Nutrisystem 2015 Annual Report Download - page 28

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ITEM 6. SELECTED FINANCIAL DATA
The selected consolidated financial data presented below has been derived from our Consolidated Financial
Statements for each of the periods indicated. The data set forth below is qualified by reference to and should be
read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of
Operations” and our Consolidated Financial Statements included as Items 7 and 8, respectively, in this Annual
Report.
Selected Consolidated Financial Data
(In thousands, except per share data)
Year Ended December 31,
2015 2014 2013 2012(d) 2011
Statements of Operations Data:
Revenue ................................. $462,609 $403,083 $358,086 $396,878 $401,336
Costs and expenses:
Cost of revenue ....................... 224,581 199,053 184,210(b) 213,095 198,405
Marketing ............................ 124,209 107,706 95,784 111,095 110,922
General and administrative .............. 64,651(a) 59,231 58,227(c) 66,332 60,812
Depreciation and amortization ........... 9,158 7,849 8,896 10,724 12,068
Operating income (loss) .................... 40,010 29,244 10,969 (4,368) 19,129
Other expense ............................ 0 0 0 78 0
Interest expense, net ....................... 169 142 89 2,034 468
Income tax expense (benefit) ................. 13,698 9,791 3,510 (3,675) 6,400
Net income (loss) .......................... $ 26,143 $ 19,311 $ 7,370 $ (2,805) $ 12,261
Basic income (loss) per common share ......... $ 0.90 $ 0.67 $ 0.26 $ (0.10) $ 0.44
Diluted income (loss) per common share ....... $ 0.89 $ 0.66 $ 0.25 $ (0.10) $ 0.43
Weighted average shares outstanding:
Basic ........................... 28,695 28,323 28,013 27,499 27,033
Diluted .......................... 29,175 28,787 28,287 27,499 27,325
Dividends declared per common share ......... $ 0.70 $ 0.70 $ 0.70 $ 0.70 $ 0.70
December 31,
2015 2014 2013 2012 2011
Balance Sheet Data:
Cash, cash equivalents and short term investments $ 15,508 $ 29,247 $ 26,323 $ 19,391 $ 57,607
Working capital ........................... 19,201 24,831 21,772 31,403 76,239
Total assets .............................. 129,893 109,892 102,445 98,406 150,354
Borrowings under credit facility .............. 0 0 0 0 30,000
Non-current liabilities ...................... 2,284 2,710 2,779 3,525 4,734
Stockholders’ equity ....................... 69,928 55,515 52,157 60,109 74,958
(a) On December 17, 2015, we acquired the SBD brand for a cash payment of $15,000. In connection with this
acquisition, we incurred $2,498 in transaction costs which have been charged to expense in 2015.
(b) In 2013, a charge of $5,000 was recorded to settle certain disputes that had arisen with a supplier over a
legacy contract.
(c) In 2013, we recorded $2,357 for severance, including $696 of non-cash expense related to the acceleration
of previously awarded equity-based awards.
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