Earthlink 2008 Annual Report Download - page 29

Table of Contents
Item 6. Selected Financial Data.
The following selected consolidated financial data was derived from our consolidated financial statements. The data should be read in
conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operation" and the consolidated financial
statements and notes thereto included elsewhere in this Annual Report on Form 10-K.
(1)
Year Ended December 31,
2004 2005 2006 2007 2008
(in thousands, except per share amounts)
Statement of operations data:
Revenues
$
1,382,202
$
1,290,072
$
1,301,072
$
1,215,994
$
955,577
Operating costs and expenses(1)(2)
1,271,444
1,125,576
1,205,431
1,167,960
790,970
Income from operations
110,758
164,496
95,641
48,034
164,607
Income (loss) from continuing operations
111,009
142,780
24,986
(54,795
)
198,118
Loss from discontinued operations(3)
—
—
(
19,999
)
(80,302
)
(8,506
)
Net income (loss)
111,009
142,780
4,987
(135,097
)
189,612
Basic net income (loss) per share
Continuing operations
$
0.72
$
1.04
$
0.19
$
(0.45
)
$
1.81
Discontinued operations
—
—
(
0.16
)
(0.66
)
(0.08
)
Basic net income (loss) per share
$
0.72
$
1.04
$
0.04
$
(1.11
)
$
1.73
Diluted net income (loss) per share
Continuing operations
$
0.70
$
1.02
$
0.19
$
(0.45
)
$
1.78
Discontinued operations
—
—
(
0.15
)
(0.66
)
(0.08
)
Diluted net income (loss) per share
$
0.70
$
1.02
$
0.04
$
(1.11
)
$
1.71
Basic weighted average common shares outstanding
154,233
137,080
128,790
121,633
109,531
Diluted weighted average common shares outstanding
157,815
139,950
130,583
121,633
111,051
Cash flow data:
Cash provided by operating activities
$
188,152
$
188,704
$
115,249
88,789
230,612
Cash (used in) provided by investing activities
(69,070
)
(65,081
)
(283,064
)
13,936
107,124
Cash (used in) provided by financing activities
(108,912
)
(169,239
)
152,890
(87,267
)
(24,999
)
As of December 31,
2004
2005
2006
2007
2008
(in thousands)
Balance sheet data:
Cash and cash equivalents
$
218,910
$
173,294
$
158,369
$
173,827
$
486,564
Investments in marketable securities
312,060
248,825
236,407
114,768
47,809
Cash and marketable securities
530,970
422,119
394,776
288,595
534,373
Total assets
805,450
749,149
968,039
734,493
846,893
Long
-
term debt, including long
-
term portion of capital leases
287
1,067
258,984
258,875
258,750
Total liabilities
257,843
227,285
509,375
473,020
398,408
Accumulated deficit
(1,192,762
)
(1,049,982
)
(1,044,995
)
(1,184,119
)
(994,507
)
Stockholders' equity
547,607
521,864
458,664
261,473
448,485
Operating costs and expenses for the year ended December 31, 2008 includes a $78.7 million non
-
cash impairment charge related to
goodwill and certain intangible assets of New Edge in the Company's Business Services segment. EarthLink concluded the carrying value
of these assets were impaired in conjunction with its annual test of goodwill and intangible assets deemed to have indefinite lives as well
as an updating of its long-term outlook.
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