XML 44 R33.htm IDEA: XBRL DOCUMENT v3.25.2

Income Taxes (Tables)

12 Months Ended

Jun. 29, 2025

Income Tax Disclosure [Abstract]

Summary of Income Tax Expense

Income tax expense is summarized as following (in thousands):

		Years Ended
		June 29, 2025				June 30, 2024
Current:
Federal		$	4,726			$	4,466
State			336				619
Foreign			2,545				3,401
			7,607				8,486
Deferred:
Federal			(1,103	)			(3,988	)
State			(138	)			(538	)
Foreign			(649	)			(185	)
			(1,890	)			(4,711	)
Total income tax expense		$	5,717			$	3,775

Reconciliation at the Federal Statutory Rate to the Effective Tax Rate

A reconciliation at the federal statutory rate to the effective tax rate is summarized in the following table:

		Years Ended
		June 29, 2025				June 30, 2024
Federal statutory rate			21.0	%			21.0	%
State taxes, net of federal tax benefit			1.0				2.7
Foreign subsidiaries			(1.7	)			5.4
China non-resident capital gain tax			—				(1.6	)
Valuation allowance			4.9				2.6
Return to provision adjustment			1.1				(6.1	)
Research and development tax credit			(6.0	)			(8.1	)
Non-controlling interest			0.4				2.3
Stock-based compensation			(0.1	)			0.7
Other			2.6				(0.2	)
Effective income tax rate			23.2	%			18.7	%

Components of Deferred Tax (Liabilities) Assets

The components of deferred tax (liabilities) assets were as follows (in thousands):

		June 29, 2025				June 30, 2024
Deferred tax assets:
Research and development costs		$	10,396			$	8,598
Compensation and employee benefits			6,472				5,894
Other accrued expenses			4,871				4,672
Capital loss and credit carryforwards			4,923				3,576
Lease liabilities			739				931
Other			1,296				1,714
Gross deferred tax assets			28,697				25,385
Valuation allowance			(3,865	)			(2,569	)
Net deferred tax assets			24,832				22,816
Deferred tax liabilities:
Property, plant and equipment			(3,167	)			(3,455	)
Lease right of use assets			(662	)			(856	)
Other			(1,472	)			(912	)
Gross deferred tax liabilities			(5,301	)			(5,223	)
Net deferred tax assets		$	19,531			$	17,593

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration