|
Income Taxes (Tables)
|
12 Months Ended |
|
Jan. 03, 2015
|
| 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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|
|
|
Fiscal Year Ended |
|
January 3, 2015 |
|
December 28, 2013 |
|
December 29, 2012 |
Domestic operations |
$ |
(7,424 |
) |
|
$ |
(16,155 |
) |
|
$ |
(37,469 |
) |
Foreign operations |
476 |
|
|
564 |
|
|
554 |
|
Total loss before income taxes |
$ |
(6,948 |
) |
|
$ |
(15,591 |
) |
|
$ |
(36,915 |
) |
|
| Summary of Income Tax (Benefit) Provision |
Income tax (benefit) provision for fiscal year 2014, 2013 and 2012 consists of the following:
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Fiscal Year Ended |
|
January 3, 2015 |
|
December 28, 2013 |
|
December 29, 2012 |
Current: |
|
|
|
|
|
Federal tax |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
State tax |
(15 |
) |
|
20 |
|
|
14 |
|
Foreign tax |
78 |
|
|
(37 |
) |
|
(76 |
) |
Total current taxes |
63 |
|
|
(17 |
) |
|
(62 |
) |
Deferred: |
|
|
|
|
|
Federal tax |
(2,232 |
) |
|
(5,260 |
) |
|
(12,612 |
) |
State tax |
(125 |
) |
|
(1,353 |
) |
|
(2,618 |
) |
Foreign tax |
74 |
|
|
60 |
|
|
275 |
|
Total deferred taxes |
(2,283 |
) |
|
(6,553 |
) |
|
(14,955 |
) |
Valuation allowance |
2,358 |
|
|
6,613 |
|
|
14,080 |
|
Income tax (benefit) provision |
$ |
138 |
|
|
$ |
43 |
|
|
$ |
(937 |
) |
|
| 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 3, 2015 |
|
December 28, 2013 |
|
December 29, 2012 |
Income tax at U.S. federal statutory rate |
$ |
(2,362 |
) |
|
$ |
(5,301 |
) |
|
$ |
(12,551 |
) |
Share-based compensation |
33 |
|
|
43 |
|
|
38 |
|
State income tax, net of federal tax effect |
(143 |
) |
|
(1,348 |
) |
|
(2,528 |
) |
Foreign tax |
117 |
|
|
70 |
|
|
(27 |
) |
Other |
127 |
|
|
(42 |
) |
|
51 |
|
Change in valuation allowance |
2,366 |
|
|
6,621 |
|
|
14,080 |
|
Effective tax (benefit) provision |
$ |
138 |
|
|
$ |
43 |
|
|
$ |
(937 |
) |
|
| Summary of Deferred Tax Assets and Deferred Tax Liabilities |
Deferred tax assets and deferred tax liabilities consisted of the following:
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|
January 3, 2015 |
|
December 28, 2013 |
Deferred tax assets: |
|
|
|
Inventory and inventory related allowance |
$ |
1,334 |
|
|
$ |
1,075 |
|
Share-based compensation |
5,248 |
|
|
4,545 |
|
Amortization |
11,805 |
|
|
13,704 |
|
Sales and bad debt allowances |
472 |
|
|
583 |
|
Vacation accrual |
264 |
|
|
374 |
|
Book over tax amortization |
10 |
|
|
377 |
|
Net operating loss and AMT credit carry-forwards |
26,186 |
|
|
23,114 |
|
Other |
807 |
|
|
388 |
|
Total deferred tax assets |
46,126 |
|
|
44,160 |
|
Valuation Allowance |
(45,867 |
) |
|
(43,509 |
) |
Net deferred tax assets |
259 |
|
|
651 |
|
Deferred tax liabilities: |
|
|
|
Investment in subsidiary |
1,335 |
|
|
— |
|
Tax over book depreciation |
79 |
|
|
784 |
|
Foreign tax withholdings |
409 |
|
|
— |
|
Prepaid catalog expenses |
180 |
|
|
202 |
|
Total deferred tax liabilities |
2,003 |
|
|
986 |
|
Net deferred tax liabilities |
$ |
(1,744 |
) |
|
$ |
(335 |
) |
|
| Summary of State NOL Carryforwards Expiration Year |
The state NOL carryforwards expire in the respective tax years as follows:
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|
|
|
|
2015-2022 |
$ |
40,553 |
|
2023-2032 |
33,057 |
|
Total |
$ |
73,610 |
|
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