Income Taxes

6 Months Ended

Jun. 30, 2011

Income Taxes [Abstract]

Income Taxes

10. Income Taxes

     For the three-month and six-month periods ended June 30, 2011 and 2010, our income tax expense (benefit) and effective tax rates were as follows (dollars in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Income tax expense (benefit)	$	1,129		$	190		$	(282	)	$	(3,048	)
Effective income tax rate		30.6	%		26.2	%		35.0	%		42.0	%

     We estimate our differences between taxable income or loss and recorded income or loss on an annual basis. Our tax provision for each quarter is based upon these full year projections which are revised each reporting period. These projections incorporate estimates of permanent differences between U.S. GAAP income or loss and taxable income or loss, state income taxes and adjustments to our liability for unrecognized tax benefits to adjust our statutory Federal income tax rate of 35% to our effective income tax rate.

     For the six-month period ended June 30, 2011, these estimates increased or decreased our statutory Federal income tax rate of 35.0% to our effective income tax rate of 35.0% as follows: permanent differences between our U.S. GAAP loss and taxable loss added 4.6% and state income taxes added 7.5%, while adjustments to our reserve for uncertain tax positions resulted in a reduction of 12.1%.

     For the six-month period ended June 30, 2010, these estimates increased or decreased our statutory Federal income tax rate of 35.0% to our effective income tax rate of 42.0% as follows: permanent differences between our U.S. GAAP loss and taxable loss added 2.3% and state income taxes added 10.6%, while adjustments to our reserve for uncertain tax positions resulted in a reduction of 5.5% and other adjustments resulted in a reduction of 0.4%.