Juno 2014 Annual Report Download - page 59
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Table of Contents
For the year ended December 31, 2013, we recorded a provision for income taxes totaling $46.0 million on a pre-tax loss totaling $55.5 million,
compared to a provision for income taxes totaling $0.9 million on a pre-tax loss totaling $11.1 million for the year ended December 31, 2012. The change in
the effective income tax rate was primarily due to the valuation allowance recorded against our domestic deferred tax assets and the tax effect of the goodwill
and intangible asset impairment charges recorded in the year ended December 31, 2013, compared to the year ended December 31, 2012.
Communications Segment Results
The decrease in Communications services revenues was primarily due to a 27% decrease in our average number of dial-up Internet access pay accounts,
partially offset by a 5% increase in ARPU as well as growth in mobile broadband subscribers. The increase in ARPU was due to a higher percentage of mobile
broadband subscribers, which have higher ARPUs, as well as an increase in mobile broadband ARPU for the year ended December 31, 2013, compared to the
year ended December 31, 2012. The decrease in Communications services revenues was partially offset by a $4.4 million increase in Communications
advertising revenues due to higher advertising rates driven by optimization of advertising inventory and stronger market demand and a $0.5 million increase
in Communications products revenues related to the sale of mobile broadband devices and the related shipping and handling fees.
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Provision for income taxes $ 46,011 $ 943
Effective income tax rate (82.9)% (8.5)%
Services $ 68,599 $ 78,089 $ (9,490) (12)%
Products 3,537 3,011 526 17%
Advertising 28,722 24,342 4,380 18%
Total Communications revenues $ 100,858 $ 105,442 $ (4,584) (4)%
ARPU $ 9.37 $ 8.90 $ 0.47 5%
Average number of dial-up Internet access pay accounts 307 418 (111) (27)%
Communications cost of revenues $ 33,865 $ 33,883 $ (18) —%
Communications cost of revenues as a percentage of Communications revenues 33.6% 32.1%