Digital River 2006 Annual Report Download - page 38

Download and view the complete annual report

Please find page 38 of the 2006 Digital River annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 114

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

2006 2005 2004 2003 2002
Year Ended December 31,
As Restated(1) As Restated(1) As Restated(2) As Restated(2)
(In thousands, except per share data)
Statement of Operations Data:
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . $307,632 $220,408 $154,130 $101,201 $77,783
Costs and expenses (exclusive of depreciation
and amortization expense shown separately
below)
Direct cost of services . . . . . . . . . . . . . . . . 7,709 5,063 5,167 3,857 2,717
Network and infrastructure . . . . . . . . . . . . . 29,250 19,817 15,164 12,295 11,455
Sales and marketing . . . . . . . . . . . . . . . . . 113,462 69,371 52,083 37,685 33,061
Product research and development . . . . . . . . 32,341 20,690 14,293 10,263 11,929
General and administrative . . . . . . . . . . . . . 34,158 21,484 17,006 9,389 9,469
Depreciation and amortization . . . . . . . . . . 10,983 8,833 8,203 7,275 6,009
Amortization of acquisition related
intangibles . . . . . . . . . . . . . . . . . . . . . . 12,134 8,730 8,269 5,380 5,738
Total costs and expenses . . . . . . . . . . . . . . 240,037 153,988 120,185 86,144 80,378
Income (loss) from operations . . . . . . . . . . . . 67,595 66,420 33,945 15,057 (2,595)
Other income, net . . . . . . . . . . . . . . . . . . . . . 21,887 4,967 1,641 838 406
Income (loss) before income tax expense. . . . . 89,482 71,387 35,586 15,895 (2,189)
Income tax expense. . . . . . . . . . . . . . . . . . . . 28,672 14,875 1,079 — —
Net income (loss) . . . . . . . . . . . . . . . . . . . . . $ 60,810 $ 56,512 $ 34,507 $ 15,895 $ (2,189)
Net income (loss) per share — basic . . . . . . . . $ 1.58 $ 1.64 $ 1.07 $ 0.54 $ (0.08)
Net income (loss) per share — diluted . . . . . . . $ 1.40 $ 1.41 $ 0.94 $ 0.48 $ (0.08)
Shares used in per-share calculation — basic . . 38,593 34,536 32,328 29,398 26,791
Shares used in per-share calculation —
diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . 44,642 41,448 38,532 33,051 26,791
(1) See Note 2, “Restatement of Consolidated Financial Statements,” in Notes to Consolidated Financial
Statements.
34