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Strategies & Market Trends : Turnarund Investing -- Ignore unavailable to you. Want to Upgrade?

To: bankbuyer who wrote (1491)	5/25/2012 3:40:20 PM
From: KirbyJF1	Read Replies (1) \| Respond to of 1876

bankbuyer/loser your reading a different 10q than I am. you are such a mendacious basher. try this shortcut novationcompanies.com Also remember their Auditors signed off for Novation to book part of the deffered tax asset. This is HUGE The Company had a deferred tax asset of $286.4 million as of December 31, 2011 which had been reduced by a full valuation allowance. After evaluating positive and negative evidence available as of March 31, 2012, the Company has determined that it is more likely than not that it will realize a portion of its deferred tax assets. The Company's analysis was significantly influenced by the fact that it reached three years of cumulative income in the first quarter of 2012. The Company has therefore released a portion of its valuation allowance and has recognized a net deferred tax asset of approximately $63.1 million on its balance sheet as of March 31, 2012. The Company recorded an income tax benefit of $63.1 million during the three months ended March 31, 2012 for the portion of the change in valuation allowance arising from expected realization of deferred tax assets in future years. The Company will continue to assess the need for a valuation allowance. The Company has considered all available evidence, both positive and negative. Kirby