Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 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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|
Fiscal Year Ended |
|
December 31, 2016 |
|
January 2, 2016 |
|
January 3, 2015 |
Domestic operations |
$ |
(1,305 |
) |
|
$ |
(3,718 |
) |
|
$ |
(7,424 |
) |
Foreign operations |
503 |
|
|
483 |
|
|
476 |
|
Total loss before income taxes |
$ |
(802 |
) |
|
$ |
(3,235 |
) |
|
$ |
(6,948 |
) |
|
| Summary of Income Tax (Benefit) Provision |
Income tax (benefit) provision for fiscal year 2016, 2015 and 2014 consists of the following:
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Fiscal Year Ended |
|
December 31, 2016 |
|
January 2, 2016 |
|
January 3, 2015 |
Current: |
|
|
|
|
|
Federal tax |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
State tax |
7 |
|
|
7 |
|
|
(15 |
) |
Foreign tax |
162 |
|
|
88 |
|
|
78 |
|
Total current taxes |
169 |
|
|
95 |
|
|
63 |
|
Deferred: |
|
|
|
|
|
Federal tax |
(331 |
) |
|
(1,887 |
) |
|
(2,232 |
) |
State tax |
(616 |
) |
|
591 |
|
|
(125 |
) |
Foreign tax |
— |
|
|
61 |
|
|
74 |
|
Total deferred taxes |
(947 |
) |
|
(1,235 |
) |
|
(2,283 |
) |
Valuation allowance |
579 |
|
|
329 |
|
|
2,358 |
|
Income tax (benefit) provision |
$ |
(199 |
) |
|
$ |
(811 |
) |
|
$ |
138 |
|
|
| 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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|
|
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|
|
|
|
|
|
December 31, 2016 |
|
January 2, 2016 |
|
January 3, 2015 |
Income tax at U.S. federal statutory rate |
$ |
(273 |
) |
|
$ |
(1,100 |
) |
|
$ |
(2,362 |
) |
Share-based compensation |
316 |
|
|
50 |
|
|
33 |
|
State income tax, net of federal tax effect |
(559 |
) |
|
672 |
|
|
(143 |
) |
Foreign tax |
20 |
|
|
(18 |
) |
|
117 |
|
Basis difference in subsidiary equity |
(267 |
) |
|
(820 |
) |
|
— |
|
Other |
(15 |
) |
|
76 |
|
|
127 |
|
Change in valuation allowance |
579 |
|
|
329 |
|
|
2,366 |
|
Effective tax (benefit) provision |
$ |
(199 |
) |
|
$ |
(811 |
) |
|
$ |
138 |
|
|
| 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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|
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|
December 31, 2016 |
|
January 2, 2016 |
Deferred tax assets: |
|
|
|
Inventory and inventory related allowance |
$ |
839 |
|
|
$ |
976 |
|
Share-based compensation |
5,083 |
|
|
4,924 |
|
Amortization |
7,636 |
|
|
9,244 |
|
Sales and bad debt allowances |
749 |
|
|
443 |
|
Vacation accrual |
224 |
|
|
220 |
|
Book over tax amortization |
— |
|
|
31 |
|
Net operating loss and AMT credit carry-forwards |
33,026 |
|
|
30,254 |
|
Other |
800 |
|
|
843 |
|
Total deferred tax assets |
48,357 |
|
|
46,935 |
|
Valuation Allowance |
(46,775 |
) |
|
(46,196 |
) |
Net deferred tax assets |
1,582 |
|
|
739 |
|
Deferred tax liabilities: |
|
|
|
Investment in subsidiary |
— |
|
|
368 |
|
Tax over book depreciation |
1,518 |
|
|
639 |
|
Foreign tax withholdings |
— |
|
|
470 |
|
Prepaid catalog expenses |
64 |
|
|
100 |
|
Total deferred tax liabilities |
1,582 |
|
|
1,577 |
|
Net deferred tax liabilities |
$ |
— |
|
|
$ |
(838 |
) |
|
| Summary of State NOL Carryforwards Expiration Year |
The state NOL carryforwards expire in the respective tax years as follows:
|
|
|
|
|
2017 |
$ |
6,930 |
|
2018 |
1,132 |
|
2019 |
7,646 |
|
2020 |
2,121 |
|
2021 |
4,050 |
|
Thereafter |
61,148 |
|
|
$ |
83,027 |
|
|