Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

Income Taxes
3 Months Ended
Apr. 30, 2012
Income Taxes

12. Income Taxes


For the three months ended April 30, 2012, we recorded income tax expense of $1,000 on a loss before tax of $312,000 for continuing operations.


The difference between the forecasted effective tax rate and the federal statutory rate of 35% is primarily due to the differential in foreign tax rates and losses not benefitted.


The Company regularly reviews its tax positions in each significant taxing jurisdiction in the process of evaluating its unrecognized tax benefits. The Company make adjustments to its unrecognized tax benefits when: i) facts and circumstances regarding a tax position change, causing a change in management’s judgment regarding that tax position; ii) a tax position is effectively settled with a tax authority; and/or iii) the statute of limitations expires regarding a tax position.