Income Tax

The effective income tax rate for the Current Quarter and the Prior Year Quarter was approximately 72% and 70%, respectively, resulting in an income tax provision (benefit) of $557,000 and $(208,000), respectively.

The effective income tax rate for the Current Six Months and the Prior Year Six Months was approximately 122% and 66%, respectively, resulting in an income tax provision (benefit) of $1,013,000 and $(259,000), respectively.

In the Current Quarter, the effective tax rate was primarily attributable to the tax impact from the vesting of restricted shares of common stock, which was treated as a discrete item for tax purposes. This item increased the effective rate by 7% for the Current Quarter and 57% for the Current Six Months, respectively. The effective tax rate was also attributable to recurring permanent differences. Based on the amount of income before income taxes compared to the recurring permanent differences, the effective rate increased approximately by 31% for both the Current Quarter and Current Six Months.

During the Prior Year Quarter and the Prior Year Six Months, the respective effective tax rates were attributable to recurring permanent differences. Based on the amount of loss from continuing operations before income taxes compared to the permanent differences, the effective rate increased by 29% and 25% for the Prior Year Quarter and the Prior Year Six Months, respectively.