Stamps.com 2007 Annual Report Download - page 40

Download and view the complete annual report

Please find page 40 of the 2007 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 70

  • 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

The accompanying notes are an integral part of these financial statements.
Unrealized gain on
investments
—
—
—
—
—
432
432
Comprehensive
income
11,098
Stock-based compensation
expense
2,707
2,707
Exercise of stock options
133
—
933
—
—
—
933
Shares issued under the
ESPP
43
—
477
—
—
—
477
Stock repurchase
(2,548
)
—
—
(
33,308
)
—
—
(
33,308
)
Balance at December 31,
2007
19,813
$
47
$
622,781
$
(63,737
)
$
(466,555
)
$
(94
)
$
92,442
F-38
TABLE OF CONTENTS
STAMPS.COM INC.
STATEMENTS OF CASH FLOWS
(In Thousands)
2007
2006
2005
Operating activities:
Net income
$
10,666
$
16,462
$
10,429
Adjustments to reconcile net income to net cash provided by
operating activities:
Depreciation and amortization
3,047
2,937
2,936
Stock-based compensation expense
2,707
2,638
—
Changes in operating assets and liabilities:
Trade accounts receivable
(154
)
(234
)
(597
)
Other accounts receivable
(538
)
(43
)
(458
)
Other current assets
(394
)
(817
)
(577
)
Other assets
53
(1,025
)
298
Deferred revenue
2,020
131
259
Accounts payable and accrued expenses
(524
)
2,369
2,714
Net cash provided by operating activities
16,883
22,418
15,004
Investing activities:
Sale of short-term investments
57,952
34,475
17,241
Purchase of short-term investments
(34,347
)
(36,298
)
(18,477
)
Sale of long-term investments
33,251
31,447
58,006
Purchase of long-term investments
(9,246
)
(40,717
)
(63,828
)
Acquisition of property and equipment
(668
)
(2,429
)
(2,856
)