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Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: g_m10 who wrote (6396)	6/16/1999 8:41:00 AM
From: Charlie Smith	Read Replies (2) \| Respond to of 20297

gm10: EBITDA= Earnings Before Interest, Taxes, Depreciation and Amortization The D&A line is the only add back of any significance for CKFR in calculating cash flow. Interest is actually a subtraction, and taxes (on operating income) are too small either way to be meaningful. My estimated D&A of about $25mm for FY00 would cover a book loss of as much as $.45 per share, BTW. IF they don't report earnings, do they still have to pay Income Tax? No tax paid if P&L shows losses. Actually, a company can even report profits for an extended period and still pay little cash tax if it is investing heavily (deferred tax asset). Charlie