Vistaprint 2012 Annual Report Download - page 85

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81
respectively, as well as production and computer equipment purchases of approximately $7,236, and other
unrecorded purchase commitments of $9,079.
Legal Proceedings
We are not currently party to any material legal proceedings. Although we cannot predict with certainty the
results of litigation and claims to which we may be subject from time to time, we do not expect the resolution of any
of our current matters to have a material adverse impact on our consolidated results of operations, cash flows or
financial position. In all cases, at each reporting period, we evaluate whether or not a potential loss amount or a
potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that
addresses accounting for contingencies. We expense the costs relating to our legal proceedings as those costs are
incurred.
14. Quarterly Financial Data (unaudited)
Year Ended June 30, 2012 First Quarter Second Quarter Third Quarter Fourth Quarter
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 212,360 $ 299,862 $ 257,634 $ 250,413
Cost of revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78,064 99,661 88,808 88,672
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,172 31,697 274 3,851
Net income per share:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.20 $ 0.82 $ 0.01 $ 0.11
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.19 $ 0.84 $ 0.01 $ 0.10
Year Ended June 30, 2011 First Quarter Second Quarter Third Quarter Fourth Quarter
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 170,487 $ 234,064 $ 203,667 $ 208,791
Cost of revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62,833 78,834 70,738 75,401
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,781 34,014 22,917 14,397
Net income per share:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.25 $ 0.78 $ 0.53 $ 0.33
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.24 $ 0.75 $ 0.51 $ 0.32
Basic and diluted net income per share are computed independently for each of the quarters presented.
Therefore, the sum of quarterly basic and diluted per share information may not equal annual basic and diluted net
income per share.
15. Subsequent Event
On July 10, 2012, we closed a capital investment in a Chinese business, which operates under the name
Namex. We paid $12.7 million in cash resulting in a 34.5% indirect equity interest with call options to increase our
ownership incrementally over the coming eight years. This minority interest provides us access to a new market
and an opportunity to drive longer-term growth in China.
Form 10-K