Classmates.com 2008 Annual Report Download - page 100
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Table of Contents
UNITED ONLINE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
The accompanying notes are an integral part of these consolidated financial statements.
F-5
Year Ended December 31,
2008 2007 2006
Revenues
$
669,403
$
513,503
$
522,654
Operating expenses:
Cost of revenues (including stock
-
based compensation, see Note 10)
214,885
117,203
119,990
Sales and marketing (including stock
-
based compensation, see Note 10)
173,042
163,424
176,980
Technology and development (including stock
-
based compensation, see Note 10)
56,715
51,044
52,602
General and administrative (including stock
-
based compensation, see Note 10)
92,219
73,312
67,511
Amortization of intangible assets
18,415
12,800
17,640
Restructuring charges
656
3,419
627
Impairment of goodwill, intangible assets and long
-
lived assets
176,150
—
13,285
Total operating expenses
732,082
421,202
448,635
Operating income (loss)
(62,679
)
92,301
74,019
Interest income
4,527
7,141
5,802
Interest expense
(13,170
)
(3
)
(1,630
)
Other income (expense), net
(48
)
(747
)
(667
)
Income (loss) before income taxes
(71,370
)
98,692
77,524
Provision for income taxes
23,287
40,915
36,293
Income (loss) before cumulative effect of accounting change
(94,657
)
57,777
41,231
Cumulative effect of accounting change, net of tax (see Note 1)
—
—
1,041
Net income (loss)
$
(94,657
)
$
57,777
$
42,272
Basic net income (loss) per share:
Income (loss) before cumulative effect of accounting change
$
(1.29
)
$
0.87
$
0.64
Cumulative effect of accounting change, net of tax
—
—
0.02
Basic net income (loss) per share
$
(1.29
)
$
0.87
$
0.66
Diluted net income (loss) per share:
Income (loss) before cumulative effect of accounting change
$
(1.29
)
$
0.83
$
0.62
Cumulative effect of accounting change, net of tax
—
—
0.02
Diluted net income (loss) per share
$
(1.29
)
$
0.83
$
0.64
Shares used to calculate basic net income (loss) per share
73,236
66,768
64,001
Shares used to calculate diluted net income (loss) per share
73,236
69,287
66,269