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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Mike Buckley who wrote (53416)	1/12/2003 5:34:19 PM
From: DownSouth	Read Replies (1) of 54805

I'd appreciate it if someone could save me the time of trying to figure out why NTAP's CAPEX in Q402 was $261 million, more CAPEX than in the previous 5 1/2 years combined. "During the fourth quarter, NetApp discontinued its synthetic leases by purchasing the land and buildings at its Sunnyvale headquarters site for $249.8 million, converting restricted investments to property and equipment on the balance sheet. "Also during the fourth quarter, NetApp incurred a restructuring charge of $4.2 million primarily related to the closure of an engineering facility and consolidation of resources to the Sunnyvale headquarters. " investors.netapp.com investors.netapp.com

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