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Technology Stocks : Extreme Networks, Inc. (EXTR) -- Ignore unavailable to you. Want to Upgrade?

To: Dave who wrote (610)7/19/2001 12:34:45 PM
From: A.L. Reagan  Read Replies (1) | Respond to of 770
 
To the contrary, a deferred tax asset normally means that taxable income exceeds GAAP income due to timing differences - the most significant of which for EXTR is probably GAAP goodwill amortization, but another timing difference is inventory write-downs.

If the GAAP books say you have a profit, but the tax return doesn't (due to say, accelerated depreciation for tax, not for book) then you have a deferred tax liability.


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