Shutterfly 2009 Annual Report Download - page 44

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Year Ended December 31,
2008
2007
2006
2005
2004
(In thousands)
Cost of net revenues
$
317
$
189
$
96
$
28
$
21
Technology and development
2,140
880
736
826
263
Sales and marketing
2,198
877
521
239
117
General and administration
3,973
2,055
947
2,217
1,790
$
8,628
$
4,001
$
2,300
$
3,310
$
2,191
(2)
Includes $0.4 million of cumulative effect of a change in accounting principle related to the adoption of FSP 150-5 in July 2005,
Issuer's
Accounting under Statement 150 for Freestanding Warrants and Other Similar Instruments on Shares That Are Redeemable.
(3)
Includes stock
-
baesd compensation expense under Statement of Financial Accounting Standards, or SFAS, No. 123(R),
Share
-
Based
Payment
, which requires stock-
based compensation expense to be recongized based on the grant date fair value. Periods prior to January
1, 2006 have not been restated to include the compensation charges associated with the provisions of SFAS No. 123(R).
December 31,
2008
2007
2006
2005
2004
(In thousands)
Consolidated Balance Sheet Data:
Cash, cash equivalents, and short term investments
$
88,164
$
125,584
$
119,051
$
39,153
$
13,781
Property and equipment, net
48,006
48,416
30,919
20,761
11,723
Working capital
58,232
104,025
102,165
22,687
690
Total assets
232,806
208,770
180,160
89,552
29,865
Capital lease obligations, less current portion
17
107
1,742
3,646
2,709
Preferred stock warrant liability
—
—
—
1,535
—
Redeemable convertible preferred stock
—
—
—
89,652
69,822
Total stockholders
’
equity (deficit)
186,311
170,566
151,326
(27,262
)
(59,568
)
42