XML 48 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes
 3 Months Ended
Mar. 30, 2013
Income Taxes [Abstract]  
Income Taxes
4.         Income Taxes
 
The provision for income taxes was $1,967,000 and $3,138,000 in the first quarters of 2013 and 2012, respectively, and represented 27% and 31% of pre-tax income. The effective tax rate of 27% in the first quarter of 2013 was lower than the Company's statutory rate primarily due to the reduction of the 2012 U.S. tax cost of foreign earnings and a benefit from the 2012 U.S. research and development tax credit, both of which resulted from U.S. tax legislation enacted in January 2013. Also, the effective tax rate was lower due to a statutory tax rate change in our overseas operations and the distribution of the Company's worldwide earnings. The effective tax rate of 31% in the first quarter of 2012 was lower than the Company's statutory rate primarily due to the distribution of worldwide earnings and the expected utilization of foreign tax credits that were fully reserved in prior periods, the latter of which was due to an increase in the estimated 2012 income in the U.S.