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These excerpts taken from the INAP 10-K filed Apr 30, 2008. Liability.
On March 31, 2007, we incurred a restructuring and impairment
charge totaling $10.3 million. The charge was the result of a review of our
business, particularly in light of our acquisition of VitalStream, and our plan
to finalize the overall integration and implementation plan before the end of
the first quarter. The charge to expense included $7.8 million for leased
facilities, representing both the net present value of costs less anticipated
sublease recoveries that will continue to be incurred without economic benefit
to us and costs to terminate leases before the end of their term. The charge
also included severance payments of $1.1 million for the termination of certain
Internap employees and $1.4 million for impairment of assets. Related
expenditures are estimated to be $10.7 million, of which $3.7 million has been
paid during the year ended December 31, 2007, and the balance continuing through
December 2016, the last date of the longest lease term. The impairment charge of
$1.3 million was related to the leases referenced above and less than $0.1
million for other assets.
We also
incurred a $1.1 million impairment recorded for a sales order-through-billing
system, which was a result of an evaluation of the existing infrastructure
relative to our new financial accounting system and the acquisition of
VitalStream.
Liability. On March 31, 2007, we incurred a restructuring and impairment charge totaling $10.3 million. The charge was the result of a review of our business, particularly in light of our acquisition of VitalStream, and our plan to finalize the overall integration and implementation plan before the end of the first quarter. The charge to expense included $7.8 million for leased facilities, representing both the net present value of costs less anticipated sublease recoveries that will continue to be incurred without economic benefit to us and costs to terminate leases before the end of their term. The charge also included severance payments of $1.1 million for the termination of certain Internap employees and $1.4 million for impairment of assets. Related expenditures are estimated to be $10.7 million, of which $3.7 million has been paid during the year ended December 31, 2007, and the balance continuing through December 2016, the last date of the longest lease term. The impairment charge of $1.3 million was related to the leases referenced above and less than $0.1 million for other assets. We also incurred a $1.1 million impairment recorded for a sales order-through-billing system, which was a result of an evaluation of the existing infrastructure relative to our new financial accounting system and the acquisition of VitalStream. These excerpts taken from the INAP 10-K filed Mar 31, 2008. Liability.
On March 31, 2007, we incurred a restructuring and impairment
charge totaling $10.3 million. The charge was the result of a review of our
business, particularly in light of our acquisition of VitalStream, and our plan
to finalize the overall integration and implementation plan before the end of
the first quarter. The charge to expense included $7.8 million for leased
facilities, representing both the net present value of costs less anticipated
sublease recoveries that will continue to be incurred without economic benefit
to us and costs to terminate leases before the end of their term. The charge
also included severance payments of $1.1 million for the termination of certain
Internap employees and $1.4 million for impairment of assets. Related
expenditures are estimated to be $10.7 million, of which $3.7 million has been
paid during the year ended December 31, 2007, and the balance continuing through
December 2016, the last date of the longest lease term. The impairment charge of
$1.3 million was related to the leases referenced above and less than $0.1
million for other assets.
We also
incurred a $1.1 million impairment recorded for a sales order-through-billing
system, which was a result of an evaluation of the existing infrastructure
relative to our new financial accounting system and the acquisition of
VitalStream.
Liability. On March 31, 2007, we incurred a restructuring and impairment charge totaling $10.3 million. The charge was the result of a review of our business, particularly in light of our acquisition of VitalStream, and our plan to finalize the overall integration and implementation plan before the end of the first quarter. The charge to expense included $7.8 million for leased facilities, representing both the net present value of costs less anticipated sublease recoveries that will continue to be incurred without economic benefit to us and costs to terminate leases before the end of their term. The charge also included severance payments of $1.1 million for the termination of certain Internap employees and $1.4 million for impairment of assets. Related expenditures are estimated to be $10.7 million, of which $3.7 million has been paid during the year ended December 31, 2007, and the balance continuing through December 2016, the last date of the longest lease term. The impairment charge of $1.3 million was related to the leases referenced above and less than $0.1 million for other assets. We also incurred a $1.1 million impairment recorded for a sales order-through-billing system, which was a result of an evaluation of the existing infrastructure relative to our new financial accounting system and the acquisition of VitalStream. | EXCERPTS ON THIS PAGE:
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