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Income Taxes
 6 Months Ended
Jun. 29, 2013
Income Taxes [Abstract]  
Income Taxes

Note 8—Income Taxes

 

The following table sets forth the Company’s provision for income taxes, along with the corresponding effective tax rates (in thousands, except percentages):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

June 29,

 

 

June 30,

 

 

June 29,

 

 

June 30,

 

 

 

2013

 

 

2012

 

 

2013

 

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income taxes

$
1 

 

$
1 

 

$
3 

 

$
1 

 

Effective tax rate

 
(0.0)

%

 
(0.0)

%

 
(0.0)

%

 
(0.0)

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company evaluates whether a valuation allowance should be established against its deferred tax assets based on the consideration of all available evidence using a “more likely than not” standard.  Due to uncertainty of future utilization, the Company has provided a full valuation allowance as of June 29, 2013 and December 29, 2012. Accordingly, no benefit has been recognized for net deferred tax assets. 

 

The Company does not have any unrecognized tax benefits at June 29, 2013 and December 29, 2012.