Income Taxes (Tables)
|
12 Months Ended |
Jan. 02, 2016 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Components of Loss Before Income Taxes |
The components of loss before income tax provision consist of the following:
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|
|
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|
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|
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|
|
Fiscal Year Ended |
|
January 2, 2016 |
|
January 3, 2015 |
|
December 28, 2013 |
Domestic operations |
$ |
(3,718 |
) |
|
$ |
(7,424 |
) |
|
$ |
(16,155 |
) |
Foreign operations |
483 |
|
|
476 |
|
|
564 |
|
Total loss before income taxes |
$ |
(3,235 |
) |
|
$ |
(6,948 |
) |
|
$ |
(15,591 |
) |
|
| Summary of Income Tax (Benefit) Provision |
Income tax (benefit) provision for fiscal year 2015, 2014 and 2013 consists of the following:
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Fiscal Year Ended |
|
January 2, 2016 |
|
January 3, 2015 |
|
December 28, 2013 |
Current: |
|
|
|
|
|
Federal tax |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
State tax |
7 |
|
|
(15 |
) |
|
20 |
|
Foreign tax |
88 |
|
|
78 |
|
|
(37 |
) |
Total current taxes |
95 |
|
|
63 |
|
|
(17 |
) |
Deferred: |
|
|
|
|
|
Federal tax |
(1,887 |
) |
|
(2,232 |
) |
|
(5,260 |
) |
State tax |
591 |
|
|
(125 |
) |
|
(1,353 |
) |
Foreign tax |
61 |
|
|
74 |
|
|
60 |
|
Total deferred taxes |
(1,235 |
) |
|
(2,283 |
) |
|
(6,553 |
) |
Valuation allowance |
329 |
|
|
2,358 |
|
|
6,613 |
|
Income tax (benefit) provision |
$ |
(811 |
) |
|
$ |
138 |
|
|
$ |
43 |
|
|
| Summary of Differences Between Income Tax Provision (Benefit) and Applied Federal Statutory Rate |
Income tax (benefit) provision differs from the amount that would result from applying the federal statutory rate as follows:
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|
|
|
|
|
January 2, 2016 |
|
January 3, 2015 |
|
December 28, 2013 |
Income tax at U.S. federal statutory rate |
$ |
(1,100 |
) |
|
$ |
(2,362 |
) |
|
$ |
(5,301 |
) |
Share-based compensation |
50 |
|
|
33 |
|
|
43 |
|
State income tax, net of federal tax effect |
672 |
|
|
(143 |
) |
|
(1,348 |
) |
Foreign tax |
(18 |
) |
|
117 |
|
|
70 |
|
Basis difference in subsidiary equity |
(820 |
) |
|
— |
|
|
— |
|
Other |
76 |
|
|
127 |
|
|
(42 |
) |
Change in valuation allowance |
329 |
|
|
2,366 |
|
|
6,621 |
|
Effective tax (benefit) provision |
$ |
(811 |
) |
|
$ |
138 |
|
|
$ |
43 |
|
|
| Summary of Deferred Tax Assets and Deferred Tax Liabilities |
Deferred tax assets and deferred tax liabilities consisted of the following:
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|
|
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|
|
|
January 2, 2016 |
|
January 3, 2015 |
Deferred tax assets: |
|
|
|
Inventory and inventory related allowance |
$ |
976 |
|
|
$ |
1,334 |
|
Share-based compensation |
4,924 |
|
|
5,248 |
|
Amortization |
9,244 |
|
|
11,805 |
|
Sales and bad debt allowances |
443 |
|
|
472 |
|
Vacation accrual |
220 |
|
|
264 |
|
Book over tax amortization |
31 |
|
|
10 |
|
Net operating loss and AMT credit carry-forwards |
30,254 |
|
|
26,186 |
|
Other |
843 |
|
|
807 |
|
Total deferred tax assets |
46,935 |
|
|
46,126 |
|
Valuation Allowance |
(46,196 |
) |
|
(45,867 |
) |
Net deferred tax assets |
739 |
|
|
259 |
|
Deferred tax liabilities: |
|
|
|
Investment in subsidiary |
368 |
|
|
1,335 |
|
Tax over book depreciation |
639 |
|
|
79 |
|
Foreign tax withholdings |
470 |
|
|
409 |
|
Prepaid catalog expenses |
100 |
|
|
180 |
|
Total deferred tax liabilities |
1,577 |
|
|
2,003 |
|
Net deferred tax liabilities |
$ |
(838 |
) |
|
$ |
(1,744 |
) |
|
| Summary of State NOL Carryforwards Expiration Year |
The state NOL carryforwards expire in the respective tax years as follows:
|
|
|
|
|
2016-2022 |
$ |
40,569 |
|
2023-2033 |
38,477 |
|
Total |
$ |
79,046 |
|
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