XML 27 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Income Taxes
3 Months Ended
Sep. 28, 2013
Income Tax Disclosure [Abstract]  
Income Taxes

 (8) Income Taxes

At December 29, 2012, the Company had approximately $3,303 thousand of net operating loss carryforwards available to offset future income for U.S. Federal income tax purpose.

 

The Company recorded a tax expense of $159 thousand and $242 thousand for federal income taxes and a tax expense of $45 thousand and $69 thousand for state income taxes during the three and nine months ended September 28, 2013.

 

The Company has a current and non-current deferred tax asset aggregating $2,593 thousand and $2,787 thousand on the Company`s balance sheet at September 28, 2013 and December 29, 2012, respectively. The Company believes that it will generate sufficient future taxable income to realize the tax benefits related to the remaining deferred tax assets and as such no valuation allowance has been provided against the deferred tax asset.