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Furniture Brands International Inc. Message Board

  • longtimefollower longtimefollower Nov 11, 2009 7:12 PM Flag

    Subsequent event in 10-Q.

    The tax loss carryback provision Congress just passed should bring in a decent amount of money to the balance sheet next year. If they lose in the ballpark of $50 million (taxable) this year, times a 40% tax rate, could bring in somewhere around $20 million in a tax refund next year.

    Good news. I can see net debt at ZERO, perhaps, by the time that tax refund comes in in the spring of 2010.

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    • They have already lost 44MM this year and will have a big settle up loss for the year as they always do. They only lost $340,000,000 last year with the majority reported in the fourth qtr. They have a lot of dead leases they have to write off at the end of the year plus more of the infamous "One time charges".
      Good Luck!