Classmates.com 2010 Annual Report Download - page 143

Table of Contents
UNITED ONLINE, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
9. INCOME TAXES (Continued)
foreign net operating loss carryforwards have an indefinite life. With respect to the state net operating loss carryforwards, certain amounts will
be further reduced pursuant to the state allocation and apportionment laws. These carryforwards have been adjusted to reflect the Company's
estimate of limitations under Section 382 of the Internal Revenue Code of 1986, as amended.
10. NET INCOME (LOSS) PER COMMON SHARE
The following table sets forth the computation of basic and diluted net income (loss) per common share (in thousands, except per share
amounts):
The diluted net income (loss) per common share computations exclude stock options and restricted stock units which are antidilutive.
Weighted-average antidilutive shares for the years ended December 31, 2010, 2009 and 2008 were 2.5 million, 5.2 million and 7.1 million,
respectively.
11. RESTRUCTURING CHARGES
In the year ended December 31, 2010, the Company recorded restructuring charges totaling $2.8 million. In the December 2010 quarter, the
Communications segment eliminated 22 positions and the Company recorded restructuring charges totaling $1.3 million related to employee
termination benefits. All costs related to the elimination of these positions were recognized and incurred in the December 2010 quarter. In
addition, in the year ended December 31, 2010, the FTD segment recorded $1.6 million of restructuring charges primarily related to the closure
of certain call center facilities in the U.S. and the U.K. These restructuring charges primarily included lease termination costs and employee
termination benefits.
In the year ended December 31, 2009, the Company recorded restructuring charges totaling $3.5 million primarily associated with a
reduction in headcount in its Content & Media and Communications segments. In November 2009, the Content & Media segment eliminated 71
positions and the Company recorded restructuring charges related to employee termination benefits, and the
F-37
Year Ended December 31,
2010
2009
2008
Numerator:
Net income (loss)
$
53,687
$
70,085
$
(94,657
)
Income allocated to participating securities
(3,233
)
(4,647
)
(3,065
)
Net income (loss) applicable to common stockholders
$
50,454
$
65,438
$
(97,722
)
Denominator:
Weighted
-
average common shares
86,429
83,698
73,261
Less: weighted-average common shares subject to repurchase
rights
—
—
(
25
)
Shares used to calculate basic net income (loss) per common
share
86,429
83,698
73,236
Add: Dilutive effect of non
-
participating securities
633
688
—
Shares used to calculate diluted net income (loss) per common
share
87,062
84,386
73,236
Basic net income (loss) per common share
$
0.58
$
0.78
$
(1.33
)
Diluted net income (loss) per common share
$
0.58
$
0.78
$
(1.33
)