Incredimail 2013 Annual Report Download - page 99
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PERION
NETWORK LTD. AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share data)
The accompanying notes are an integral part of the consolidated financial statements.
Year ended December 31,
2011
2012
2013
Revenues:
Search
$
25,466
$
38,061
$
59,038
Products
7,191
17,574
17,818
Advertising and other
2,816
4,588
10,292
35,473
60,223
87,148
Cost of revenues
2,840
5,230
11,440
Gross profit
32,633
54,993
75,708
Operating expenses:
Research and development, net
7,453
10,735
13,393
Selling and marketing
12,984
29,517
43,358
General and administrative
7,649
8,560
15,077
Total operating expenses
28,086
48,812
71,828
Operating income
4,547
6,181
3,880
Financial income (expense), net
1,293
(174
)
( 1,233
)
Income before taxes on income
5,840
6,007
2,647
Taxes on income
172
2,473
2,337
Net income
$
5,668
$
3,534
$
310
Net earnings per share:
Basic
$
0.58
$
0.35
$
0.03
Diluted
$
0.57
$
0.34
$
0.02
F
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