valuation allowance. For the remainder of fiscal 2019, the Company does not anticipate material income tax expense or benefit as a result of the valuation allowance recorded. 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 from income tax. The effective tax rates for the third quarter of 2018 and the first three quarters of 2018 reflected changes made by the Tax Cuts and Jobs Act (“Tax Act”), which was signed into law in December 2017.