Green Dot 2013 Annual Report Download - page 61
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54
GREEN DOT CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31,
2013 2012 2011
(In thousands, except per share data)
Operating revenues:
Card revenues and other fees $ 227,227 $ 224,745 $ 209,489
Cash transfer revenues 183,359 165,232 134,143
Interchange revenues 171,757 164,559 141,103
Stock-based retailer incentive compensation (8,722) (8,251) (17,337)
Total operating revenues 573,621 546,285 467,398
Operating expenses:
Sales and marketing expenses 218,370 209,870 168,747
Compensation and benefits expenses 127,287 114,930 87,671
Processing expenses 89,856 77,445 70,953
Other general and administrative expenses 88,976 71,900 56,578
Total operating expenses 524,489 474,145 383,949
Operating income 49,132 72,140 83,449
Interest income 3,440 4,074 910
Interest expense (72) (76) (346)
Income before income taxes 52,500 76,138 84,013
Income tax expense 18,460 28,919 31,930
Net income 34,040 47,219 52,083
Income attributable to preferred stock (5,360) (7,599) (558)
Net income allocated to common stockholders $ 28,680 $ 39,620 $ 51,525
Basic earnings per common share:
Class A common stock $ 0.78 $ 1.11 $ 1.24
Class B common stock $ 0.78 $ 1.11 $ 1.24
Basic weighted-average common shares issued and outstanding:
Class A common stock 33,272 29,698 22,238
Class B common stock 2,603 4,801 17,718
Diluted earnings per common share:
Class A common stock $ 0.76 $ 1.07 $ 1.19
Class B common stock $ 0.76 $ 1.07 $ 1.19
Diluted weighted-average common shares issued and outstanding:
Class A common stock 37,156 35,933 42,065
Class B common stock 2,603 6,150 19,822
See notes to consolidated financial statements