Income Taxes

6 Months Ended

Jun. 30, 2011

Income Taxes [Abstract]

Income Tax Disclosure

Income Taxes

The Company’s effective tax rate is based on expected income, statutory tax rates and tax planning opportunities available to it.  For interim financial reporting, the Company estimates its annual tax rate based on projected taxable income for the full year and records a quarterly tax provision in accordance with the anticipated annual rate.  The effective rate for the three months ended June 30, 2011 and 2010 was 39.8% and 36.3%,in each period, respectively, and differed from the Company’s statutory rate primarily due to state income taxes, the non-deductibility of certain permanent tax items, such as incentive stock compensation expense, offset in part by the benefit of the domestic production activities deduction on its federal tax return, which net effect increased the overall effective tax rate. For the six month period ended June 30, 2011 and 2010, the effective tax rate was 42% and 36.6%, respectively.

	Current			Deferred		Total
Three months ended June 30, 2011:
U.S. Federal	$	(3,997	)	$	1,924	$	(2,073	)
State and local	(115		)	64		(51		)
	$	(4,112	)	$	1,988	$	(2,124	)
Three months ended June 30, 2010
U.S. Federal	$	3,895		$	36	$	3,931
State and local	58			10		68
	$	3,953		$	46	$	3,999

	Current			Deferred			Total
Six months ended June 30, 2011
U.S. Federal	$	(3,714	)	$	2,538		$	(1,176	)
State and local	(94		)	55			(39		)
	$	(3,808	)	$	2,593		$	(1,215	)
Six months ended June 30, 2010
U.S. Federal	$	6,819		$	(76	)	$	6,743
State and local	65			12			77
	$	6,884		$	(64	)	$	6,820

The Company does not believe that its tax positions will significantly change due to any settlement and/or expiration of statutes of limitations prior to June 30, 2012.