Stamps.com 2001 Annual Report Download - page 28

Download and view the complete annual report

Please find page 28 of the 2001 Stamps.com annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 83

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83

ITEM 6. SELECTED FINANCIAL DATA
The following selected statement of operations data for the three years in the period ended December 31, 2001 and the balance sheet data as of
December 31, 2001 and 2000 are derived from our consolidated financial statements and notes thereto, included elsewhere herein, and are
audited by Arthur Andersen LLP, independent public accountants, as set forth in their report included later in this report. The selected statement
of operations data for the period ended December 31, 1998 and the balance sheet data as of December 31, 1998 and 1999 were derived from
our audited financial statements, which are not included in this report. The following data should be read in conjunction with "Management's
Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements, including the notes
thereto, included elsewhere in this report.
Period from
January 9,
1998
Year ended December 31, (inception) to
------------------------------ December 31,
2001 2000 1999 1998
--------- --------- -------- --------------
(in thousands, except per share data)
Statement of Operations Data:
Revenues..................................................... $ 19,427 $ 15,234 $ 358 $ --
Cost of sales................................................ 7,954 23,691 2,430 --
Research and development..................................... 12,578 33,051 7,363 1,532
Sales and marketing.......................................... 9,684 72,966 35,208 632
General and administrative................................... 33,036 102,191 14,333 2,016
Impairment of goodwill....................................... 163,634 -- -- --
Provision for loss on loan with former officer............... -- 3,346 -- --
Restructuring charges(2)..................................... 25,974 11,475 -- --
Loss from sale of iShip(1)................................... 9,397 -- -- --
Loss from operations(1)...................................... (242,830) (231,486) (58,976) (4,180)
Interest income (expense), net............................... 10,062 18,436 2,489 (16)
Gain from shut down of EncrypTix(3).......................... 23,195 -- -- --
Net loss..................................................... $(209,573) $(212,949) $(56,487) $(4,196)
Basic and diluted net loss per share......................... $ (4.14) $ (4.54) $ (2.59) $ (.85)
Weighted average shares outstanding used in basic and diluted
per-share calculation...................................... 50,645 46,888 21,824 4,956
As of December 31,
----------------------------------
2001 2000 1999 1998
-------- -------- -------- -------
(in thousands)
Balance Sheet Data:
Cash and investments......................................... $192,924 $247,939 $374,746 $ 3,470
Working capital.............................................. 185,786 234,645 390,357 1,385
Total assets................................................. 222,586 486,938 410,442 4,425
Line of credit, capital lease obligations and other long-term
liabilities................................................ 98 9,114 1,951 1,473
Total stockholders' equity (deficit)......................... 217,259 422,681 401,598 (3,951)
(1) See the acquisition, investment in and sale of subsidiary footnote beginning on page F-9.
(2) See restructuring footnote beginning on page F-15.
(3) See change in ownership and shutdown of subsidiary footnote beginning on page F-10.
24
2002. EDGAR Online, Inc.