|
A reconciliation of income taxes computed at federal
statutory rates to income tax expense is as follows (dollar amounts in thousands):
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Three Months Ended September 30, |
|
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|
2012 |
|
|
2011 |
|
|
Provision for income taxes at statutory rate
|
|
$ |
4,157 |
|
|
|
35.0 |
% |
|
$ |
3,119 |
|
|
|
35.0 |
% |
|
State and local income taxes, net of federal tax benefit
|
|
|
181 |
|
|
|
1.5 |
% |
|
|
110 |
|
|
|
1.2 |
% |
|
Stock compensation
|
|
|
79 |
|
|
|
0.7 |
% |
|
|
51 |
|
|
|
0.6 |
% |
|
Research credits
|
|
|
— |
|
|
|
— |
|
|
|
(88 |
) |
|
|
(1.0 |
)% |
|
Effect of rate changes on deferred taxes
|
|
|
33 |
|
|
|
0.3 |
% |
|
|
— |
|
|
|
— |
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|
Reversal of reserve for income taxes
|
|
|
(383 |
) |
|
|
(3.2 |
)% |
|
|
(35 |
) |
|
|
(0.4 |
)% |
|
Disqualifying dispositions on incentive stock options
|
|
|
(42 |
) |
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|
(0.4 |
)% |
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|
(40 |
) |
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|
(0.5 |
)% |
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Other, net
|
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|
(139 |
) |
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|
(1.2 |
)% |
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|
(197 |
) |
|
|
(2.1 |
)% |
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Reported income tax provision
|
|
$ |
3,886 |
|
|
|
32.7 |
% |
|
$ |
2,920 |
|
|
|
32.8 |
% |
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Nine Months Ended September 30, |
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|
2012 |
|
|
2011 |
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Provision for income taxes at statutory rate
|
|
$ |
11,456 |
|
|
|
35.0 |
% |
|
$ |
9,045 |
|
|
|
35.0 |
% |
|
State and local income taxes, net of federal tax benefit
|
|
|
468 |
|
|
|
1.4 |
% |
|
|
318 |
|
|
|
1.2 |
% |
|
Stock compensation
|
|
|
213 |
|
|
|
0.7 |
% |
|
|
179 |
|
|
|
0.7 |
% |
|
Research credits
|
|
|
— |
|
|
|
— |
|
|
|
(231 |
) |
|
|
(0.9 |
)% |
|
Effect of rate changes on deferred taxes
|
|
|
161 |
|
|
|
0.5 |
% |
|
|
9 |
|
|
|
— |
|
|
Reversal of reserve for income taxes
|
|
|
(383 |
) |
|
|
(1.2 |
)% |
|
|
(35 |
) |
|
|
(0.1 |
)% |
|
Disqualifying dispositions on incentive stock options
|
|
|
(121 |
) |
|
|
(0.4 |
)% |
|
|
(135 |
) |
|
|
(0.5 |
)% |
|
Other, net
|
|
|
(188 |
) |
|
|
(0.5 |
)% |
|
|
(337 |
) |
|
|
(1.3 |
)% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Reported income tax provision
|
|
$ |
11,606 |
|
|
|
35.5 |
% |
|
$ |
8,813 |
|
|
|
34.1 |
% |
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