Enom 2014 Annual Report Download - page 53

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50
Selected Quarterly Financial Data
The following unaudited quarterly consolidated statements of operations for the quarters in the years ended December 31, 2014
and 2013, have been prepared on a basis consistent with our audited consolidated annual financial statements, and include, in the
opinion of management, all normal recurring adjustments necessary for the fair statement of the financial information contained in
those statements. The period-to-period comparison of financial results is not necessarily indicative of future results and should be read
in conjunction with our consolidated annual financial statements and the related notes included elsewhere in this Annual Report on
Form 10-K.
Quarter ended
March 31, June 30,
September
30,
December
31, March 31, June 30,
September
30,
December
31,
2013 2013 2013 2013 2014 2014 2014 2014
(In thousands, except per share data)
Unaudited
Revenue:
Service revenue ............................................ $ 54,585 $ 52,849 $ 45,102 $ 42,733 $ 38,264 $ 36,397 $ 33,712 $ 29,338
Product revenue ............................................
- - 5,643 8,499 6,792 6,680 7,603 13,643
Total revenue ............................................. $ 54,585 $ 52,849 $ 50,745 $ 51,232 $ 45,056 $ 43,077 $ 41,315 $ 42,981
Income (loss) from operations ........................ $ 613 $ 907 $ (4,956 ) $ (6,302 ) $ (5,708 ) $ (5,215 ) $ (239,316 ) $ (16,913)
Net income (loss) from continuing
operations ..................................................... $ 402 $ (78) $ (6,526 ) $ (8,016) $ (8,946 ) $ (6,440 ) $ (222,533) $(18,230)
Net income (loss) from discontinued
operations ..................................................... 267 1,196 (3,914 ) (3,505 ) (2,010 ) (7,892 ) (1,306) -
Net income (loss) ......................................... $ 669 $ 1,118 $ (10,440 ) $ (11,521) $ (10,956 ) $ (14,332 ) $ (223,839) $(18,230)
Earnings per share - basic and diluted(1)
Net income (loss) from continuing
operations ..................................................... $ 0.02 $ (0.01) $ (0.36 ) $ (0.44 ) $ (0.49 ) $ (0.35 ) $ (11.62 ) $ (0.93)
Net income (loss) from discontinued
operations ..................................................... 0.02 0.07 (0.22 ) (0.20 ) (0.11 ) (0.43 ) (0.07 ) -
Net income (loss) ......................................... $ 0.04 $ 0.06 $ (0.58 ) $ (0.64 ) $ (0.60 ) $ (0.78 ) $ (11.69 ) $ (0.93)
Weighted average number of shares - basic ... 17,324 17,474 17,954 18,062 18,171 18,286 19,151 19,622
Weighted average number of shares -
diluted ........................................................... 17,549 17,474 17,954 18,062 18,171 18,286 19,151 19,622
(1) For a description of the method used to compute our basic and diluted net income (loss) per share, refer to note 7 in Part II, Item 6, “Selected Financial Data.”
Seasonality of Quarterly Results
Our Content & Media service offering is affected by seasonal fluctuations in internet usage and our Marketplaces service
offering is affected by traditional retail seasonality as well as seasonal fluctuations in internet usage. Internet usage generally slows
during the summer months while our online marketplaces generally experience increased sales activity during the fourth quarter
holiday season. These seasonal trends have caused, and will likely continue to cause, fluctuations in our quarterly results.
Liquidity and Capital Resources
As of December 31, 2014, we had $47.8 million of cash and cash equivalents. Our principal sources of liquidity are our cash and
cash equivalents, as well as the cash flow we generate from our operations. Historically, we have principally financed our operations
from the issuance of stock, net cash provided by our operating activities and borrowings under our previous credit facilities. We
believe that our existing cash and cash equivalents and our cash flows from operating activities will be sufficient to fund our
operations for at least the next 12 months. However, in order to fund our operations, make potential acquisitions and invest in our
platforms, technologies, intangible assets or new business opportunities, we may need to raise additional funds by entering into a new
credit facility or through the issuance of equity, equity-related or debt securities. We currently have a shelf registration statement on