Income Taxes	3 Months Ended
Mar. 30, 2013
Income Taxes	NOTE N – INCOME TAXES Total deferred income tax assets for the Company’s foreign subsidiaries relating to net operating loss carryforwards were $14.8 million at March 30, 2013 and December 31, 2012, respectively. The related valuation allowance was $11.8 million at March 30, 2013 and December 31, 2012, respectively. The Company’s effective tax rate decreased to 18.4% for the three months ended March 30, 2013 from 22.1% for the three months ended March 31, 2012 and included a reduction in the income tax rate of 1.4% and 5.0%, respectively, related to the tax benefit of the exercise of employee stock options. The effective tax rate for the three months ended March 30, 2013 also includes the discrete tax benefit of 7.5% related to the retroactive legislative reinstatement on January 2, 2013 of the Research and Development tax credit for the year ended December 31, 2012, which is required to be included in the period the reinstatement was enacted into law. 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 the three months ended March 30, 2013 and 2012 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 $0.4 million, or $0.03 per share, in the three month period ended March 30, 2013, and $0.3 million, or $0.02 per share, in the three month period ended March 31, 2012. 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. The Company and the Singapore Economic Development Board mutually agreed to end the program as of December 31, 2011, as the Company has expanded its operations in other locations within Asia to meet market demand. The aggregate dollar effect of this favorable tax rate was approximately $0.1 million, or $0.01 per share, during the three month period ended March 31, 2012.

Income Taxes

3 Months Ended

Mar. 30, 2013

NOTE N – INCOME TAXES

Total deferred income tax assets for the Company’s foreign subsidiaries relating to net operating loss carryforwards were $14.8 million at March 30, 2013 and December 31, 2012, respectively. The related valuation allowance was $11.8 million at March 30, 2013 and December 31, 2012, respectively. The Company’s effective tax rate decreased to 18.4% for the three months ended March 30, 2013 from 22.1% for the three months ended March 31, 2012 and included a reduction in the income tax rate of 1.4% and 5.0%, respectively, related to the tax benefit of the exercise of employee stock options. The effective tax rate for the three months ended March 30, 2013 also includes the discrete tax benefit of 7.5% related to the retroactive legislative reinstatement on January 2, 2013 of the Research and Development tax credit for the year ended December 31, 2012, which is required to be included in the period the reinstatement was enacted into law. 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 the three months ended March 30, 2013 and 2012 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 $0.4 million, or $0.03 per share, in the three month period ended March 30, 2013, and $0.3 million, or $0.02 per share, in the three month period ended March 31, 2012.

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. The Company and the Singapore Economic Development Board mutually agreed to end the program as of December 31, 2011, as the Company has expanded its operations in other locations within Asia to meet market demand. The aggregate dollar effect of this favorable tax rate was approximately $0.1 million, or $0.01 per share, during the three month period ended March 31, 2012.