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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (39319)	9/17/2010 12:46:11 PM
From: Madharry	Read Replies (2) of 78753

GFRE-thats what the category depreciation and amortization is for for 2009 that number was a bit over $7 million and net plant and property was $81 million. that number might seem low but we have to remember that capital expenditures during 2009 was close to $39 million.One would hope that the cpa makes sure that the depreciation and depletion calculations are reasonable. looking over the 2009 10k i did believe i found a typo with respect to utilization ratio of one of the factories and i have queried investor relations about that. the utilization drop from 90% to 81% seemed excessive to me and by my calculations it looked like the drop was more like from 84% to 81%.

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