XML 52 R9.htm IDEA: XBRL DOCUMENT

(3) Income Taxes	6 Months Ended
Jun. 30, 2013
Notes to Financial Statements
(3) Income Taxes	The Company’s provision for income taxes consists of state and local, and foreign taxes, as applicable, in amounts necessary to align the Company’s year-to-date tax provision with the effective rate that it expects to achieve for the full year. For the six months ended June 30, 2013 and June 30, 2012, the Company recorded an income tax provision of $0.3 million on its pre-tax loss of $9.2 million and $0.4 million on its pre-tax loss of $8.7 million, respectively, consisting primarily of state and local and foreign taxes. The effective tax rate for the six months ended June 30, 2013 was (3.7%). As of June 30, 2013, the Company’s conclusion did not change with respect to the realizability of its domestic deferred tax assets and, therefore, the Company has not recorded any benefit for its expected net domestic deferred tax assets for the full year 2013 estimated annual effective tax rate. As of June 30, 2013, the valuation allowance totaled approximately $40.3 million. The Company’s total unrecognized tax benefits, excluding interest and penalties for June 30, 2013 and December 31, 2012 were approximately $5.1 million. At June 30, 2013, $2.5 million including interest, if recognized, would reduce the Company’s effective tax rate. As of June 30, 2013 and December 31, 2012, the Company recorded an aggregate of approximately $446,000 and $373,000, respectively, of accrued interest and penalties.

(3) Income Taxes

6 Months Ended

Jun. 30, 2013

The Company’s provision for income taxes consists of state and local, and foreign taxes, as applicable, in amounts necessary to align the Company’s year-to-date tax provision with the effective rate that it expects to achieve for the full year.

For the six months ended June 30, 2013 and June 30, 2012, the Company recorded an income tax provision of $0.3 million on its pre-tax loss of $9.2 million and $0.4 million on its pre-tax loss of $8.7 million, respectively, consisting primarily of state and local and foreign taxes. The effective tax rate for the six months ended June 30, 2013 was (3.7%). As of June 30, 2013, the Company’s conclusion did not change with respect to the realizability of its domestic deferred tax assets and, therefore, the Company has not recorded any benefit for its expected net domestic deferred tax assets for the full year 2013 estimated annual effective tax rate. As of June 30, 2013, the valuation allowance totaled approximately $40.3 million.

The Company’s total unrecognized tax benefits, excluding interest and penalties for June 30, 2013 and December 31, 2012 were approximately $5.1 million. At June 30, 2013, $2.5 million including interest, if recognized, would reduce the Company’s effective tax rate. As of June 30, 2013 and December 31, 2012, the Company recorded an aggregate of approximately $446,000 and $373,000, respectively, of accrued interest and penalties.

- 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+ Details