2001 annual report states that nbsc owns a 243,000 sf building in Edison, NJ consisting of 50,000sf of office; 7,300 sf lab, and the balance manufacturing/warehouse - all located on 17 acres. Additionally the company owns a 22,825sf building in the Netherlands. Cost of land is $800k and buildings $4,294k, for a total cost of $5,094,000. Net PP&E is $4,868k.
1) Appears that land & bldg have been significantly depreciated off balance sheet.
2) Has anyone been to the Edison facility and care to hazard a guess as to its market value? I am wondering if there is a significant off-balance sheet asset here.
3) Does this company make good use of its space? seems like a lot of real estate... (simply a gut reaction, again, has anyone visited the place?)
Also noted that the 85 year old treasurer, Sigmund Freedman has not had a raise in his $101,000 salary in 3 years. Wonder if Sig is active or basically holding an honorary title with annuity.
Nice annual report. |
