Income Taxes

9 Months Ended

Dec. 31, 2012

Income Tax Expense (Benefit) [Abstract]

Income Taxes

Income Taxes

The following table compares our income tax expense (benefit) and effective tax rates for the three months and nine months endedDecember 31, 2012 and 2011:

	Three months ended						Nine months ended
	December 31,						December 31,
(Dollars in thousands)	2012			2011			2012			2011
Income tax expense (benefit)	$	19		$	(1,353	)	$	(69	)	$	(6,209	)
Effective tax rate	3.7		%	19		%	4.1		%	27.7		%

For the three and nine months endedDecember 31, 2012, the effective tax rate was different than the statutory rate due primarily to recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance. Other items affecting the rate include a decrease in unrecognized tax benefits attributable to the expiration of statute of limitations, foreign and state taxes and other U.S. permanent book to tax differences.

For the three and nine months endedDecember 31, 2011, the effective tax rate was different than the statutory rate due primarily to the intra-period tax allocation rules associated with the discontinued operations. Other items affecting the rate include a decrease in unrecognized tax benefits attributable to the expiration of statute of limitations, foreign and state taxes and other U.S. permanent book to tax differences.