Juno 2013 Annual Report Download - page 15

Table of Contents
following the distribution, and changes in market perception of the prospects of the Company and FTD as a consequence of the distribution. We are a
substantially smaller company than we were prior to the completion of the FTD Spin-Off Transaction, and we cannot predict the prices at which our
common stock may trade in the future.
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Current or future economic conditions may have a material and adverse impact on our business, financial condition, results of operations, and
cash flows.
Our services and products are discretionary and dependent upon levels of consumer spending. Consumer spending patterns are difficult to predict
and are sensitive to, among other factors, the general economic climate, the consumers' levels of disposable income, consumer debt, and overall
consumer confidence. Challenging economic conditions have adversely impacted certain aspects of our businesses in a number of ways, including
reduced demand, more aggressive pricing for similar services and products by our competitors, decreased spending by advertisers, increased credit
risks, increased credit card failures, a loss of customers, and increased use of discounted pricing for certain of our services and products. Challenging
economic conditions may adversely impact our key vendors and customers. Such economic conditions and decreased consumer spending have, in
certain cases, resulted in, and may in the future result in, a variety of negative effects such as a reduction in revenues, increased costs, lower gross
margin and operating margin percentages, increased allowances for doubtful accounts and write-offs of accounts receivable, increased provisions for
excess and obsolete inventories, and recognition of impairments of assets, including goodwill and other intangible and long-lived assets. Any of the
above factors could have a material adverse effect on our business, financial condition, results of operations, and cash flows.
Our business is subject to fluctuations.
Our results of operations and changes in our key business metrics from period to period have varied in the past and may fluctuate significantly in
the future due to a variety of factors, many of which are outside of our control and difficult to predict. Each of the risk factors discussed in this Item 1A
and the other factors described elsewhere in this Annual Report on Form 10-K and in our other filings with the SEC may affect us from period to period
and may affect our long-term performance. As a result, you should not rely on period-to-period comparisons as an indication of our future performance.
In addition, these factors and the challenging economic conditions create difficulties with respect to our ability to forecast our financial performance and
business metrics accurately. We believe that these difficulties in forecasting present even greater challenges for financial analysts who publish their own
estimates of our future financial results and business metrics. We cannot assure you that we will achieve the expectations of, or projections made by, our
management or the financial analysts. In the event we do not achieve such expectations or projections, our financial results and the price of our common
stock could be adversely affected.
New business initiatives, services, products, features, applications, or functionality may not be successful, which could adversely impact our
business, financial condition, results of operations, and cash flows.
We have expended, and may continue to expend, significant resources in developing, integrating and implementing new business initiatives,
services, products, features, applications, and functionality. Such development, integration and implementation involve a number of uncertainties,
including unanticipated delays and expenses and technological problems. New business initiatives, services, products, features, applications, or
functionality also may not be accepted by consumers or commercially successful. We cannot assure you that we will be successful in such development,
integration and implementation efforts, or that any new business initiatives, services, products, features, applications, or functionality will be accepted by
consumers or commercially successful. If our
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