Income Taxes (Tables)

3 Months Ended

Sep. 30, 2012

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

A summary of the income tax expense recorded for the three months ended September 30, 2012 and 2011 is as follows:

(In thousands)	Three Months Ended
	September 30, 2012			September 30, 2011
	(Unaudited)
Income (loss) before taxes	$	3,296		$	(7,238	)
Income tax expense (benefit) at statutory rate	$	1,121		$	(2,461	)
State income tax (net of federal tax benefit)	429			(280		)
Dividend income exclusion	—			(50		)
Valuation allowance	(1,235		)	3,082
Other permanent items	107			55
Income tax expense	$	422		$	346

Summary of Income Tax Contingencies

As of September 30, 2012 and June 30, 2012 the Company had not recognized the following tax benefits in its consolidated financial statements:

	As of
(In thousands)	September 30, 2012		June 30, 2012
	(Unaudited)
Total unrecognized tax benefits*	$	3,211	$	3,211
Unrecognized benefits that, if recognized, would affect the Company's effective tax rate, subject to the valuation allowance*	$	3,064	$	3,064

____________

* Excluding interest and penalties