Enom 2015 Annual Report Download - page 21

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19
31, 2015. Future significant and sustained declines in our stock price and market capitalization relative to our book value
or our inability to generate sufficient revenue or cash flows from our long-lived media content or the businesses that we
have acquired may result in us having to take additional impairment charges against certain of our intangible assets or
goodwill. If we are required to record additional impairment charges in future periods, it could have a material adverse
effect on our results of operations and financial condition, particularly in the period such charge is taken.
Our operating results may fluctuate on a quarterly and annual basis due to a number of factors, which may make it
difficult to predict our future performance.
Our revenue and operating results could fluctuate significantly from quarter-to-quarter and year-to-year due to a
variety of factors, many of which are outside of our control. Therefore, comparing our operating results on a period-to-
period basis may not be meaningful. In addition to other risk factors discussed in this section, factors that may contribute
to the variability of our quarterly and annual results include:
x lower than anticipated levels of traffic to our owned and operated online properties and to our customers’
online properties;
x seasonality of the revenue associated with our marketplaces, including increased sales activity during the
holiday season;
x spikes in sales of our print-on-demand products due to major social or political events resulting in a short-term
demand for products with related content;
x competitive pricing pressures, including shipping costs and potential discounts offered, associated with the
products sold through our marketplaces;
x disruptions in the supply-chain, production and fulfillment operations associated with the products sold
through our marketplaces;
x the amount and timing of operating costs and capital expenditures related to the maintenance and expansion of
our services, operations and infrastructure, especially one-time costs related to the development or acquisition
of new products and services;
x the level of promotional activity required to drive potential customers to our marketplaces;
x increased costs associated with the acquisition or production of new content;
x changes in Internet advertising purchasing patterns by advertisers and changes in how we sell advertisements;
x realignment costs associated with shifting priorities for our businesses;
x timing of and revenue recognition for certain transactions;
x changes in generally accepted accounting principles;
x our focus on long-term goals over short-term results; and
x weakness or uncertainty in general economic or industry conditions.
It is possible that our operating results may fluctuate and our operating results may be below the expectations of
public market analysts and investors in one or more future quarters due to any of the factors listed above, a combination