SHOR » Topics » Provision for income taxes.

This excerpt taken from the SHOR 10-Q filed Feb 9, 2009.

Provision for income taxes.

 

     Six months ended    Change  
     December 31,
2008
   December 31,
2007
   $    %  
     (in thousands, except percentages)  

Tax provision

   $ 902    $ 284    $ 618    218 %

Income tax provision. The income tax provision of $0.9 million for the six months ended December 31, 2008 on a net loss of $3.2 million resulted in an effective tax rate of (28%). The negative effective tax rate is primarily a result of nondeductible stock compensation expenses, limitations on the utilization of credit carryforwards and the impact of the valuation allowance. The tax expense of $0.3 million for the six months ended December 31, 2007 was primarily due to the decrease in the estimated annual effective tax for fiscal 2008 and reflects the effect of the expected use in fiscal 2008 of net operating loss and tax credit carryforwards based on the Company’s reduction in its annual income projection and the impact of the valuation allowance.

This excerpt taken from the SHOR 10-Q filed Nov 6, 2008.

Provision for income taxes.

 

     Three months ended    Change  
     September 30,
2008
   September 30,
2007
  
         $     %  
     (in thousands, except percentages)  

Tax provision

   $ 608    $ 806    $ (198 )   (25 )%

Income tax provision. The income tax provision was $0.6 million in the three months ended September 30, 2008 which is a decrease of $0.2 million from $0.8 million in the same period of 2007, primarily due to lower taxable income in the three months ended September 30, 2008 compared to same of 2007.

EXCERPTS ON THIS PAGE:

10-Q
Feb 9, 2009
10-Q
Nov 6, 2008
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