Incredimail 2012 Annual Report Download - page 7

PART I
ITEM 1. IDENTITY OF DIREC T ORS, SENIOR MANAGEMENT AND ADVISERS
Not applicable.
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE
Not applicable.
ITEM 3. KEY INFORM A TION
A. SELECTED FINANCIAL DATA
The following tables present selected financial data and should be read in conjunction with "Item 5 -
Operating and Financial Review
and Prospects" and our consolidated financial statements and related notes appearing elsewhere in this annual report. We derived the selected
operations data below for the years ended December 31, 2010, 2011 and 2012 and the selected balance sheet data as of December 31, 2011 and
2012 from our audited consolidated financial statements included elsewhere in this report. We derived the selected operations data below for the
years ended December 31, 2008 and 2009 and the selected balance sheet data as of December 31, 2008, 2009 and 2010 from our audited
consolidated financial statements not included in this report. Our consolidated financial statements are prepared and presented in U.S. dollars and
in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP").
Year ended December 31,
Statement of Operations Data: 2008 2009 2010 2011 2012
U.S. dollars in thousands (except share and per share data)
Revenues
Search
$
11,747
$
20,011
$
22,792
$
25,466
$
38,061
Products
9,158
6,717
5,404
7,191
17,574
Other
1,001
467
1,301
2,816
4,588
$
21,906
$
27,195
$
29,497
$
35,473
$
60,223
Cost of revenues
1,795
1,505
1,606
2,840
5,230
Gross profit
20,111
25,690
27,891
32,633
54,993
Operating expenses:
Research and development costs, net
7,589
6,254
6,607
7,453
10,735
Selling and marketing expenses
7,343
4,616
5,244
12,984
29,517
General and administrative expenses
3,806
3,334
4,741
7,649
8,560
Goodwill impairment and other charges
1,153
-
-
-
-
Total operating expenses
19,891
14,204
16,592
28,086
48,812
Operating income
220
11,486
11,299
4,547
6,181
Financial income, net
4,494
72
322
1,293
(
174
)
Income, before taxes on income
4,714
11,558
11,621
5,840
6,007
Taxes on income
289
3,545
3,232
172
2,473
Net income
$
4,425
$
8,013
$
8,389
$
5,668
$
3,534
Net earnings per share:
Basic
$
0.47
$
0.86
$
0.87
$
0.58
$
0.35
Diluted
$
0.46
$
0.84
$
0.85
$
0.57
$
0.34
Weighted average number of shares used in net earnings
(loss) per share:
Basic
9,427,424
9,347,915
9,622,181
9,796,380
10,159,049
Diluted
9,516,477
9,562,721
9,831,628
10,002,171
10,366,808
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