Stamps.com 2001 Annual Report Download - page 44

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STAMPS.COM INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Year ended December 31,
------------------------------------
2001 2000 1999
--------- --------- --------
(in thousands, except per share data
Revenues:
Service revenue....................................................... $ 16,306 $ 8,682 $ 358
Professional contract revenue......................................... 500 3,085 --
Other revenue......................................................... 2,621 3,467 --
--------- --------- --------
Total revenue..................................................... 19,427 15,234 358
--------- --------- --------
Cost of revenues......................................................... 7,954 23,691 2,430
--------- --------- --------
Gross profit............................................................. 11,473 (8,457) (2,072)
Expenses:
Research and development.............................................. 12,578 33,051 7,363
Sales and marketing................................................... 9,684 72,966 35,208
General and administrative............................................ 33,036 102,191 14,333
Impairment of goodwill................................................ 163,634 -- --
Provision for loss on loan to former officer.......................... -- 3,346 --
Restructuring and writedown charges................................... 25,974 11,475 --
--------- --------- --------
Total expenses.................................................... 244,906 223,029 56,904
--------- --------- --------
Loss from operations..................................................... (233,433) (231,486) (58,976)
Other income (expense):
Interest expense...................................................... (39) (766) (173)
Interest income....................................................... 10,101 19,202 2,662
Gain from shut down of EncrypTix...................................... 23,195 -- --
Loss from sale of iShip............................................... (9,397) -- --
Other income.......................................................... -- 101 --
--------- --------- --------
Net loss.......................................................... $(209,573) $(212,949) $(56,487)
========= ========= ========
Basic and diluted net loss per share.............................. $ (4.14) $ (4.54) $ (2.59)
========= ========= ========
Weighted average shares outstanding used in basic and diluted
per-share calculation........................................... 50,645 46,888 21,824
========= ========= ========
See accompanying notes.
F-3
2002. EDGAR Online, Inc.