Quarterly report pursuant to Section 13 or 15(d)

Income Taxes (Tables)

v2.4.0.6
Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2012
Income Taxes [Abstract]  
Net deferred tax assets

Net deferred tax assets consist of the following:

 

                 
    At June 30,  
    2012     2011  
     

Current:

                

Deferred revenue

   $ 291     $ 30  

Prepaid expenses and accruals

     319       162  
   

 

 

    

 

 

  

Net current deferred tax assets

     610       192  
   

 

 

    

 

 

  
     

Non-Current:

                

Deferred rent

   $ 586     $ 535  

Net operating loss and tax credit carry-forwards

     16,315       9,910  

Loss on investments

     2,157       2,157  

Amortization and depreciation

     (12,807 )      (4,516 ) 

Other

     4,251       2,050  
   

 

 

    

 

 

  

Net long-term deferred tax assets

     10,502       10,136  
   

 

 

    

 

 

  
     

Net deferred tax assets

     11,112       10,328  

Less valuation allowance

     (3,444 )      (3,444 ) 
   

 

 

    

 

 

  
    $ 7,668     $ 6,884  
   

 

 

    

 

 

  
Tax expense and effective tax rate

The following table includes tax expense and the effective tax rate for the Company’s income from operations:

 

                                 
    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2012     2011     2012     2011  
         

Income (loss) before income taxes

   $ (1,118 )    $ 4,068     $ 120     $ 6,440  

Income tax provision

     (450 )      1,621       48       2,589  

Effective tax rate

     40.2 %      39.8 %      40.2 %      40.2 %