Note 12 - Income Taxes

6 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Text Block]

12.

Income Taxes

The effective tax rate was

53.6%

and

29.9%

for the

six

month periods ended

September 30, 2017

and

October 1, 2016,

respectively. The

23.7%

percentage point increase in the effective tax rate represents an increase in tax benefit as a percentage of book loss when compared to the same period last year. The major contributors to this increase are a result of the Truitt acquisition. The bargain purchase gain is non-taxable and the deferred tax liability related to the outside basis difference in the Truitt investment was written off because the investment can now be recovered in a tax-free manner.