Navigation Links
Measurement Specialties, Inc. Announces Impact of 'German Business Tax Reform 2008' Resulting in Lower Combined German Tax Rate - Impacts 2Q08 Reported Financial Results
Date:10/30/2007

HAMPTON, Va., Oct 30 /PRNewswire-FirstCall/ -- Measurement Specialties, Inc. (Nasdaq: MEAS), a designer and manufacturer of sensors and sensor-based systems, announces the impact of the recently adopted German Business Tax Reform 2008 on current year financial statements.

The German Business Tax Reform 2008, which became effective on August 17, 2007, reduces the corporate income tax rate in Germany, resulting in a reduction in the combined German tax rate from approximately 39% to 31%. Although this tax rate change will have a favorable impact on tax expense associated with profits earned in Germany in FY08 and beyond, the Company is required by financial accounting standards to revalue its net deferred tax asset due to this change.

The Company's net deferred tax asset in Germany is primarily due to the tax benefit resulting from the Net Operating Loss carry-forward acquired through the purchase of HL Planartechnik in November 2005. As a result of the new tax reform and associated decrease in effective tax rate in Germany, the value of the deferred tax asset has been reduced by approximately $1 million, from $4.3 million to $3.3 million. This charge will be reflected in the Company's second quarter results.

Mark Thomson, Company CFO commented, "While this tax rate change is expected to result in an additional income tax expense of approximately 7 cents per diluted share in the second quarter of FY08, this is a discrete, non-cash income tax expense driven by the revaluation of the net deferred tax asset, and will help to lower our overall effective tax rate in future years as our profits in Germany increase as a percent of total global earnings. Other than the impact of the discrete non-cash adjustmen
'/>"/>

SOURCE Measurement Specialties, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology news :

1. Measurement Challenges In Detecting Cancer Biomarkers
2. Errors in the measurement of global warming corrected
3. Wiley announces publication of Databasing the Brain
4. Nonlinear Dynamics announces more details of its global partnership with PerkinElmer
5. FDA Announces Series of Changes to the Class of Marketed Non-Steroidal Anti-Inflammatory Drugs (NSAIDs)
6. Ariadne Genomics Announces the Release of PathwayStudio?Central, Client-Server Software for Biological Pathway Analysis
7. Neurologix announces positive results of gene therapy clinical trial in Parkinsons disease
8. Eisai announces Phase II data on E7389, a potential new therapy for the treatment of breast cancer
9. GlycoFi announces the first production of antibodies with human glycosylation in yeast
10. NHGRI announces new sequencing targets
11. CHAVI announces international search for genes affecting HIV response
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/22/2014)... computer science and engineering professor with an expertise in ... Science Foundation grant worth more than $600,000 to develop ... fly., Heng Huang, an associate professor, will lead the ... Arlington Computer Science and Engineering department. Scientists are compiling ... large number of genes involved in fruit fly development ...
(Date:7/22/2014)... 2014) New research from the Monell Center reveals ... can increase airway inflammation in asthmatics for at least ... that expectations can play in health-related outcomes. , "Asthmatics ... expect that an odor is harmful, our bodies react ... lead author Cristina Jan, PhD, a Monell physiologist. "Both ...
(Date:7/22/2014)... not be good for the average steak, but it ... prepare to survive Alaska,s winter cold. , "Alaska wood ... a steak does in your freezer and the frog ... shape than the steak," said Don Larson, University of ... recent paper demonstrating that freeze tolerance in Alaska wood ...
Breaking Biology News(10 mins):UT Arlington big data team wins $600,000 NSF grant to build gene expression database 2In asthma, it's not just what you smell, but what you think you smell 2In asthma, it's not just what you smell, but what you think you smell 3Alaska frogs reach record lows in extreme temperature survival 2Alaska frogs reach record lows in extreme temperature survival 3
... Laval’s Faculty of Medicine have discovered that a ... a pathological reaction in skin cells. Guillaume Morissette, ... about the mode of action of this substance—called ... of Dermatology. , DMAE (2-dimethylaminoethanol) is used in ...
... 15 percent of couples of childbearing age struggle with the ... hope with Cornell researchers' identification of a mutation in a ... the first time that a dominant mutation that leads specifically ... say they can now look for similar mutations in the ...
... made a breakthrough by detecting the electrical equivalent of ... a step closer to both seeing the ‘heartbeat?of a ... , To stay alive, individual biological cells must ... membranes. This flow produces an electrical current that could, ...
Cached Biology News:Anti-wrinkle compound causes pathological reaction in skin cells 2Researchers find gene mutation that causes infertility in male mice 2A new study of living cells could revolutionize the way we test drugs 2
(Date:7/22/2014)... og SHENZHEN , Kina, ... Co., LTD, (BGI Tech), et datterselskab af BGI, ... en ny human whole exome-sekvenseringstjeneste baseret på Complete ... højt anset i branchen for at levere patenterede ... af alle typer varianter, blev købt af BGI ...
(Date:7/22/2014)... , July 22, 2014 Hussey Copper ... MD-Cu 29 antimicrobial copper announces Pullman Regional Hospital,s ... first EPA-registered antimicrobial solid touch surface, at a nominal ... of MRSA, E-coli and other bacteria within 2 hours of ... protecting against bacteria and infectious diseases in its facilities. ...
(Date:7/22/2014)... Quorum Review IRB, the industry leader in central ... called Quick Step™ . The offering went live on ... industry’s need for seamless study start-up with a large volume ... planning 50 or more North American investigator sites, as well ... count of 80 or more. Qualifying studies may also enroll ...
(Date:7/22/2014)... Biofeedback – When a behavioral problem ... medication to best treat it can become a matter ... electroencephalography (EEG) can help predict which medicine will offer ... adverse drug events. , The article “Medication Prediction ... issue of the journal Biofeedback offers evidence that quantitative ...
Breaking Biology Technology:BGI Tech lancerer Human Whole Exome-sekvenseringstjeneste på Complete Genomics avancerede platform 2Pullman Regional Hospital changes more than 1,100 touch points to Hussey Copper's MD-Cu29 antimicrobial copper to help protect against bacteria 2Pullman Regional Hospital changes more than 1,100 touch points to Hussey Copper's MD-Cu29 antimicrobial copper to help protect against bacteria 3Quorum Review IRB Launches New Quick Step™ Service for Large Clinical Trials 2Quorum Review IRB Launches New Quick Step™ Service for Large Clinical Trials 3Analyzing Brain Patterns with EEG Can Help Predict Effective Use of Medication 2Analyzing Brain Patterns with EEG Can Help Predict Effective Use of Medication 3
... , , LAKE MARY, Fla., ... Inc. (NasdaqCM: NGBF) today announced that on August 26, 2009, ... staff indicating that, based on the Company,s stockholders equity as ... the quarter ended June 30, 2009, the Company is no ...
... , BALTIMORE, Md., Aug. 27 Champions Biotechnology, ... development of advanced preclinical platforms and tumor specific data to ... results for the fiscal year ended April 30, 2009. Full ... Company,s Form 10-K available at www.championsbiotechnology.com. , , ...
... , , MURRIETA, Calif., Aug. ... announce the expansion of its US operations. Copan Diagnostics, Inc. ... plastic transfer pipet and additional medical device manufacturing operations to ... addition of blow molding machinery and filling and packing equipment ...
Cached Biology Technology:New Generation Biofuels Receives NASDAQ Notice of Noncompliance with Continued Listing Requirements 2Champions Biotechnology Reports Fiscal 2009 Full-Year Financial Results 2Champions Biotechnology Reports Fiscal 2009 Full-Year Financial Results 3Champions Biotechnology Reports Fiscal 2009 Full-Year Financial Results 4Champions Biotechnology Reports Fiscal 2009 Full-Year Financial Results 5Copan Announces Multimillion Expansion for US Pipet Manufacturing Operations 2
... stain has bright fluorescence when bound to dsDNA ... for detecting dsDNA in gels using laser scanners ... nucleic acid stain has also found uses ... bandshift assays. A 500 µL unit size (S-7563) ...
... cross-linking techniques are defined by the author ... Wong. This valuable hardcover guide includes hundreds ... application references. More than 300 pages detail ... conjugate preparation from selection and design ...
... protein separation by two-dimensional electrophoresis (2D-PAGE), ... package from Bio-Rad and protein identification ... to meet customers requirements regarding experimental ... format of the results permanent contact ...
... reagents for immune complex disruption (ICD) of ... using a combination of low pH and ... transferred to microplate wells which are coated ... to HIV-1 p24. The immobilized monoclonal antibody ...
Biology Products: