Income Taxes	9 Months Ended
Sep. 29, 2012
Income Taxes	NOTE N – INCOME TAXES Total deferred income tax assets for the Company’s foreign subsidiaries relating to net operating loss carryforwards were $15.0 million and $14.9 million at September 29, 2012 and December 31, 2011, respectively. The related valuation allowance was $12.0 million and $11.8 million at September 29, 2012 and December 31, 2011, respectively. The Company’s effective tax rate decreased to 25.1% for the nine months ended September 29, 2012 from 27.9% for the nine months ended October 1, 2011. The Company’s tax rate continues to be lower than the statutory tax rate in the United States primarily as a result of favorable tax rates in foreign jurisdictions. Significant judgment is required in determining the Company’s worldwide provision for income taxes. In the ordinary course of a global business, there are many transactions for which the ultimate tax outcome is uncertain. The Company reviews its tax contingencies on a regular basis and makes appropriate accruals as necessary. The effective income tax rate for 2012 and 2011 includes a reduction in the statutory corporate tax rates for the Company’s operations in Switzerland. The favorable tax rate ruling requires the Company to maintain a certain level of manufacturing operations in Switzerland. The aggregate dollar effect of this favorable tax rate was approximately $0.7 million, or $0.04 per share, in the nine month period ended September 29, 2012, and $0.7 million, or $0.04 per share, in the nine month period ended October 1, 2011. In 2005, the Company opened a regional headquarters and began to manufacture certain of its products in Singapore. In the third quarter of 2006, the Company received confirmation of a tax holiday for its operations from the Singapore Economic Development Board for a period of four years commencing January 1, 2006 and an additional six year extension at favorable tax rates subject to certain terms and conditions, including employment, spending, and capital investment, with which the Company expects to continue to comply. The aggregate dollar effect of this favorable tax rate was approximately $0.3 million, or $0.02 per share, during the nine month period ended September 29, 2012, and $0.3 million, or $0.02 per share, in the nine month period ended October 1, 2011.

Income Taxes

9 Months Ended

Sep. 29, 2012

NOTE N – INCOME TAXES

Total deferred income tax assets for the Company’s foreign subsidiaries relating to net operating loss carryforwards were $15.0 million and $14.9 million at September 29, 2012 and December 31, 2011, respectively. The related valuation allowance was $12.0 million and $11.8 million at September 29, 2012 and December 31, 2011, respectively. The Company’s effective tax rate decreased to 25.1% for the nine months ended September 29, 2012 from 27.9% for the nine months ended October 1, 2011. The Company’s tax rate continues to be lower than the statutory tax rate in the United States primarily as a result of favorable tax rates in foreign jurisdictions. Significant judgment is required in determining the Company’s worldwide provision for income taxes. In the ordinary course of a global business, there are many transactions for which the ultimate tax outcome is uncertain. The Company reviews its tax contingencies on a regular basis and makes appropriate accruals as necessary.

The effective income tax rate for 2012 and 2011 includes a reduction in the statutory corporate tax rates for the Company’s operations in Switzerland. The favorable tax rate ruling requires the Company to maintain a certain level of manufacturing operations in Switzerland. The aggregate dollar effect of this favorable tax rate was approximately $0.7 million, or $0.04 per share, in the nine month period ended September 29, 2012, and $0.7 million, or $0.04 per share, in the nine month period ended October 1, 2011.

In 2005, the Company opened a regional headquarters and began to manufacture certain of its products in Singapore. In the third quarter of 2006, the Company received confirmation of a tax holiday for its operations from the Singapore Economic Development Board for a period of four years commencing January 1, 2006 and an additional six year extension at favorable tax rates subject to certain terms and conditions, including employment, spending, and capital investment, with which the Company expects to continue to comply. The aggregate dollar effect of this favorable tax rate was approximately $0.3 million, or $0.02 per share, during the nine month period ended September 29, 2012, and $0.3 million, or $0.02 per share, in the nine month period ended October 1, 2011.