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Income Taxes (Tables) | 12 Months Ended
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Mar. 26, 2021
Income Tax Disclosure [Abstract] |
Schedule of Income before Income Tax, Domestic and Foreign | The components of income before income taxes include the following:
|  |  |  |  | Fiscal Year Ended
|  |  |  |  | March 26, 2021 |  | March 27, 2020 |  |
Income before provision for incomes attributable to: |  |  |  |  |  |  |  |  |
Domestic operations |  |  |  |  | $ | (2,288) |  |  | $ | 34,425 |  |  |
Foreign operations |  |  |  |  | 837 |  |  | 18,853 |  |  |
Total |  |  |  |  | $ | (1,451) |  |  | $ | 53,278 |  |  |
Schedule of Tax Provision | Significant components of the provision (benefit) for income tax are as follows:
|  |  |  |  | Fiscal Year Ended
|  |  |  |  | March 26, 2021 |  | March 27, 2020 |  |
Current: |  |  |  |  |  |  |  |  |
Federal |  |  |  |  | $ | (3,821) |  |  | $ | 15,146 |  |  |
State |  |  |  |  | 1,085 |  |  | 1,468 |  |  |
Foreign |  |  |  |  | 2,115 |  |  | 4,468 |  |  |
Total current |  |  |  |  | (621) |  |  | 21,082 |  |  |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  |  |  | (17,564) |  |  | (4,431) |  |  |
State |  |  |  |  | (1,016) |  |  | 18 |  |  |
Foreign |  |  |  |  | (351) |  |  | (496) |  |  |
Total deferred |  |  |  |  | (18,931) |  |  | (4,909) |  |  |
Total income tax provision |  |  |  |  | $ | (19,552) |  |  | $ | 16,173 |  |  |
Schedule of Income Taxes Reconciliation | The difference between the tax provision at the statutory federal tax rate and the provision for income taxes is as follows:
|  |  |  |  | Fiscal Year Ended
|  |  |  |  | March 26, 2021 |  | March 27, 2020 |  |
Tax provision at U.S. statutory rate |  |  |  |  | $ | (305) |  |  | $ | 11,189 |  |  |
Stock based compensation |  |  |  |  | (13,303) |  |  | — |  |  |
CARES carryback claim and amended returns |  |  |  |  | (3,834) |  |  | — |  |  |
PSL Divestiture |  |  |  |  | (2,009) |  |  | — |  |  |
Research and development tax credit |  |  |  |  | (2,162) |  |  | (1,841) |  |  |
FDII |  |  |  |  | — |  |  | (1,188) |  |  |
BEAT |  |  |  |  | — |  |  | 1,694 |  |  |
GILTI |  |  |  |  | — |  |  | 86 |  |  |
Transaction costs |  |  |  |  | 1,498 |  |  | — |  |  |
Foreign tax rate |  |  |  |  | 1,279 |  |  | 283 |  |  |
State income taxes, net of federal benefit |  |  |  |  | 356 |  |  | 514 |  |  |
Deferred tax remeasurement |  |  |  |  | 309 |  |  | — |  |  |
Subpart F income, net of credits |  |  |  |  | 43 |  |  | — |  |  |
Provision for uncertain tax positions |  |  |  |  | 26 |  |  | 361 |  |  |
Provision for IRS audit settlement |  |  |  |  | — |  |  | 5,491 |  |  |
Transition tax |  |  |  |  | — |  |  | — |  |  |
Gain on contingent purchase price reduction |  |  |  |  | (525) |  |  | — |  |  |
Cumulative provision-to-return |  |  |  |  | (862) |  |  | (186) |  |  |
Other |  |  |  |  | (63) |  |  | (230) |  |  |
Total income tax provision |  |  |  |  | $ | (19,552) |  |  | $ | 16,173 |  |  |
Schedule of Deferred Tax Assets and Liabilities | Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:
|  |  |  |  | March 26, 2021 |  | March 27, 2020
Deferred income tax assets: |  |  |  |  |  |  |
Net operating loss |  |  |  |  | $ | 11,054 |  |  | $ | 2,037 |
Bonuses, commissions and other compensation |  |  |  |  | 9,304 |  |  | 8,793 |
Tax credits |  |  |  |  | 8,698 |  |  | 6,600 |
Inventory and sales related |  |  |  |  | 6,304 |  |  | 6,696 |
Stock-based compensation |  |  |  |  | 821 |  |  | — |
Capitalized transaction costs |  |  |  |  | — |  |  | 259 |
Other accruals and reserves |  |  |  |  | 2,050 |  |  | 1,879 |
Gross deferred income tax assets |  |  |  |  | 38,231 |  |  | 26,264 |
Valuation allowance for deferred income tax assets |  |  |  |  | (5,025) |  |  | (4,206) |
Total deferred income tax assets |  |  |  |  | 33,206 |  |  | 22,058 |
Deferred income tax liabilities: |  |  |  |  |  |  |
Fixed assets and intangibles |  |  |  |  | (4,366) |  |  | (14,162) |
Equity method investment in PSL |  |  |  |  | (1,868) |  |  | — |
Stock-based compensation |  |  |  |  | — |  |  | (679) |
Total deferred income tax liabilities |  |  |  |  | (6,234) |  |  | (14,841) |
Net deferred income tax assets |  |  |  |  | $ | 26,972 |  |  | $ | 7,217 |
Schedule of Unrecognized Tax Benefits Roll Forward |
|  |  |  |  | Fiscal Year Ended
|  |  |  |  | March 26, 2021 |  | March 27, 2020 |  |
Beginning balance |  |  |  |  | $ | 2,559 |  |  | $ | 6,264 |  |  |
Gross increases-tax positions in prior period |  |  |  |  | 55 |  |  | 4,863 |  |  |
Gross decreases-tax positions in prior period settlement |  |  |  |  | — |  |  | (8,513) |  |  |
Lapse in statute of limitations |  |  |  |  | (60) |  |  | (55) |  |  |
Balance at end of period |  |  |  |  | $ | 2,554 |  |  | $ | 2,559 |  |  |

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