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Income Taxes
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6 Months Ended | ||
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Jul. 31, 2011
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| Income Taxes | |||
| Income Taxes |
For the three and six months ended July 31, 2010 we recorded no income tax expense. For the three and six months ended July 31, 2011 we recorded income tax expense of approximately $21,000 and $43,000, respectively. The effective tax rates for the three and six months ended July 31, 2011 were less than one percent based on our estimated tax loss for the fiscal year. We recorded tax expense for state minimum, capital and gross receipts taxes. There were no material changes to our unrecognized tax benefits in the three and six months ended July 31, 2011 and we do not expect to have any significant changes to unrecognized tax benefits through the end of the fiscal year. Because of our history of tax losses, all years remain open to tax audit. |