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Technology Stocks : Data Dimensions
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To: yuedong wu who wrote (479)4/3/1997 2:45:00 PM
From: CodeJockey   of 4571
 
Re: Tax benefit in 4th quarter

DDIM reduced their reserve against deferred tax assets. This means that they convinced their auditors that they would be making enough money in the future to actually utilize these tax benefits as an offset against taxable income. They reduced this allowance by $450,000. This was a direct addition to the bottom line of 12.6 cents per share. Result is poor quality of reported earnings. Note as well that DDIM's report says they may have trouble utilizing NOLs.
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