Income Taxes

6 Months Ended

Jun. 30, 2012

Income Taxes

Income Taxes

Note G — Income Taxes

Primarily as a result of decreases in the Company’s estimated pre-tax income, the Company’s estimated annual effective tax rate for the three and six-month periods ended June 30, 2011 varied from the federal statutory rate of 35%.  The variance also reflected proportionate increase in expenses with limited tax deductibility relative to the Company’s pre-tax income for the year ended December 31, 2011.