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NETSUITE SPELLS OUT CZECH SUBSIDY

Netsuite logoNetSuite received $625,000 in expense reimbursements from the government of the Czech Republic for the nine months ended September 30. The information is contained in the company's form 10-Q for the third quarter in the section about possible risks, which is usually more boiler plate than interesting reading in most documents.

I always mentally categorize those warnings as "In case of another ice age, we may not be able to sustain operation." But this is a lot more interesting. NetSuite notes that the Czech government reimburses the cloud-based company for some operating expenses it incurs because of its employment of local residents. Many companies utilize Eastern European programming talent, but this is a first time I remember seeing specifics, including from NetSuite. The company says the reimbursable expenditures are "primarily salaries for persons conducting product development activities." The amount mentioned covers expects from November 2010 through September 30. NetSuite recorded expected payments for the nine months at $1.4 million.

 

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