Overstock.com 2010 Annual Report Download - page 47

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Table of Contents
ITEM 6. SELECTED FINANCIAL DATA
The selected consolidated financial data presented below should be read in conjunction with the consolidated financial statements of Overstock.com, Inc.
and subsidiaries and related footnotes included elsewhere in this annual report on Form 10-K and the discussion under Item 7—"Management's Discussion
and Analysis of Financial Condition and Results of Operations." The selected consolidated financial data has been derived from our audited consolidated
financial statements included elsewhere in this Form 10-K. The historical financial and operating information may not be indicative of our future
performance.
Year ended December 31,
2010 2009 2008 2007 2006
(in thousands, except per share data)
Consolidated Statement of Operations Data:
Revenue, net
Direct $ 209,646 $150,901 $173,687 $197,088 $ 301,509
Fulfillment partner 880,227 725,868 656,163 568,814 478,628
Total net revenue 1,089,873 876,769 829,850 765,902 780,137
Cost of goods sold
Direct 187,124 130,890 153,967 168,008 284,774
Fulfillment partner 713,109 581,127 531,647 473,344 405,559
Total cost of goods sold 900,233 712,017 685,614 641,352 690,333
Gross profit 189,640 164,752 144,236 124,550 89,804
Operating expenses:
Sales and marketing 61,334 55,549 57,668 55,458 70,897
Technology 58,260 52,336 56,677 59,453 65,158
General and administrative 55,650 48,906 39,348 41,976 46,837
Restructuring(1) (569) (66) (299) 12,283 5,674
Total operating expenses 174,675 156,725 153,394 169,170 188,566
Operating income (loss) 14,965 8,027 (9,158) (44,620) (98,762)
Interest income 157 170 3,163 4,788 3,566
Interest expense (2,962) (3,470) (3,565) (4,188) (4,765)
Other income (expense), net 2,088 3,277 (1,446) (92) 81
Income (loss) from continuing operations before income taxes 14,248 8,004 (11,006) (44,112) (99,880)
Provision for income taxes (359) (257) — — —
Income (loss) from continuing operations 13,889 7,747 (11,006) (44,112) (99,880)
Loss from discontinued operations(2) — — — (3,924) (6,882)
Net income (loss) 13,889 7,747 (11,006) (48,036) (106,762)
Deemed dividend related to redeemable common stock (112) (48) (77) — (99)
Net income (loss) attributable to common shares $ 13,777 $ 7,699 $(11,083)$ (48,036)$(106,861)
Net income (loss) per common share—basic:
Income (loss) from continuing operations after
dividend related to redeemable common stock $ 0.60 $ 0.34 $ (0.48)$ (1.86)$ (4.91)
Loss from discontinued operations $ — $ — $ — $ (0.17)$ (0.34)
Net income (loss) attributable to common share—basic $ 0.60 $ 0.34 $ (0.48)$ (2.03)$ (5.25)
Weighted average common shares outstanding—basic 23,019 22,821 22,901 23,704 20,332
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