Tonernews.com, June 7, 2006. USA
HP gets $443M tax settlement
HP
reached a settlement with the U.S. Internal Revenue Service (IRS) last
week regarding its tax returns from 1996 to 1998, boosting net income
for the three months to April 30 by $443 million, or $0.15 per share,
HP said. Net income for the quarter was revised to $1.9 billion, or
$0.66 per share.As a result of the change, HP, of Palo Alto,
California, also revised its forecast for its full-year results. It now
expects net earnings per share in the range of $2.02 to $2.06, it said.
The settlement was signed by the IRS after HP’s second quarter had
ended, the company said.