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Income Taxes	3 Months Ended
Apr. 30, 2013
INCOME TAXES	NOTE 8 – INCOME TAXES The Company recorded a tax expense of $3.3 million and $1.6 million for the three months ended April 30, 2013 and 2012, respectively. The effective tax rate for the three month period ended April 30, 2013 and 2012 was 28.8% and 19.1%, respectively. The increase in the effective tax rate was due to accounting for valuation allowances in the prior year period. The effective tax rate for the three months ended April 30, 2012 included the application of guidelines related to accounting for income taxes in interim periods, which required the exclusion of certain companies with pretax losses from the estimated annual effective tax rate.

Income Taxes

3 Months Ended

Apr. 30, 2013

NOTE 8 – INCOME TAXES

The Company recorded a tax expense of $3.3 million and $1.6 million for the three months ended April 30, 2013 and 2012, respectively. The effective tax rate for the three month period ended April 30, 2013 and 2012 was 28.8% and 19.1%, respectively.

The increase in the effective tax rate was due to accounting for valuation allowances in the prior year period. The effective tax rate for the three months ended April 30, 2012 included the application of guidelines related to accounting for income taxes in interim periods, which required the exclusion of certain companies with pretax losses from the estimated annual effective tax rate.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details