*NEWS*HP:GET’S $443M IN TAXED CREDIT

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*NEWS*HP:GET’S $443M IN TAXED CREDIT

 user 2006-06-07 at 12:04:00 pm Views: 64
  • #15833

    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.