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Technology Stocks : TAVA Technologies (TAVA-NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Richard S. Schoenstadt who wrote (18710)	6/18/1998 9:43:00 AM
From: JDN	Read Replies (1) \| Respond to of 31646

Dear Richard: In case you didnt know GAAP requires that a company use its ESTIMATED annual income tax rate for calculating taxes EVEN if none are presently due. Since Hannifen used 35% and I have to presume they got that from Management since it is below the actual rate, I also used 35%. When you were figuring out the average revenue per person I would point out that I believe a number of engineers were still not working on billable work during the time periods you selected to estimate. Example working on the Database/C/D etc for Utilities, Medical, and maybe even the original Plant Y2K one. That would skew DOWN the average revenue per billable employee. It is my understanding and only that, that this is all behind us now and everyone works on billable work. JDN