Income Taxes

3 Months Ended

Jun. 30, 2012

Income Taxes [Abstract]

Income Taxes

6. Income Taxes

The following table compares our income tax benefit and effective tax rates for the three months ended June 30, 2012 and 2011:

	Three months ended June 30,
(Dollars in thousands)	2012			2011
Income tax benefit	$	(47	)	$	(1,751	)
Effective tax rate		2.8	%		20.3	%

We recorded an effective tax rate benefit from continuing operations of 2.8% in for the three months ended June 30, 2012, compared with an effective tax rate benefit of 20.3% for the three months ended June 30, 2011. For the three months ended June 30, 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 effecting the rate include U.S. permanent book to tax differences. For the three months ended June 30, 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 effecting the rate include a decrease in unrecognized tax benefits attributable to the expiration of statute of limitations and other U.S. permanent book to tax differences.