Green Dot 2012 Annual Report Download - page 39
Download and view the complete annual report
Please find page 39 of the 2012 Green Dot annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29 -
30 -
31 -
32 -
33 -
34 -
35 -
36 -
37 -
38 -
39 -
40 -
41 -
42 -
43 -
44 -
45 -
46 -
47 -
48 -
49 -
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
 |
 |
29
Year Ended December 31, Five Months
Ended
December 31,
Year Ended July 31,
2012 2011 2010 2009 2008
(In thousands, except per share data)
Consolidated Statement of Operations Data:
Operating revenues:
Card revenues and other fees $ 224,745 $209,489 $ 167,375 $ 50,895 $119,356 $91,233
Cash transfer revenues 165,232 134,143 101,502 30,509 62,396 45,310
Interchange revenues 164,559 141,103 108,380 31,353 53,064 31,583
Stock-based retailer incentive compensation
(2) (8,251) (17,337) (13,369) — — —
Total operating revenues 546,285 467,398 363,888 112,757 234,816 168,126
Operating expenses:
Sales and marketing expenses 209,870 168,747 122,890 31,333 75,786 69,577
Compensation and benefits expenses(3) 114,930 87,671 70,102 26,610 40,096 28,303
Processing expenses 77,445 70,953 56,978 17,480 32,320 21,944
Other general and administrative expenses 71,900 56,578 44,599 14,020 22,944 19,124
Total operating expenses 474,145 383,949 294,569 89,443 171,146 138,948
Operating income 72,140 83,449 69,319 23,314 63,670 29,178
Interest income 4,074 910 365 115 396 665
Interest expense (76) (346)(52) (2) (1) (247)
Income before income taxes 76,138 84,013 69,632 23,427 64,065 29,596
Income tax expense 28,919 31,930 27,400 9,764 26,902 12,261
Net income 47,219 52,083 42,232 13,663 37,163 17,335
Dividends, accretion and allocated earnings of
preferred stock (7,599) (554) (14,659) (9,170) (29,000) (13,650)
Net income allocated to common stockholders $ 39,620 $51,529 $27,573 $4,493 $8,163 $3,685
Basic earnings per common share:
Class A common stock $ 1.11 $1.24 $1.06 $ — $ — $ —
Class B common stock $ 1.11 $1.24 $1.06 $0.37 $0.68 $0.34
Basic weighted-average common shares issued
and outstanding:
Class A common stock 29,698 22,238 2,980 ———
Class B common stock 4,801 17,718 21,589 12,222 12,036 10,757
Diluted earnings per common share:
Class A common stock $ 1.07 $1.19 $0.98 $ — $ — $ —
Class B common stock $ 1.07 $1.19 $0.98 $0.29 $0.52 $0.26
Diluted weighted-average common shares
issued and outstanding:
Class A common stock 35,933 42,065 27,782 ———
Class B common stock 6,150 19,822 24,796 15,425 15,712 14,154