NetFlix 2002 Annual Report Download - page 18

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Item 2. Properties
Our executive offices are located in Los Gatos, California, where we lease approximately 25,000 square feet under a lease that expires in October 2005. We also lease approximately 50,000
square feet of space in San Jose, California, where we maintain our customer service center, information technology operations and shipping center for the San Francisco Bay metropolitan
area under a lease that expires in December 2004. As of December 31, 2002, we also had entered into leases with terms of less than 12 months for a total of approximately 72,000 square feet
for shipping centers serving the metropolitan markets of Atlanta, Boston, Dallas, Denver, Detroit, Houston, Los Angeles, Minneapolis, New York, Newark, Phoenix, Stamford, Seattle, and
Washington, DC.
Item 3. Legal Proceedings
From time to time, we are subject to legal proceedings that arise in the ordinary course of our business, including claims relating to employee relations and business practices. However, we
believe that these proceedings are not likely to result in judgments that will have a material adverse effect on our business, financial condition or operating results.
Item 4. Submission of Matters to a Vote of Securities Holders
None.
PART II
Item 5. Market for the Registrant’s Common Equity and Related Stockholder Matters
Our common stock has traded on the Nasdaq National Market under the symbol “NFLX” since our initial public offering on May 23, 2002. As of March 12, 2003, there were approximately
144 stockholders of record of Netflix’s common stock, although Netflix believes that there is a significantly larger number of beneficial owners of our common stock.
The following table sets forth the high and low per share closing prices of Netflix’s common stock for the periods indicated, as reported by the Nasdaq National Market.
High Low
Year Ended December 31, 2002
Second Quarter $ 16.94 $ 12.75
Third Quarter $ 17.87 $ 9.70
Fourth Quarter $ 12.79 $ 5.22
We have not declared or paid any cash dividends, and we have no present intention of paying any cash dividends in the foreseeable future.
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