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Income Taxes
3 Months Ended
Jun. 30, 2015
Income Taxes  
Income Taxes

 

6.Income Taxes

 

The following table sets forth our provision for income taxes, along with the corresponding effective tax rates:

 

 

 

Three Months Ended

 

 

 

June 30,

 

 

 

2015

 

2014

 

 

 

(In thousands, except percentages)

 

 

 

 

 

 

 

Benefit (provision) for income taxes

 

$

198 

 

$

29 

 

 

 

 

 

 

 

 

 

Effective tax rate

 

44.8 

%

29.9 

%

 

 

 

 

 

 

 

On an interim basis, we estimate what our anticipated annual effective tax rate will be, while also separately considering applicable discrete and other non-recurring items, and record a quarterly income tax provision in accordance with the anticipated annual rate. As the fiscal year progresses, we refine our estimates based on actual events and financial results during the year. This process can result in significant changes to our expected effective tax rate. When this occurs, we adjust our income tax provision during the quarter in which our estimates are refined so that the year-to-date provision reflects the expected annual effective tax rate. These changes, along with adjustments to our deferred taxes, among others, may create fluctuations in our overall effective tax rate from quarter to quarter.