Vistaprint 2013 Annual Report Download - page 54
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51
VISTAPRINT N.V.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
Year Ended June 30,
2013 2012 2011
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,167,478 $ 1,020,269 $ 817,009
Cost of revenue (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 400,293 355,205 287,806
Technology and development expense (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . 164,859 129,162 93,626
Marketing and selling expense (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 446,116 375,538 271,838
General and administrative expense (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110,086 105,190 70,659
Income from operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,124 55,174 93,080
Other income (expense), net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (63) 2,350 (2,197)
Interest income (expense), net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,329) (1,679) 239
Income before income taxes and loss in equity interests . . . . . . . . . . . . . . . . 40,732 55,845 91,122
Income tax provision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,387 11,851 9,013
Loss in equity interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,910 — —
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 29,435 $ 43,994 $ 82,109
Basic net income per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.89 $ 1.16 $ 1.89
Diluted net income per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.85 $ 1.13 $ 1.83
Weighted average shares outstanding — basic . . . . . . . . . . . . . . . . . . . . . . . 33,209,172 37,813,504 43,431,326
Weighted average shares outstanding — diluted . . . . . . . . . . . . . . . . . . . . . . 34,472,004 38,953,179 44,951,199
____________________________________________
(1) Share-based compensation is allocated as follows:
Year Ended June 30,
2013 2012 2011
Cost of revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 398 $ 329 $ 686
Technology and development expense. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,209 5,171 4,178
Marketing and selling expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,354 2,692 3,841
General and administrative expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16,967 17,221 12,972
See accompanying notes.
Form 10-K