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Technology Stocks : Network Appliance -- Ignore unavailable to you. Want to Upgrade?

To: DownSouth who wrote (340)	7/23/1998 2:53:00 PM
From: Fortney Veeble	Read Replies (1) \| Respond to of 10934

NTAP has filed their 10-K annual report, for fiscal year ending 4/98, with the SEC. This somewhat long (and dry) document is like the glossy annual report, but without color pictures and self-congratulatory prose. The 10-K summarizes the numbers and tries to say how and why they have changed. It also warns of identifiable risks to the business. I've skimmed this 10-K and it sounds like NTAP's train is still on the track. Gross margins are steady at about 59%; sales and marketing is also steady at about 26%; R&D has increased slightly from 9.6% to 10%; G&A expenses have declined, percentage-wise, from 4.4% to 3.9% (nice!). Asian exposure remains modest (less than 10% of sales), and European sales are increasing rapidly (up 178% from FY'97 to FY'98). see this URL for the document: sec.yahoo.com