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45
Results of Operations
The following tables set forth our results of operations for the periods presented. The period-to-period comparison of financial
results is not necessarily indicative of future results.
Year ended December 31,
2014
2013
2012
(In thousands)
Revenue:
Service revenue ..................................................................................... $ 137,711 $195,269 $207,640
Product revenue ..................................................................................... 34,718 14,142
-
Total revenue ...................................................................................... 172,429 209,411 207,640
Operating expenses(1)(2):
Service costs (exclusive of amortization of intangible assets shown
separately below) ................................................................................... 43,325 51,274 54,304
Product costs ......................................................................................... 26,058 9,882 -
Sales and marketing............................................................................... 20,046 36,275 38,948
Product development ............................................................................. 29,387 32,185 31,190
General and administrative .................................................................... 50,179 53,014 54,082
Goodwill impairment charge ................................................................. 232,270 - -
Amortization of intangible assets .......................................................... 38,316 36,519 32,402
Total operating expenses .................................................................... 439,581 219,149 210,926
Loss from operations ................................................................................ (267,152) (9,738 ) (3,286)
Interest income ...................................................................................... 328 5 31
Interest expense ..................................................................................... (4,692) (1,642 ) (622)
Other income (expense), net .................................................................. 654 13 (36)
Loss from continuing operations before income taxes ............................. (270,862) (11,362 ) (3,913)
Income tax benefit (expense) ................................................................... 14,713 (2,856 ) (951)
N
et loss from continuing operations ........................................................ (256,149) (14,218 ) (4,864)
N
et income (loss) from discontinued operations(1)(2) ................................ (11,208) (5,956 ) 11,040
N
et income (loss) ..................................................................................... $ (267,357) $ (20,174 ) $6,176
(1) Depreciation expense included in the above line items:
Service costs ............................................................................................. $ 6,798 $ 9,594 $ 10,993
Sales and marketing ................................................................................. 156 275 354
Product development ................................................................................ 496 645 801
General and administrative ...................................................................... 4,802 3,942 2,869
Discontinued operations ........................................................................... 4,662 6,045 4,641
Total depreciation .................................................................................. $ 16,914 $ 20,501 $ 19,658
(2) Stock-based compensation included in the above line items:
Service costs ............................................................................................. $ 1,422 $ 2,420 $2,424
Sales and marketing ................................................................................. 683 3,823 5,114
Product development ................................................................................ 4,745 3,835 4,942
General and administrative ...................................................................... 12,016 12,525 14,709
Discontinued operations ........................................................................... 2,949 4,781 4,179
Total stock-based compensation ............................................................ $ 21,815 $ 27,384 $ 31,368