Overstock.com 2010 Annual Report Download - page 48
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Table of Contents
Year ended December 31,
2010 2009 2008 2007 2006
(in thousands, except per share data)
Net income (loss) per common share—diluted:
Income (loss) from continuing operations after dividend related to
redeemable common stock $ 0.59 $ 0.33 $ (0.48)$ (1.86)$ (4.91)
Loss from discontinued operations $ — $ — $ — $ (0.17)$ (0.34)
Net income (loss) attributable to common shares—diluted $ 0.59 $ 0.33 $ (0.48)$ (2.03)$ (5.25)
Weighted average common shares outstanding—diluted 23,366 23,067 22,901 23,704 20,332
Balance Sheet Data:
Cash and cash equivalents $124,021 $139,757 $ 96,457 $ 92,809 $114,695
Restricted cash 2,542 4,414 4,262 8,634 12,270
Marketable securities — — 8,989 46,000 —
Working capital 14,746 51,236 41,780 62,621 59,475
Total assets 217,959 216,500 181,136 231,143 264,453
Total indebtedness 52,845 61,687 67,821 78,418 84,336
Redeemable common stock 570 744 1,263 — —
Stockholders' equity (deficit) 30,658 10,800 (2,246) 18,212 56,367
During the fourth quarter of 2006, we commenced implementation of a facilities consolidation and restructuring program designed to
reduce the overall expense structure in an effort to improve future operating performance (see Item 15 of Part IV, "Financial
Statements"—Note 3—"Restructuring Expense").
As part of the program to reduce our expense structure and sell non-core businesses, we decided during the fourth quarter of 2006 to
sell our travel subsidiary ("OTravel"). As a result, OTravel's operations have been classified as a discontinued operation and therefore
are not included in the results of continuing operations. The loss from discontinued operations for OTravel was $6.9 million for the
year ended December 31, 2006 (including a goodwill impairment charge of $4.5 million) and $3.9 million for the year ended
December 31, 2007 (including a goodwill impairment charge of $3.8 million).
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