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

15. Income Taxes

In the third quarter of 2013, the Company reported income before taxes of $7.6 million and recorded an income tax provision of $3.4 million. The Company’s effective income tax rate for the third quarter of 2013 was 45.4%, which reflects an adjusted full-year expected annualized tax rate of approximately 68 percent, up from the second quarter 2013 adjusted full-year expected annualized tax rate of approximately 64 percent. The increase in the anticipated full-year annualized tax rate from the second quarter is primarily due to a change in the projection and mix of income earned worldwide.

For the first nine months of 2013, the Company reported income before taxes of $12.7 million and recorded an income tax provision of $7.8 million. The Company’s effective income tax rate for the nine months ended September 30, 2013 was 61.8%. The decrease in the tax rate from the second quarter is due to certain discrete items recorded as a tax benefit in the third quarter.

In the third quarter of 2012, the Company reported income before taxes of $10.0 million and recorded an income tax provision of $5.9 million. The Company’s effective income tax rate for the third quarter of 2012 was 59.0%.

For the first nine months of 2012, the Company reported income before taxes of $20.0 million and recorded an income tax provision of $13.4 million. The Company’s effective income tax rate for the nine months ended September 30, 2012 was 66.8%.