Income Taxes

6 Months Ended

Sep. 30, 2012

Income Tax Expense (Benefit) [Abstract]

Income Taxes

Income Taxes

The following table compares our income tax benefit and effective tax rates for the three months and six months endedSeptember 30, 2012 and 2011:

	Three months ended						Six months ended
	September 30,						September 30,
(Dollars in thousands)	2012			2011			2012			2011
Income tax benefit	$	(41	)	$	(3,106	)	$	(88	)	$	(4,857	)
Effective tax rate	10.45		%	46.7		%	3.9		%	31.8		%

For the three and six months endedSeptember 30, 2012, the effective tax rate was different than the statutory rate due primarily to recognition of net operating losses as deferred tax assets, which were offset by increases in the valuation allowance. Other items effecting the rate include a decrease in unrecognized tax benefits attributable to the expiration of statute of limitations and other U.S. permanent book to tax differences.

For the three and six months endedSeptember 30, 2011, the effective tax rate was different than the statutory rate due primarily to the intra-period tax allocation rules associated with the discontinued operations. Other items effecting the rate include a decrease in unrecognized tax benefits attributable to the expiration of statute of limitations and other U.S. permanent book to tax differences.