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Technology Stocks : BSQUARE Corporation (BSQR)

BSQR 1.890

+0.5%

Dec 7 4:00 PM EST

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To: Glenn Petersen who wrote (123)	3/27/2004 3:23:06 PM
From: Glenn Petersen	of 132

BSQUARE Announces New Corporate Headquarters Tuesday February 24, 8:55 am ET Lease Restructurings Reduce Overhead by $7.8 Million biz.yahoo.com BELLEVUE, Wash.--(BUSINESS WIRE)--Feb. 24, 2004--BSQUARE Corporation (Nasdaq:BSQR - News) announced today the completion of the last in a series of lease restructurings aimed at reducing overall facilities costs in 2004 and beyond. BSQUARE completed the negotiation for a new corporate headquarters with Equity Office Properties Trust (EOP), a Chicago, IL based REIT. The new 43,000 square foot headquarters facility is located in downtown Bellevue, Washington. BSQUARE's current 90,000 square foot headquarters is also located in Bellevue. The new lease term will run through 2014. ADVERTISEMENT "These restructurings are a significant step in our continuing efforts to lower our ongoing operating costs in areas that won't impact our potential for growth," said Brian Crowley, BSQUARE's president and CEO. "This caps off a series of cost reduction efforts that began in 2003 with similar efforts to reduce or eliminate facilities obligations with respect to our California and Japan facilities obligations. Our combined facility costs will be reduced from approximately $9.7 million in 2003 to approximately $1.9M in 2004. This represents a significant savings that will greatly facilitate our efforts to return to profitability." The Company expects to move into the new headquarters mid-year. <snip>

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