| Income Tax Disclosure [Abstract] | Period [Axis] |
|---|
2016-01-03 - 2016-12-31 |
|---|
Income Tax Disclosure [Abstract] | |
Income Before (Benefit from) Provision for Income Taxes |
Income before (benefit from) provision for income taxes was comprised of the following:
|
|
|
FY 2016 |
|
|
FY 2015 |
|
|
FY 2014 |
|
|
|
|
Year Ended |
|
|
Year Ended |
|
|
Year Ended |
|
|
|
|
December 31, 2016 |
|
|
January 2, 2016 |
|
|
January 3, 2015 |
|
|
United States |
|
$ |
(2,656 |
) |
|
$ |
291 |
|
|
$ |
1,332 |
|
|
Foreign |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Total |
|
$ |
(2,656 |
) |
|
$ |
291 |
|
|
$ |
1,332 |
|
|
Provision for (Benefit from) Income Taxes |
The provision for (benefit from) income taxes includes:
|
|
|
FY 2016 |
|
|
FY 2015 |
|
|
FY 2014 |
|
|
|
|
Year Ended |
|
|
Year Ended |
|
|
Year Ended |
|
|
|
|
December 31, 2016 |
|
|
January 2, 2016 |
|
|
January 3, 2015 |
|
|
Current: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
$ |
- |
|
|
$ |
(4 |
) |
|
$ |
54 |
|
|
State |
|
|
4 |
|
|
|
30 |
|
|
|
16 |
|
|
|
|
|
4 |
|
|
|
26 |
|
|
|
70 |
|
|
Deferred: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Federal |
|
|
9,271 |
|
|
|
(12 |
) |
|
|
(7,862 |
) |
|
State |
|
|
(218 |
) |
|
|
(197 |
) |
|
|
(914 |
) |
|
|
|
|
9,053 |
|
|
|
(209 |
) |
|
|
(8,776 |
) |
|
Provision for (benefit from) income taxes |
|
$ |
9,057 |
|
|
$ |
(183 |
) |
|
$ |
(8,706 |
) |
|
Effective Tax Rate Differs from the Statutory Federal Income Tax Rate |
Our effective tax rate differs from the statutory federal income tax rate as shown in the following schedule:
|
|
|
FY 2016
Year Ended
December 31,
2016 |
|
|
FY 2015
Year Ended
January 2,
2016 |
|
|
FY 2014
Year Ended
January 3,
2015 |
|
|
Income tax provision at statutory rate |
|
|
34.0 |
% |
|
|
34.0 |
% |
|
|
34.0 |
% |
|
State income taxes, net of federal benefit |
|
|
9.6 |
% |
|
|
(70.8 |
)% |
|
|
(68.0 |
)% |
|
Permanent differences |
|
|
(1.5 |
)% |
|
|
12.0 |
% |
|
|
(1.1 |
)% |
|
Research and development credits |
|
|
3.0 |
% |
|
|
(34.8 |
)% |
|
|
(2.6 |
)% |
|
Change in valuation allowance |
|
|
(387.4 |
)% |
|
|
— |
|
|
|
(613.5 |
)% |
|
Other |
|
|
1.3 |
% |
|
|
(3.3 |
)% |
|
|
(2.4 |
)% |
|
Effective tax rate |
|
|
(341.0 |
)% |
|
|
(62.9 |
)% |
|
|
(653.6 |
)% |
|
Tax Effect of Temporary Differences and Carryforwards that Give Rise to Significant Portions of the Net Deferred Tax Assets |
The tax effect of temporary differences and carryforwards that give rise to significant portions of the net deferred tax assets are presented below (in thousands):
|
|
|
FY 2016
December 31,
2016 |
|
|
FY 2015
January 2,
2016 |
|
|
Net operating losses |
|
$ |
4,411 |
|
|
$ |
4,135 |
|
|
Research and development credits |
|
|
2,113 |
|
|
|
1,820 |
|
|
Accruals and reserves |
|
|
2,158 |
|
|
|
1,823 |
|
|
Deferred revenue |
|
|
104 |
|
|
|
120 |
|
|
Property and equipment |
|
|
396 |
|
|
|
399 |
|
|
Intangible assets |
|
|
783 |
|
|
|
792 |
|
|
Stock compensation |
|
|
972 |
|
|
|
613 |
|
|
Other tax credits |
|
|
90 |
|
|
|
89 |
|
|
Net deferred tax asset |
|
|
11,027 |
|
|
|
9,791 |
|
|
Valuation allowance |
|
|
(11,095 |
) |
|
|
(806 |
) |
|
Net deferred tax (liabilities) assets |
|
$ |
(68 |
) |
|
$ |
8,985 |
|
|
A Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits |
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
|
|
|
FY 2016
Year Ended
December 31,
2016 |
|
|
FY 2015
Year Ended
January 2,
2016 |
|
|
FY 2014
Year Ended
January 3,
2015 |
|
|
Balance at the beginning of the year |
|
$ |
937 |
|
|
$ |
861 |
|
|
$ |
1,027 |
|
|
Additions based upon tax positions related to the current year |
|
|
75 |
|
|
|
73 |
|
|
|
53 |
|
|
Additions based upon tax positions related to the prior year |
|
|
17 |
|
|
|
— |
|
|
|
51 |
|
|
Reductions based upon tax positions related to the prior year |
|
|
- |
|
|
|
3 |
|
|
|
(270 |
) |
|
Balance at the end of the year |
|
$ |
1,029 |
|
|
$ |
937 |
|
|
$ |
861 |
|
|