Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

v2.3.0.15
Income Taxes
 9 Months Ended
Sep. 30, 2011
Income Taxes [Abstract]  
INCOME TAXES

(6) INCOME TAXES

The Company’s effective tax rates for the third quarter and first nine months of 2011 were (390.7)% and 73.1%, respectively, compared to the effective tax rates of 30.9% and 32.0% for the third quarter and first nine months of 2010, respectively. Income tax benefit for the three months ended September 30, 2011 was $6.7 million compared to expense of $16.3 million for the same period in 2010. Income tax benefit for the nine months ended September 30, 2011 was $26.0 million compared to expense of $62.5 million for the same period in 2010. The effective tax rates for the third quarter and first nine months of 2011 included a $4.6 million benefit recorded for prior year research and development tax credit claims made in the third quarter.