Document_2 - $15,525,000 in 2003, and $10,675,000 in 2002....

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Research and Development We believe that our research and development efforts are essential to our ability to design and deliver our products successfully to our targeted customers and to modify and improve them to reflect the evolution of markets and customers needs. Our research and development team has worked closely with potential customers to define product features and performance to address specific needs. Our research and development expenses, including engineering expenses, were approximately $8,250,000 in 2004,
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Unformatted text preview: $15,525,000 in 2003, and $10,675,000 in 2002. We expect research and development expenses in 2005 to be lower than in 2004. As we determine market opportunities, we may need to make significant levels of research and development expenditures in the future. As of December 31, 2004, we employed 25 engineers and technicians who were engaged in research and development....
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This note was uploaded on 12/17/2010 for the course TECHNOLOGY WPR 201 taught by Professor Na during the Fall '10 term at Sullivan.

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