eFax 2009 Annual Report Download - page 25

Download and view the complete annual report

Please find page 25 of the 2009 eFax 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 78

  • 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
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78

Item 6. Selected Financial Data
The following selected consolidated financial data should be read in conjunction with our consolidated financial statements, the related
Notes contained in this Annual Report on Form 10
-K and the information contained herein in Item 7, Management’
s Discussion and Analysis of
Financial Condition and Results of Operations. Historical results are not necessarily indicative of future results. All share numbers and per share
amounts have been retroactively restated to reflect our May 2006 two-for-one stock split effected in the form of a stock dividend.
_______________
Cash Dividends
No cash dividends were paid for the years presented.
Year Ended December 31
,
2009
2008
2007
2006
2005
(In thousands except share and per share amounts)
Statement of Operations Data:
Revenues
$
245,571
$
241,513
$
220,697
$
181,079
$
143,941
Cost of revenues
44,730
46,250
43,987
36,723
29,844
Gross profit
200,841
195,263
176,710
144,356
114,097
Operating expenses:
Sales and marketing
37,006
41,270
38,768
30,792
23,025
Research, development and engineering
11,657
12,031
11,833
8,773
7,134
General and administrative
45,275
44,028
39,683
38,754
23,464
Loss on disposal of long-lived asset
2,442
—
—
—
—
Total operating expenses
96,380
97,329
90,284
78,319
53,623
Operating earnings
104,461
97,934
86,426
66,037
60,474
Other income and expenses:
Gain on sale of investment
—
—
—
—
9,808
Other
-
than
-
temporary impairment losses
(9,343
)
Interest and other income
3,100
4,778
9,272
7,269
3,416
Interest and other expense
(439
)
(559
)
(237
)
(74
)
(76
)
Total other income and expenses
(6,682
)
4,219
9,035
7,195
13,148
Earnings before income taxes
97,779
102,153
95,461
73,232
73,622
Income tax expense
30,952
29,591
27,000
20,101
23,004
Net earnings
$
66,827
$
72,562
$
68,461
$
53,131
$
50,618
Net earnings per common share:
Basic
$
1.52
$
1.63
$
1.40
$
1.08
$
1.05
Diluted
$
1.48
$
1.58
$
1.35
$
1.04
$
0.99
Weighted average shares outstanding:
Basic
43,936,194
44,609,174
48,953,483
49,209,129
48,224,818
Diluted
45,138,001
45,937,506
50,762,007
51,048,995
51,171,794
December 31
,
2009
2008
2007
2006
2005
(In thousands)
Balance Sheet Data:
Cash and cash equivalents
$
197,411
$
150,780
$
154,220
$
95,605
$
36,301
Working capital
227,538
142,123
193,794
165,207
107,938
Total assets
414,001
322,040
350,409
288,160
221,944
Other long
-
term liabilities
2,094
1,022
59
—
149
Total stockholders
’
equity
336,172
249,980
282,614
254,741
202,255
-
22
-