Stamps.com 2004 Annual Report Download - page 18

Download and view the complete annual report

Please find page 18 of the 2004 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 64

  • 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

16
ITEM 6. SELECTED FINANCIAL DATA
The following data should be read in conjunction with the “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.
Year ended December 31,
2004 2003 2002 2001 2000
(in thousands, except per share data)
Statement of Operations Data:
Revenues........................................................ $ 38,112 $ 21,200 $ 16,329 $ 19,427 $ 15,234
Cost of sales................................................... 13,307 8,264 5,328 7,954 23,691
Research and development ............................ 6,221 4,820 4,790 12,578 33,051
Sales and marketing....................................... 12,586 6,298 2,509 9,684 72,966
General and administrative............................ 12,985 14,459 15,467 33,036 102,191
Impairment of goodwill .................................
—
—
—
163,634
—
Provision for loss on loan with
former officer.............................................
—
—
—
—
3,346
Restructuring charges ....................................
—
—
—
25,974 11,475
Loss from operations ..................................... (6,987) (12,641) (11,765) (233,433) (231,486)
Other income, net .......................................... 2,254 3,314 4,918 10,062 18,436
Gain from shut down of EncrypTix...............
—
—
—
23,195
—
Loss from sale of iShip1.................................
—
—
—
(9,397)
—
Net loss .......................................................... $ (4,733) $ (9,327) $ (6,847) $ (209,573) $ (212,949)
Basic and diluted net loss per share............... $ (0.21) $ (0.42) $ (0.28) $ (8.28) $ (9.08)
Weighted average shares
outstanding used in
basic and diluted per-
share calculation......................................... 22,361 22,056 24,645 25,322 23,444
Year ended December 31,
2004 2003 2002 2001 2000
(in thousands)
Balance Sheet Data:
Cash and investments .................................... $ 87,207 $ 162,774 $ 172,714 $ 192,924 $ 247,939
Working capital ............................................. 26,911 74,553 99,410 185,786 234,645
Total assets .................................................... 100,428 178,264 188,951 222,586 486,938
Line of credit, capital lease obligations
and other long-term liabilities ....................
—
—
—
98 9,114
Total stockholders’ equity (deficit)................ 94,887 174,485 186,336 217,259 422,681