Audiovox 2008 Annual Report Download - page 90

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Audiovox Corporation and Subsidiaries
Notes to Consolidated Financial Statements, continued
February 29, 2008
(Dollars in thousands, except share and per share data)
8) Income Taxes
The components of income (loss) from continuing operations before the provision for income taxes are as follows:
Three
Year Year Months Year
Ended Ended Ended Ended
February 29, February 28, February 28, November 30,
2008 2007 2006 2005
Domestic Operations $ (1,262) $ (1,140) $ (359) $ (20,448)
Foreign Operations 11,856 3,298 (1,117) 2,352
$ 10,594 $ 2,158 $ (1,476) $ (18,096)
The (benefit) provision for income taxes is comprised of the following:
Three
Year Year Months Year
Ended Ended Ended Ended
February 29, February 28, February 28, November 30,
2008 2007 2006 2005
Current provision (benefit)
Federal $ 314 $ (2,751) $ (4,191) $ (8,599)
State 450 285 77 (542)
Foreign 4,282 326 (688) 836
Total current provision (benefit) $ 5,046 $ (2,140) $ (4,802) $ (8,305)
Deferred (benefit) provision
Federal $ (1,303) $ 122 $ 2,946 $ (3,385)
State 121 (63) 13 306
Foreign (16) 547 - (25)
Total deferred (benefit) provision $ (1,198) $ 606 $ 2,959 $ (3,104)
Total provision (benefit)
Federal $ (989) $ (2,629) $ (1,245) $ (11,984)
State 571 222 90 (236)
Foreign 4,266 873 (688) 811
Total provision (benefit) $ 3,848 $ (1,534) $ (1,843) $ (11,409)
F-33
Source: AUDIOVOX CORP, 10-K, May 14, 2008