Date: Wednesday June 7, 2006 12:03:00 pm
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HP gets $443M tax settlement
HP reached a settlement with the U.S. Internal Revenue Service (IRS) last week regarding its tax returns from 1996 to 1998, boosting net income for the three months to April 30 by $443 million, or $0.15 per share, HP said. Net income for the quarter was revised to $1.9 billion, or $0.66 per share.As a result of the change, HP, of Palo Alto, California, also revised its forecast for its full-year results. It now expects net earnings per share in the range of $2.02 to $2.06, it said. The settlement was signed by the IRS after HP’s second quarter had ended, the company said.
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