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Income Taxes
 9 Months Ended
Jan. 25, 2025
Income Taxes  
Income Taxes

14. Income Taxes

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For the three and nine months ended January 25, 2025, the Company recorded an income tax benefit of $(605,000), and an income tax expense of $659,000 yielding an effective tax rate of 25.6% and 2.5%, respectively. For the three and nine months ended January 27, 2024, the Company recorded an income tax expense provision of $1,259,000 and $3,710,000, respectively, yielding an effective tax rate of 8.3% and 6.3%, respectively. The variance from statutory rates for the three months ended January 25, 2025 was primarily due to the loss before income taxes for the three months ended January 25, 2025. The variance from statutory rates for the nine months ended January 25, 2025 was primarily due to the decrease in income before taxes, offset by a decrease in foreign-derived intangible income (“FDII”) deductions and, federal R&D credits. The variance from statutory rates for the three and nine months ended January 27, 2024 was primarily due to an increase in profit before taxes, foreign derived intangible income deductions and federal R&D credits.