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Phoenix reports large profits after settling dispute in Taiwan

February 17, 2010

Phoenix Technologies has seen a bigger than expected revenue increase in the first three months of its financial year after settling a dispute with the Taiwan National Tax Administration (TNTA).

“Based on our November settlement, and after adjusting our tax accruals related to subsequent years, we recorded a $7.1 million income tax benefit,” said Woody Hobbs, president and chief executive officer of the a global core systems software company.

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