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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.
76
Year Ended December 31,
2009
2010
2011
(in thousands, except per share data)
Revenues
723,729
622,212
$
1,314,104
Operating costs and expenses:
Cost of revenues (exclusive of depreciation and
amortization shown separately below)
265,668
234,633
590,486
Selling, general and administrative (exclusive of
depreciation and amortization shown separately below)
222,181
178,417
406,358
Depreciation and amortization
23,962
23,390
160,083
Impairment of goodwill and intangible assets
24,145
1,711
—
Restructuring and acquisition
-
related costs
5,615
22,368
32,068
Total operating costs and expenses
541,571
460,519
1,188,995
Income from operations
182,158
161,693
125,109
Interest expense and other, net
(21,125
)
(23,409
)
(70,640
)
Income before income taxes
161,033
138,284
54,469
Income tax benefit (provision)
126,085
(56,804
)
(19,902
)
Net income
287,118
81,480
$
34,567
Net income per share
Basic
2.69
0.75
$
0.32
Diluted
2.66
0.74
$
0.32
Weighted average common shares outstanding
Basic
106,909
108,057
108,098
Diluted
108,084
109,468
108,949
Dividends declared per common share
0.28
0.62
$
0.20