Rosetta Stone 2010 Annual Report Download - page 54
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Table of Contents
Results of Operations
The following table sets forth our consolidated statement of operations for the periods indicated.
Year Ended December 31,
2010 2009 2008
(in thousands, except per share data)
Statements of Operations Data:
Revenue $ 258,868 $ 252,271 $ 209,380
Cost of revenue 38,999 33,427 28,676
Gross profit 219,869 218,844 180,704
Operating expenses:
Sales and marketing 130,879 114,899 93,384
Research and development 23,437 26,239 18,387
General and administrative 53,239 57,182 39,577
Lease abandonment (583) (8) 1,831
Total operating expenses 206,972 198,312 153,179
Income from operations 12,897 20,532 27,525
Other income and expense:
Interest income 262 159 454
Interest expense (66) (356) (891)
Other (expense) income (220) 112 239
Interest and other income (expense), net (24) (85) (198)
Income before income taxes 12,873 20,447 27,327
Income tax expense (benefit) (411) 7,084 13,435
Net income 13,284 13,363 13,892
Preferred stock accretion — — —
Income attributable to common stockholders $ 13,284 $ 13,363 $ 13,892
Income per share attributable to common stockholders:
Basic $ 0.65 $ 0.89 $ 7.29
Diluted $ 0.63 $ 0.67 $ 0.82
Common shares and equivalents outstanding:
Basic weighted average shares 20,439 14,990 1,905
Diluted weighted average shares 21,187 19,930 16,924
Stock-based compensation included in:
Cost of sales $ 39 $ 34 $ 2
Sales and marketing 774 999 153
Research and development 1,181 5,959 482
General and administrative 2,393 15,158 953
$ 4,387 $ 22,150 $ 1,590
Intangible amortization included in:
Cost of sales $ — $ — $ 13
Sales and marketing 58 42 3,003
$ 58 $ 42 $ 3,016
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