Note 10 - Income Taxes (Tables)

12 Months Ended

Sep. 28, 2019

Notes Tables

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

	Year Ended
	September 28,			September 29,			September 30,
(Dollars in thousands)	2019			2018			2017
Current:
Federal	$	(126	)	$	8,265		$	8,269
State		185			906			848
		59			9,171			9,117
Deferred:
Federal		1,649			(2,862	)		2,455
State		149			55			48
		1,798			(2,807	)		2,503
Income taxes	$	1,857		$	6,364		$	11,620
Effective income tax rate		24.9	%		14.9	%		34.0	%

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

	Year Ended
(Dollars in thousands)	September 28, 2019					September 29, 2018					September 30, 2017
Provision for income taxes at federal statutory rate	$	1,566		21.0	%	$	10,444		24.5	%	$	11,959		35.0	%
State income taxes, net of federal tax benefit		297		4.0			739		1.7			598		1.8
Stock-based compensation		90		1.2			(634	)	(1.5	)		-		-
Valuation allowance		24		0.3			(18	)	(0.0	)		(29	)	(0.1	)
Federal tax return true-up		(142	)	(1.9	)		(147	)	(0.3	)		-		-
Change in federal tax rate - Tax Cuts and Jobs Act		-		-			(3,307	)	(7.8	)		-		-
Qualified production activities deduction		-		-			(832	)	(2.0	)		(768	)	(2.2	)
Other, net		22		0.3			119		0.3			(140	)	(0.5	)
Provision for income taxes	$	1,857		24.9	%	$	6,364		14.9	%	$	11,620		34.0	%

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

	September 28,			September 29,
(In thousands)	2019			2018
Deferred tax assets:
Defined benefit plans	$	2,661		$	2,302
Stock-based compensation		1,259			1,120
Accrued expenses and asset reserves		1,207			1,939
Federal net operating loss carryforward		363			-
State net operating loss carryforwards and tax credits		120			233
Valuation allowance		(257	)		(233	)
Deferred tax assets		5,353			5,361
Deferred tax liabilities:
Plant and equipment		(10,625	)		(9,490	)
Prepaid insurance		(1,311	)		(1,041	)
Goodwill		(317	)		(170	)
Deferred tax liabilities		(12,253	)		(10,701	)
Net deferred tax liability	$	(6,900	)	$	(5,340	)