Taking out a deferred tax benefit and other items, earnings were 36 cents per share.

WSJ: Prestige Brands returns to profit in 4th quarter

In addition, they anticipate that expenditures on repair and remodel activity will be challenged in the second half of 2010 and expect that big-ticket items will continue to be deferred, in the short-term, until general economic conditions, unemployment, consumer confidence, credit availability and home prices improve.

FORBES

The deals offer an added promise for even the least expensive items: that payments can be spread out or deferred over three, six and even ten months.

ECONOMIST: On the drip

Some people contend that deferred taxes distort cash flow calculations, as they are not necessarily recurring items.

FORBES: Forget Spending Money on Home Entertainment, Profit From It