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Table of Contents
EARTHLINK, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
The Company has not provided information about geographic segments because substantially all of the Company's revenues, results of
operations and identifiable assets are in the United States.
19. Quarterly Financial Data (Unaudited)
The following table sets forth certain unaudited quarterly consolidated financial data for the eight quarters in the period ended
December 31, 2010. In the opinion of the Company's management, this unaudited information has been prepared on the same basis as the audited
consolidated financial statements and includes all material adjustments (consisting of normal recurring accruals and adjustments) necessary to
present fairly the quarterly unaudited financial information. The operating results for any quarter are not necessarily indicative of results for any
future period.
Three Months Ended
Mar. 31,
2009
June 30,
2009
Sept. 30,
2009
Dec. 31,
2009
Mar. 31,
2010
June 30,
2010
Sept. 30,
2010
Dec. 31,
2010 (1)
(unaudited)
(in thousands, except per share data)
Revenues
$
199,063
$
185,597
$
174,521
$
164,548
$
157,258
$
153,007
$
145,158
$
166,789
Cost of
revenues
(2)
73,675
67,274
64,977
59,742
58,880
56,128
55,025
64,600
Operating
costs and
expenses
(3)
67,915
63,853
57,731
86,404
49,965
46,328
48,143
81,450
Income
from
operations
57,473
54,470
51,813
18,402
48,413
50,551
41,990
20,739
Gain (loss)
on
investments
in
other
companies,
net
259
11
35
(1,626
)
418
154
—
—
Interest
expense
and
other, net
(4,291
)
(5,100
)
(5,067
)
(5,346
)
(5,292
)
(5,483
)
(5,466
)
(7,740
)
Income
before
income
taxes
53,441
49,381
46,781
11,430
43,539
45,222
36,524
12,999
Income tax
(provision)
benefit
(4)
(20,944
)
(17,896
)
(16,914
)
181,839
(16,792
)
(17,182
)
(15,139
)
(7,691
)
Net income
$
32,497
$
31,485
$
29,867
$
193,269
$
26,747
$
28,040
$
21,385
$
5,308
Net income
per share
(5):
Basic
$
0.30
$
0.30
$
0.28
$
1.80
$
0.25
$
0.26
$
0.20
$
0.05
Diluted
$
0.30
$
0.29
$
0.28
$
1.79
$
0.25
$
0.26
$
0.20
$
0.05
Weighted
average
common
shares
outstanding
Basic
108,071
105,908
106,615
107,075
107,623
108,053
108,220
108,320
Diluted
109,168
107,080
107,943
108,178
108,478
108,888
109,473
111,317