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Income Taxes

9 Months Ended

Dec. 31, 2014

7.	Income Taxes

The provision for income taxes decreased to approximately $2.4 million for the three months ended December 31, 2014 from approximately $2.8 million for the three months ended December 31, 2013. The Company’s effective tax rate decreased to 38.59% for the three months ended December 31, 2014 from 42.54% for the three months ended December 31, 2013. The provision for income taxes decreased to approximately $6.9 million for the nine months ended December 31, 2014 from approximately $9.3 million for the nine months ended December 31, 2013. The Company’s effective tax rate decreased to 34.51% for the nine months ended December 31, 2014 from 40.14% for the nine months ended December 31, 2013. The significant decrease in the effective tax rate for the nine months ended December 31, 2014 is related to certain professional fees totaling approximately $1.2 million associated with the potential sale of the Company becoming deductible during the three months ended June 30, 2014 when the Arrangement Agreement was terminated.

- 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.

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