January 22, 2018 / 9:38 PM / 3 months ago

BRIEF-Haynes International Reports On Tax Cuts And Jobs Act

Jan 22 (Reuters) - Haynes International Inc:

* HAYNES INTERNATIONAL, INC. REPORTS ON TAX CUTS AND JOBS ACT

* HAYNES INTERNATIONAL INC - AS A RESULT OF REDUCTION IN CORPORATE INCOME TAX RATE, CO IS REQUIRED TO REVALUE ITS NET DEFERRED TAX ASSET

* HAYNES INTERNATIONAL INC - CO EXPECTS TAX CUTS AND JOBS ACT WILL POSITIVELY IMPACT FUTURE EFFECTIVE TAX RATE AND AFTER-TAX EARNINGS IN UNITED STATES​

* HAYNES INTERNATIONAL INC - REQUIRED TO REVALUE NET DEFERRED TAX ASSET TO ACCOUNT FOR FUTURE IMPACT OF LOWER CORPORATE TAX RATES ON DEFERRED AMOUNT

* HAYNES INTERNATIONAL INC - ‍PRELIMINARILY DETERMINED AMOUNT OF EXPENSE DUE TO ACT TO BE ABOUT $19.0-$20.0 MILLION, WHICH WILL REDUCE CO’S Q1 2018 RESULTS​

* HAYNES INTERNATIONAL INC - CO IS REQUIRED TO RECORD ANY CHANGE IN VALUE OF TAX ASSET AS A ONE-TIME NON-CASH CHARGE ON ITS INCOME STATEMENT Source text for Eikon: Further company coverage:

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