Nuva's 1st Quarter report:
"""Our annual effective income tax rate for 2012 is expected to be higher than the U.S. federal statutory rate of 35% primarily due to state income taxes, net of federal benefit, estimates for certain non-deductible expenses, and FOREIGN LOSSES expected to be incurred for which no benefit can be recorded."""
http://biz.yahoo.com/e/120501/nuva10-q.html
---They show for now a 56% Income Tax Rate
"""We expect expenses recorded in connection with the amortization of intangible assets to continue to increase in absolute dollars for the foreseeable future as amortization of acquired in-process research and development commences once acquired research and development projects reach technological FEASIBILITY."""
The courts made them put money into escrow that they owe for their lawsuits...which they are appealing. If they have to pay it out:
"""""which could negatively impact our liquidity and our ability to invest in and run our business on an ongoing basis.""""
Also:
"""""The general condition of the financial markets and the economy has exacerbated those risks and may affect the value of our current investments and restrict our ability to access the capital markets or even our own funds.""""
They show an increase in 1st Quarter Net Cash Flow due to:
"""" ......a refund of $11.2 million relating to an overpayment at December 31, 2011"""
.....ummmm so they doubled their books cash flow over last years 1st quarter.....by overpaying something in December....genius. Certainly justifies their current stock price..
:/