Stamps.com 2011 Annual Report Download - page 13

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On July 22, 2010, our Board of Directors suspended the NOL Protective Measures by approving a waiver from the NOL Protective Measures to
all persons and entities, including companies and investment firms. As a result, as of the date of filing of this Annual Report on Form 10-
K, our
stockholders are now allowed to become “5% shareholders” and existing “5% shareholders”
are allowed to make additional purchases of our
stock each without having to comply with the restrictions contained in the NOL Protective Measures. This waiver may be revoked by our Board
of Directors at any time if the Board deems the revocation necessary to protect against a Section 382 “change of ownership”
that would limit our
ability to utilize future NOLs. For complete details about this waiver from the NOL Protective Measures, please see our Form 8-
K filed on July
28, 2010.
As of February 29, 2012, we had 16,320,263 shares outstanding, and therefore ownership of approximately 815,000 shares or more would
currently constitute a “5% shareholder”.
We strongly urge that any stockholder contemplating becoming a 5% or more shareholder
contact us before doing so.
Employees
As of December 31, 2011, we had approximately 226 employees not including temporary or contract workers. Our employees work in various
departments including customer support, research and development, sales and marketing, information technology and general administration.
None of our employees are represented by a labor union. We believe that we have a good relationship with our employees.
Segments, Geographical and Revenue Information
We operate in a single market segment, “Internet Mailing and Shipping Services”
and therefore have only one reportable segment. All of our
operations, revenue and assets are within the United States. During 2011, 2010 and 2009, we did not recognize revenue from any one customer
that represented 10% or more of revenues. See Item 7. “Management’
s Discussion and Analysis of Financial Condition and Results of
Operations--Results of Operations for years ended December 31, 2011 and 2010,” and “Management’
s Discussion and Analysis of Financial
Condition and Results of Operations--Results of Operations for years ended December 31, 2010 and 2009,”
for the percentage of total revenue
contributed by categories of similar products or services that accounted for 10 percent or more of consolidated revenue. Our product and
insurance revenues are subject to seasonal variations with the fourth and first calendar quarters being typically seasonally stronger and the
second and third calendar quarters being typically seasonally slower. Our service revenue does have some seasonal variation driven by typically
seasonally stronger customer acquisition and usage in the fourth and first calendar quarters and typically seasonally slower customer acquisition
and usage in the second and third calendar quarters. Our PhotoStamps revenue is typically seasonally stronger in the fourth calendar quarter due
to the holidays.
Company Information
We were founded in September 1996 and we were incorporated in Delaware in January 1998 as StampMaster, Inc., changing our name to
Stamps.com Inc. in December 1998. We completed our initial public offering in June 1999. Our common stock is listed on the NASDAQ Stock
Market under the symbol “STMP.”
Our principal executive offices are located at 12959 Coral Tree Place, Los Angeles, California, 90066, and our telephone number is (310) 482-
5800.
Available Information
We make available on our website (www.stamps.com), free of charge, our annual report on Form 10-K, quarterly reports on Form 10-
Q, current
reports on Form 8-
K and all amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act, as soon as
reasonably practicable after such material is electronically filed or furnished to the SEC (information contained on our website is not part of this
Annual Report on Form 10-K). Our Annual Report on Form 10-
K may also be obtained free of charge by written request to Investor Relations,
Stamps.com Inc., 12959 Coral Tree Place Los Angeles, California 90066.
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