Income Taxes

3 Months Ended

Mar. 31, 2013

Income Taxes [Abstract]

Income Taxes

9. Income Taxes

A reconciliation of income taxes computed at federal statutory rates to income tax expense is as follows (dollar amounts in thousands):

	Three Months Ended March 31,
	2013					2012
Provision for income taxes at statutory rate	$	4,497		35.0	%	$	3,257		35.0	%
State and local income taxes, net of federal tax benefit		191		1.5	%		128		1.4	%
Stock compensation		70		0.5	%		62		0.6	%
Research credits		(325	)	(2.5	)%		—		—
Disqualifying dispositions on incentive stock options		(148	)	(1.2	)%		(33	)	(0.3	)%
Effect of rate changes on deferred taxes		—		—			128		1.4	%
Other, net		(54	)	(0.4	)%		45		0.4	%
Reported income tax provision	$	4,231		32.9	%	$	3,587		38.5	%

As of March 31, 2013, the reserve for uncertain tax positions was approximately $4.7 million. Of this amount, $3.7 million is recorded as a reduction of deferred tax assets and $1.0 million is classified as long term liabilities.