Digital River 2006 Annual Report Download - page 35

Download and view the complete annual report

Please find page 35 of the 2006 Digital River 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 114

  • 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
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114

PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS
AND ISSUER PURCHASES OF EQUITY SECURITIES
Price Range of Common Stock
Our common stock is traded on The NASDAQ Stock Market under the symbol “DRIV.” The following
table sets forth, for the periods indicated, the high and low sale price per share of our common stock on that
market. These over-the-counter market quotations reflect inter-dealer prices, without retail mark-up, markdown
or commission, and may not necessarily represent actual transactions.
High Low
2005
First Quarter .................................................... $41.82 $28.16
Second Quarter .................................................. $33.73 $22.43
Third Quarter ................................................... $41.75 $31.30
Fourth Quarter .................................................. $39.39 $23.64
2006
First Quarter .................................................... $46.08 $29.27
Second Quarter .................................................. $48.00 $37.00
Third Quarter ................................................... $53.21 $37.90
Fourth Quarter .................................................. $60.99 $48.20
Holders
As of February 1, 2007, there were approximately 390 holders of record of our common stock. On
February 1, 2007, the last sale price reported on The NASDAQ Stock Market for our common stock was
$50.14 per share.
Dividend Policy
We have never declared or paid any cash dividends on our capital stock. We intend to retain any future
earnings to support operations and to finance the growth and development of our business and do not
anticipate paying cash dividends for the foreseeable future.
Issuer Purchases of Equity Securities
In April 2005, our Board of Directors authorized a new share repurchase program of up to $50.0 million
of our outstanding shares of common stock. This new program superseded and replaced the $5.0 million share
repurchase program adopted in 2001. Under the new program, the shares may be repurchased in the open
market or in privately negotiated transactions. Repurchases are at our discretion based on ongoing assessments
of the capital needs of the business, the market price of our common stock and general market conditions. No
time limit was set for the completion of the repurchase program.
There were no common stock repurchases in the fourth quarter of 2006.
Securities Authorized for Issuance under Equity Compensation Plans
The information required in the table of Securities Authorized for Issuance under Equity Compensation
Plans is incorporated by reference to our Proxy Statement in connection with our 2007 Annual Meeting to be
filed in accordance with Regulation 14A under the Securities Exchange Act of 1934, as amended.
31