Why did Vonage have to pay taxes, when their company had a -64,000,000 in EBIT? Companies shouldn't pay taxes for a loss.
PERIOD ENDING 31-Dec-08 Total Revenue 900,120 Cost of Revenue 305,592
Gross Profit 594,528
Research Development - Selling General and Administrative 552,355 Non Recurring - Others 48,612
Total Operating Expenses -
Operating Income or Loss -6,439
Total Other Income/Expenses Net -27,581 Earnings Before Interest And Taxes -34,020 Interest Expense 29,878 Income Before Tax -63,898 Income Tax Expense 678 Minority Interest -
Net Income From Continuing Ops -64,576
Discontinued Operations - Extraordinary Items - Effect Of Accounting Changes - Other Items -
Net Income -64,576 Preferred Stock And Other Adjustments -
Net Income Applicable To Common Shares ($64,576)