Enom 2013 Annual Report Download - page 42

The consolidated statements of operations data for the years ended December 31, 2013, 2012 and 2011, as well as the consolidated
balance sheet data as of December 31, 2013 and 2012, are derived from our audited consolidated financial statements that are included elsewhere
in this Annual Report on Form 10-K. The consolidated statements of operations data for the years ended December 31, 2010 and 2009, as well
as the consolidated balance sheet data as of December 31, 2011, 2010 and 2009, are derived from audited consolidated financial statements not
included in this Annual Report on Form 10-K. The historical results presented below are not necessarily indicative of financial results to be
achieved in future periods.
The following selected consolidated financial data should be read in conjunction with “Item 7. Management’s Discussion and Analysis of
Financial Condition and Results of Operations”
and our consolidated financial statements and the related notes included elsewhere in this Annual
Report on Form 10-K.
40
Item 6.
Selected Financial Data
Year ended December 31,
2013
(1)
2012
(1)
2011
(1)
2010
2009
Consolidated Statements of Operations:
(In thousands, except per share data)
Total revenue
$
394,598
$
380,578
$
324,866
$
252,936
$
198,452
Operating expenses:
Service costs (exclusive of amortization of
intangible assets)
204,763
181,018
155,830
131,332
114,536
Sales and marketing
46,445
46,501
37,394
24,424
20,044
Product development
44,187
40,708
38,146
26,538
21,657
General and administrative
73,277
63,025
59,451
37,371
28,479
Amortization of intangible assets
44,409
40,676
47,174
33,750
32,152
Total operating expenses
413,081
371,928
337,995
253,415
216,868
Income (loss) from operations
(18,483
)
8,650
(13,129
)
(479
)
(18,416
)
Interest income
21
42
56
25
494
Interest expense
(1,642
)
(622
)
(861
)
(688
)
(1,759
)
Other income (expense), net
(61
)
(111
)
(413
)
(286
)
(19
)
Gain on other assets, net
4,232
-
-
-
-
Income (loss) before income taxes
(15,933
)
7,959
(14,347
)
(1,428
)
(19,700
)
Income tax benefit (expense)
(4,241
)
(1,783
)
(4,177
)
(3,897
)
(2,771
)
Net income (loss)
(20,174
)
6,176
(18,524
)
(5,325
)
(22,471
)
Cumulative preferred stock dividends
(2 )
-
-
(2,477
)
(33,251
)
(30,848
)
Net income (loss) attributable to common stockholders
$
(20,174
)
$
6,176
$
(21,001
)
$
(38,576
)
$
(53,319
)
Net income (loss) per share
–
basic
$
(0.23
)
$
0.07
$
(0.27
)
$
(2.86
)
$
(4.78
)
Net income (loss) per share
–
diluted
$
(0.23
)
$
0.07
$
(0.27
)
$
(2.86
)
$
(4.78
)
Weighted average number of shares
-
basic
( 3 ) (4)
88,534
84,553
78,646
13,508
11,159
Weighted average number of shares
-
diluted
( 3 )( 4 )
88,534
87,237
78,646
13,508
11,159
(1)
The Company completed two business acquisitions during the year ended December 31, 2013, one business acquisition during the year ended December 31, 2012, and four
business acquisitions during the year ended December 31, 2011.
( 2 )
As a result of the initial public offering, all shares of our convertible preferred stock converted into shares of common stock and warrants.
( 3 )
In October 2010, our stockholders approved a 1
-
for
-
2 reverse stock split of our outstanding common stock, and a proportional adjustment to the existing conversion ratios for
each series of preferred stock which was effected in January 2011. Accordingly, all share and per share amounts for all periods presented have been adjusted retrospectively,
where applicable, to reflect this reverse stock split and adjustment of the preferred stock conversion ratio.
(
4
)
Basic income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted average number of common shares
outstanding during the period. For the years ended December 31, 2011, 2010 and 2009, net loss attributable to common stockholders is increased for cumulative preferred stock
dividends earned during these periods. For the periods where we presented losses, all potentially dilutive common shares comprised of stock options, restricted stock units,
warrants and convertible preferred stock are antidilutive. Restricted stock units are considered outstanding common shares and included in the computation of basic earnings
per share as of the date that all necessary conditions of vesting are satisfied. Restricted stock units are excluded from the diluted earnings per share calculation when their
impact is antidilutive. Prior to satisfaction of all conditions of vesting, unvested restricted stock units are considered contingently issuable shares and are excluded from
weighted average common shares outstanding.