NEXC » Topics » Operating Expenses

This excerpt taken from the NEXC 10-K filed Mar 15, 2006.

Operating Expenses

 

During the first quarter of 2005 we substantially completed transitional activities that related to ongoing obligations we had to the buyers of our Transportation and Mobile Government businesses. We have streamlined our corporate infrastructure to the level required to support our ongoing MBS business and do not anticipate any significant further declines in operating expenses. Costs incurred in connection with our examination and additional or alternative strategic business opportunities, as discussed above in Item 1A “Risk Factors - Other Risk of Our Business,” may result in an increase in our expenses during 2006 from current levels.

 

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Our operating expenses declined significantly in 2003 and 2004, primarily due to the results of our restructuring efforts, in which we streamlined our organization and reduced our workforce.

 

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