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Table of Contents
EARTHLINK, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
The accompanying notes are an integral part of these consolidated financial statements.
83
Year Ended December 31,
2008
2009
2010
(in thousands, except per share data)
Revenues
$
955,577
$
723,729
$
622,212
Operating costs and expenses:
Cost of revenues (exclusive of depreciation and amortization
shown separately below)
349,467
265,668
234,633
Selling, general and administrative (exclusive of
depreciation and amortization shown separately below)
317,356
222,181
178,417
Depreciation and amortization
36,333
23,962
23,390
Impairment of goodwill and intangible assets
78,672
24,145
1,711
Restructuring and acquisition
-
related costs
9,142
5,615
22,368
Total operating costs and expenses
790,970
541,571
460,519
Income from operations
164,607
182,158
161,693
Gain (loss) on investments, net
2,708
(1,321
)
572
Interest expense and other, net
(12,409
)
(19,804
)
(23,981
)
Income from continuing operations before income taxes
154,906
161,033
138,284
Income tax benefit (provision)
32,184
126,085
(56,804
)
Income from continuing operations
187,090
287,118
81,480
Loss from discontinued operations, net of tax
(8,506
)
—
—
Net income
$
178,584
$
287,118
$
81,480
Basic net income per share
Continuing operations
$
1.71
$
2.69
$
0.75
Discontinued operations
(0.08
)
—
—
Basic net income per share
$
1.63
$
2.69
$
0.75
Basic weighted average common shares outstanding
109,531
106,909
108,057
Diluted net income per share
Continuing operations
$
1.68
$
2.66
$
0.74
Discontinued operations
(0.08
)
—
—
Diluted net income per share
$
1.61
$
2.66
$
0.74
Diluted weighted average common shares outstanding
111,051
108,084
109,468
Dividends declared per common share
$
—
$
0.28
$
0.62