XML 48 R16.htm IDEA: XBRL DOCUMENT

Note 8 - Income Taxes	3 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	8. INCOME TAXES The Company currently has net operating loss carryforwards available to offset future tax liabilities. The Company has recorded a full valuation allowance against its deferred tax assets in Hungary, the United States and Mexico. The valuation allowance will be retained until there is sufficient positive evidence to conclude that it is more likely than not that the tax benefits associated with the deferred tax asset, or some portion of them, will be realized. In the consolidated balance sheet, the Company classifies its deferred tax assets and liabilities as either current or non-current, according to the expected reversal date of the temporary differences as of the reporting date. As of December 31, 2013, we have released uncertain tax positions due to the expiration of the statute of limitations, which recorded a tax benefit of $0.5 million. The Company tracks uncertain tax positions under the guidance of ASC 740-10. Income tax benefit was $0.1 million for the three months ended December 31, 2013, compared to an expense of $0.6 million for the three months ended December 31, 2012. During the first three months of fiscal 2014, the Company recognized expense of $0.3 million related to the local Hungarian municipality tax, and $0.1 million was recorded related to U.S. and Mexico minimum tax payments. Our utilization of tax loss carryforwards for federal tax in Hungary is limited to only 50% of taxable income in fiscal 2014 and beyond. During the first three months of fiscal 2013, an expense of $0.2 million was incurred related to the local Hungarian municipality tax and less than $0.1 million was recorded related to U.S. and Mexico minimum tax payments.

Note 8 - Income Taxes

3 Months Ended

Dec. 31, 2013

8. INCOME TAXES

The Company currently has net operating loss carryforwards available to offset future tax liabilities. The Company has recorded a full valuation allowance against its deferred tax assets in Hungary, the United States and Mexico. The valuation allowance will be retained until there is sufficient positive evidence to conclude that it is more likely than not that the tax benefits associated with the deferred tax asset, or some portion of them, will be realized. In the consolidated balance sheet, the Company classifies its deferred tax assets and liabilities as either current or non-current, according to the expected reversal date of the temporary differences as of the reporting date.

As of December 31, 2013, we have released uncertain tax positions due to the expiration of the statute of limitations, which recorded a tax benefit of $0.5 million. The Company tracks uncertain tax positions under the guidance of ASC 740-10. Income tax benefit was $0.1 million for the three months ended December 31, 2013, compared to an expense of $0.6 million for the three months ended December 31, 2012. During the first three months of fiscal 2014, the Company recognized expense of $0.3 million related to the local Hungarian municipality tax, and $0.1 million was recorded related to U.S. and Mexico minimum tax payments. Our utilization of tax loss carryforwards for federal tax in Hungary is limited to only 50% of taxable income in fiscal 2014 and beyond. During the first three months of fiscal 2013, an expense of $0.2 million was incurred related to the local Hungarian municipality tax and less than $0.1 million was recorded related to U.S. and Mexico minimum tax payments.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details