Agouron Pharmaceuticals (AGPH) Message Board

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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: David Swankie who wrote (5548)	10/20/1998 6:13:00 PM
From: JimieA	Read Replies (2) of 6136

According to Agouron's 6/98 10-k they expected a lower tax rate in FY99. "The Company anticipates that its effective income tax rate for fiscal 1999 will range from 10% to 15%. Such decrease from fiscal 1998 is attributed to greater expected availability of R&D tax credits due to the anticipated increase in R&D spending and the anticipated reduction in R&D contract revenues." Without the lower tax rate Net Income would have been lower then previous quarters. Pre-Tax Income Q2'98 $8,203 Q3'98 22,542 Q4'98 11,129 (exludes $26M in R & D) Q1'99 8,106 I assume this should have been expected, but it probably will surprise some folks.

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