Incredimail 2011 Annual Report Download - page 92
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PERION NETWORK LTD. AND ITS SUBSIDIARIES
(Formerly: Incredimail Ltd.)
CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands (except per share data)
The accompanying notes are an integral part of the consolidated financial statements.
Year ended December 31,
2009
2010
2011
Revenues:
Search
$
20,011
$
22,792
$
25,466
Products
6,717
5,404
7,191
Other
467
1,301
2,816
27,195
29,497
35,473
Cost of revenues
1,505
1,606
2,840
Gross profit
25,690
27,891
32,633
Operating expenses:
Research and development, net
6,254
6,607
7,453
Selling and marketing
4,616
5,244
12,984
General and administrative
3,334
4,741
7,649
Total operating expenses
14,204
16,592
28,086
Operating income
11,486
11,299
4,547
Financial income, net
72
322
1,293
Income before taxes on income
11,558
11,621
5,840
Taxes on income
3,545
3,232
172
Net income
$
8,013
$
8,389
$
5,668
Net earnings per Ordinary share:
Basic
$
0.86
$
0.87
$
0.58
Diluted
$
0.84
$
0.85
$
0.57
F
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