Income Taxes (Tables)

12 Months Ended

Sep. 27, 2014

Income Taxes [Abstract]

Components Of Income Before Income Taxes

The components of income before income taxes for the fiscal years ended September 27, 2014,
September 28, 2013, and September 29, 2012 were as follows:
		2014		2013		2012
		(expressed in thousands)
Income before income taxes:
Domestic	$	32,867	$	49,921	$	45,152
Foreign		25,576		29,333		34,628
Total	$	58,443	$	79,254	$	79,780

Provision For Income Taxes

The provision for income taxes for the fiscal years ended September 27, 2014, September 28, 2013,
and September 29, 2012 was as follows:
		2014		2013		2012
		(expressed in thousands)
Current provision (benefit):
Federal	$	7,503	$	13,241	$	16,834
State		842		781		1,058
Foreign		13,056		8,618		11,575
Deferred		(4,967)		(1,192)		(1,243)
Total provision	$	16,434	$	21,448	$	28,224

Reconciliation From The Federal Statutory Income Tax Rate To The Effective Income Tax Rate

A reconciliation from the federal statutory income tax rate to the Company’s effective income tax rate for the fiscal
years ended September 27, 2014, September 28, 2013, and September 29, 2012 is as follows:
	2014		2013		2012
United States federal statutory income tax rate	35	%	35	%	35	%
Impact from foreign operations	(1)		(1)		(2)
State income taxes, net of federal benefit	1		1		1
Research and development tax credits	(5)		(5)		(1)
Domestic production activities deduction	(2)		(2)		(2)
Foreign tax credits	(2)		-		-
Change in valuation allowances	-		-		(1)
Nondeductible expense to settle U.S. Government investigation	-		-		4
Nondeductible stock option expense and other permanent items	2		(1)		1
Effective income tax rate	28	%	27	%	35	%

Summary Of The Deferred Tax Assets And Liabilities

A summary of the deferred tax assets and liabilities for the fiscal years ended September 27, 2014 and
September 28, 2013 is as follows:
		2014		2013
		(expressed in thousands)
Deferred Tax Assets:
Accrued compensation and benefits	$	11,604	$	8,826
Inventory reserves		5,060		4,264
Intangible and other assets		2,684		3,081
Allowance for doubtful accounts		644		380
Net operating loss carryovers		277		376
Research and development tax credit carryovers		326		-
Other		314		320
Total deferred tax asset before valuation allowance		20,909		17,247
Less valuation allowance		(442)		(105)
Total Deferred Tax Assets	$	20,467	$	17,142
Deferred Tax Liabilities:
Property and equipment	$	8,557	$	10,222
Foreign deferred revenue and other		2,541		3,246
Unrealized derivative instrument gains		269		670
Total Deferred Tax Liabilities	$	11,367	$	14,138
Net Deferred Tax Assets	$	9,100	$	3,004

Summary Of Changes In Liability For Unrecognized Tax Benefits

		2014		2013
	(expressed in thousands)
Beginning balance	$	4,311	$	1,666
Increase due to tax positions related to the current year		659		913
Increase (decrease) due to tax positions related to prior years		1,068		1,726
Decrease due to lapse of statute of limitations		(47)		-
Exchange rate change		(1)		6
Ending balance	$	5,990	$	4,311