Leucadia National Corporation Announces 2007 Results
biz.yahoo.com
Friday February 29, 11:05 am ET
NEW YORK--(BUSINESS WIRE)--Leucadia National Corporation (LUK – NYSE) today announced its operating results for the year ended December 31, 2007. During 2007, the Company recorded an adjustment that reduced the deferred tax valuation allowance and credited income tax expense by $542,700,000. The adjustment results from the Company’s conclusion that it is more likely than not that it will have future taxable income sufficient to realize that portion of the net deferred tax asset. Net income was $484,294,000 (including the $542,700,000 adjustment referred to above) or $2.10 per diluted common share for the year ended December 31, 2007 compared to net income of $189,399,000 or $.85 per diluted common share for the year ended December 31, 2006. Net income also included income of $3,486,000 or $.01 per diluted common share for 2007 and $59,630,000 or $.25 per diluted common share for 2006 related to discontinued operations, including gain on disposal. |
