INCOME TAX

9 Months Ended

Dec. 31, 2012

INCOME TAX

INCOME TAX

12.           INCOME TAX

In determining the quarterly provision for income taxes, the Company makes its best estimate of the effective tax rate expected to be applicable for the full fiscal year. The anticipated effective tax rate for fiscal 2013 is approximately 39.5%, excluding any impact of the American Taxpayer Relief Act of 2012.

In accordance with accounting standards, the Company has not recorded any effects of the American Taxpayer Relief Act of 2012, which was signed into law on January 2, 2013, since the law was not enacted before the end of the fiscal period.  The impact of this law will be recorded by the Company in the fourth quarter.  The Company anticipates the impact of this law will lower tax expense for the full year by approximately $1.0 million, principally due to retroactive reinstatement of the research and experimentation tax credit.