Stamps.com 2007 Annual Report Download - page 22

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The following data should be read in conjunction with the “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” and our financial statements, including the notes thereto, included elsewhere in this Report.
Year Ended December 31,
2007
2006
2005
2004
2003
(In Thousands, Except per Share Data)
Statement of Operations Data:
Revenues
$
85,811
$
84,586
$
61,911
$
38,112
$
21,200
Cost and expenses:
Cost of sales
25,306
24,797
17,434
13,307
8,264
Research and development
8,260
8,817
6,596
6,221
4,820
Sales and marketing
33,115
27,793
19,804
12,586
6,298
General and administrative
12,538
11,649
9,633
12,985
14,459
Income (loss) from operations
6,592
11,530
8,444
(6,987
)
(12,641
)
Other income, net
4,461
5,096
2,231
2,254
3,314
Provision for income taxes
387
164
246
— —
Net income (loss)
$
10,666
$
16,462
$
10,429
$
(4,733
)
$
(9,327
)
Basic net income (loss) per share
$
0.51
$
0.71
$
0.46
$
(0.21
)
$
(0.42
)
Diluted net income (loss) per
share.
$
0.50
$
0.69
$
0.44
$
(0.21
)
$
(0.42
)
Weighted average shares
outstanding used in basic per share
calculation
20,815
23,233
22,738
22,361
22,056
Weighted average shares
outstanding used in diluted per-share
calculation
21,194
24,032
23,744
22,361
22,056
Cash dividends declared per
common share
$
0.00
$
0.00
$
0.00
$
3.50
$
0.00
As of December 31,
2007
2006
2005
2004
2003
(In Thousands)
Balance Sheet Data:
Cash and investments
$
90,823
$
106,074
$
103,979
$
87,207
$
162,774
Working capital.
60,011
27,724
36,295
26,911
74,553
Total assets..
104,953
121,550
118,454
100,428
178,264
Total stockholders’ equity
92,442
110,535
109,940
94,887
174,485
20
TABLE OF CONTENTS
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
The following discussion and analysis of our financial condition and results of operations should be read in conjunction with
the “Selected Financial Data” and our financial statements and the related notes thereto. This discussion contains forward-
looking statements that involve risks and uncertainties that could cause actual results to differ materially from historical results
or anticipated results including those set forth in the “Risk Factors” section of this report.