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Income Tax
6 Months Ended
Sep. 30, 2013
Income Tax Disclosure [Abstract]  
Income Tax
Income Tax

The provision for income taxes for the three months ended September 30, 2013 and 2012 was approximately $5.5 million and $8.8 million, respectively. The effective tax rates were 35.1% and 36.0% for the three months ended September 30, 2013 and 2012, respectively. The effective rate for the three months ended September 30, 2013 decreased as compared to the same prior year period due to a net benefit from the federal research and development tax credit and an increase benefit in qualified production activities deduction. The federal research and development tax credit statute expired on December 31, 2011, and in January 2013, was retroactively enacted through December 31, 2013.

The provision for income taxes for the six months ended September 30, 2013 and 2012 was approximately $11.9 million and $16.6 million, respectively. The effective tax rates were 33.9% and 34.8% for the six months ended September 30, 2013 and 2012, respectively. The effective rate for the six months ended September 30, 2013 decreased as compared to the same prior year period due to a net benefit from the federal research and development tax credit and an increase benefit in qualified production activities deduction. The federal research and development tax credit statute expired on December 31, 2011, and in January 2013, was retroactively enacted through December 31, 2013.

Uncertain tax positions
As of September 30, 2013, the Company had recorded a liability of $1.2 million for unrecognized tax benefits related to various federal, state and local income tax matters. If recognized, this amount would reduce the Company’s effective tax rate. The tax liability for the six months ended September 30, 2013 increased from the same prior year period by $0.6 million due to additional local income tax contingent liability and certain tax positions related to acquired companies.

The Company is no longer subject to U.S. federal income tax examinations for tax years before 2012. With few exceptions, the Company is no longer subject to state income tax examinations for tax years before 2008. The Company does not anticipate that total unrecognized tax benefits will significantly change due to the settlement of audits or the expiration of statute of limitations within the next twelve months.