Brief: Penns Woods' Q4 Net Deferred Tax Assets To Be Reduced By About $3.7 Million

Penns Woods Bancorp

11/01/2018 15:13

Jan 11 (Reuters) - Penns Woods Bancorp Inc  PWOD.O : 
    * AS PER PRELIMINARILY ESTIMATE, CO'S NET DEFERRED TAX 
ASSETS 
WOULD BE REDUCED BY ABOUT $3.7 MILLION IN Q4 DUE TO TAX CUTS AND 
JOBS ACT 
    * REDUCTION IN NET DEFERRED TAX ASSETS REPRESENTS NEGATIVE 
IMPACT 
ON EARNINGS OF ABOUT $0.79 PER DILUTED SHARE IN Q4 
    * DOES NOT EXPECT FUTURE CASH EXPENDITURES AS A RESULT OF 
REDUCTION TO NET DEFERRED TAX ASSETS 
 
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