Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v2.4.0.6
Income Taxes
 6 Months Ended
Jun. 30, 2012
Income Tax Disclosure [Abstract]  
Income Taxes [Text Block]
INCOME TAXES
Generally, accounting standards require companies to provide for income taxes each quarter based on their estimate of the effective tax rate for the full year. The authoritative guidance for accounting for income taxes allows use of the discrete method when it provides a better estimate of income tax expense. Due to the Company's valuation allowance position and the existence of a deferred tax liability related to indefinite lived intangibles, it is the Company's position that the discrete method provides a more accurate estimate of income tax expense and therefore income tax expense for the current quarter has been presented using the discrete method.  As the year progresses, the Company refines its estimate based on the facts and circumstances by each tax jurisdiction.  The following table summarizes income tax expense on income from continuing operations and the effective tax rate for the three- and six-month periods ended June 30, 2012 and 2011: 
 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2012

2011
 
2012

2011
Provision (benefit) for income tax
$
63

 
$
185

 
$
145

 
$
(694
)
Effective income tax rate
(19.0
)%
 
(16.9
)%
 
(26.3
)%
 
27.4
%

Income tax expense for the six-month period ended June 30, 2012 was primarily due to state taxes. The income tax benefit for the six-month period ended June 30, 2011 was primarily due to the release of reserves related to uncertain tax positions that were reversed in connection with the closing of the Company's IRS examination for the 2003, 2004 and 2008 tax years, partially offset by state taxes and tax expense associated with the tax amortization of indefinite lived intangibles.