Classmates.com 2003 Annual Report Download - page 46

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F-5
The accompanying notes are an integral part of these consolidated financial statements.
F-6
UNITED ONLINE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
assumed for acquisitions
22,385
2
81,264
— — — —
81,266
Repurchases of common stock
(1,500
)
—
(
3,557
)
—
—
—
—
(
3,557
)
Cancellations of previously issued
equity awards — — (
3,184
) —
3,184
— — —
Repayments of notes receivable from
stockholders — — —
6
— — —
6
Stock-based charges — — — —
6,417
— —
6,417
Issuance of restricted shares to
employees
284
—
—
—
—
—
—
—
Unrealized gain on short-term
investments, net of tax — — — — —
148
—
148
Interest earned on notes receivable
from stockholders — — — (
52
) — — — (
52
)
Net loss
— — — — — — (
47,810
)
(47,810
)
Balance at June 30, 2002
60,851
6
539,624
(1,575
)
(107
)
1,015
(360,177
)
178,786
Issuance of common stock through
employee stock purchase plan
939
—
1,862
— — — —
1,862
Exercises of stock options
2,682
—
6,962
—
—
—
—
6,962
Repurchases of common stock
(762
) — (
7,777
) — — — — (
7,777
)
Stock-based charges — — — —
107
— —
107
Unrealized gain on short-term
investments, net of tax — —
992
— —
1,429
—
2,421
Tax benefits from stock options — —
5,184
— — — —
5,184
Interest earned on notes receivable
from stockholders — — — (
78
) — — — (
78
)
Repayments of notes receivable from
stockholders
—
—
—
1,653
—
—
—
1,653
Net income
— — — — — —
27,792
27,792
Balance at June 30, 2003
63,710
6
546,847
— —
2,444
(332,385
)
216,912
Issuance of common stock through
employee stock purchase plan
525
—
1,679
—
—
—
—
1,679
Exercises of stock options
1,698
—
8,971
— — — —
8,971
Exercise of warrants
35
— — — — — — —
Repurchases of common stock
(2,024
)
—
(
40,002
)
—
—
—
—
(
40,002
)
Unrealized loss on short-term
investments, net of tax — — (
553
) — — (
796
) — (
1,349
)
Tax benefits from stock options
—
—
18,286
—
—
—
—
18,286
Net income
— — — — — —
33,327
33,327
Balance at December 31, 2003
63,944
$
6
$
535,228
$ — $ — $
1,648
$
(299,058
) $
237,824
Year Ended June 30,
Six Months Ended
December 31, 2003
2003
2002
2001
Cash flows from operating activities:
Net income (loss)
$
33,327
$
27,792
$
(47,810
)
$
(205,756
)
Adjustments to reconcile net income (loss) to net cash provided by (used for)
operating activities:
Depreciation and amortization
11,076
27,560
32,415
33,110
Allowance for doubtful accounts
—
—
98
1,120
Stock-based charges —
107
6,417
19,287
Deferred taxes
(5,632
)
(4,336
) — —
Tax benefits from stock options
7,000
1,464
— —