Green Dot 2014 Annual Report Download - page 62

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GREEN DOT CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31,
2014 2013 2012
(In thousands, except per share data)
Operating revenues:
Card revenues and other fees $253,155 $227,227 $224,745
Cash transfer revenues 179,289 183,359 165,232
Interchange revenues 178,040 171,757 164,559
Stock-based retailer incentive compensation (8,932)(8,722)(8,251)
Total operating revenues 601,552 573,621 546,285
Operating expenses:
Sales and marketing expenses 235,227 218,370 209,870
Compensation and benefits expenses 123,083 127,287 114,930
Processing expenses 79,053 89,856 77,445
Other general and administrative expenses 105,200 88,976 71,900
Total operating expenses 542,563 524,489 474,145
Operating income 58,989 49,132 72,140
Interest income 4,064 3,440 4,074
Interest expense (1,276)(72)(76)
Other income 7,129 — —
Income before income taxes 68,906 52,500 76,138
Income tax expense 26,213 18,460 28,919
Net income 42,693 34,040 47,219
Income attributable to preferred stock (4,842)(5,360)(7,599)
Net income allocated to common stockholders $37,851 $28,680 $39,620
Basic earnings per common share: $0.92 $0.78 $1.11
Diluted earnings per common share: $0.90 $0.76 $1.07
Basic weighted-average common shares issued and outstanding: 40,907 35,875 34,499
Diluted weighted-average common shares issued and outstanding: 41,770 37,156 35,933
See notes to consolidated financial statements
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