Overstock.com 2007 Annual Report Download - page 71

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Discontinued operations:
Loss from discontinued operations (779) (1,128) (708) (4,267) (3,624) (300) — —
Net loss (15,910) (15,739) (24,503) (45,614) (21,383) (13,768) (4,704) (5,160)
Deemed dividend related to redeemable common stock (33) (33) (33) — — — — —
Net loss attributable to common shares $ (15,943)$ (15,772)$ (24,536)$ (45,614)$ (21,383)$ (13,768)$ (4,704)$ (5,160)
Net loss per common share—basic and diluted
Loss from continuing operations $ (0.78)$ (0.73)$ (1.16)$ (1.95)$ (0.75)$ (0.57)$ (0.20)$ (0.22)
Loss from discontinued operations $ (0.04)$ (0.05)$ (0.03)$ (0.20)$ (0.16)$ (0.01)$ — $ —
Net loss per share—basic and diluted $ (0.82)$ (0.78)$ (1.19)$ (2.15)$ (0.91)$ (0.58)$ (0.20)$ (0.22)
Weighted average common shares outstanding—basic and diluted 19,385 20,159 20,600 21,163 23,594 23,689 23,726 23,807
Three Months Ended
Mar. 31, 2006 June 30, 2006 Sept. 30, 2006 Dec. 31, 2006 Mar. 31, 2007 June 30, 2007 Sept. 30, 2007 Dec. 31, 2007
Additional Operating Data(1):
Gross bookings (in thousands)(2) $ 200,900 $ 172,091 $ 170,590 $ 319,621 $ 170,362 $ 165,683 $ 177,226 $ 336,942
Number of orders(3) 1,856,000 1,568,000 1,529,000 3,061,000 1,481,000 1,288,000 1,457,000 2,973,000
Number of new B2C customers(4) 638,000 520,000 540,000 1,157,000 473,000 394,000 486,000 1,104,000
Average customer acquisition cost(5) $ 19.49 $ 22.98 $ 31.22 $ 25.56 $ 24.58 $ 20.20 $ 18.17 $ 24.98
The additional operating data sets forth certain operating data relating to our business for the eight most recent quarters for the period ended December 31, 2007. While we believe that
the information in the table above facilitates an understanding of our business and results of operations for the periods presented, such information is not in accordance with generally
accepted accounting principles and should be read in conjunction with the quarterly results of operations data set forth above.
Gross bookings exclude bookings related to the auctions and cars businesses (shopping business only). We believe that gross bookings is a metric widely used in our industry and by
making this metric available to investors, we believe investors are able to compare our performance against others in our industry.
Number of orders represents the number of individual orders for merchandise through our Website excluding B2B orders.
Number of new B2C customers represents the number of valid new customer accounts. To establish a valid customer account, a person must provide us with the following information
and purchase merchandise on our B2C Website: a unique e-mail address; a unique password; and a verified credit card account number.
Average customer acquisition cost represents total shopping sales and marketing expense divided by the number of new shopping customers for the period presented (excluding both
new customers and marketing costs for the auctions business). We believe that investors may use the average customer acquisition cost metric to determine how efficiently we are able
to acquire new customers.
Includes the correction of an error requiring a change in revenue recognition from ship date to estimated delivery date. This correction resulted in a deferral of $13.7 million of revenue
(including $3.7 million of direct revenue and $10.0 million of fulfillment partner revenue), and a decrease in cost of goods sold of $11.6 million ($3.1 million direct and $8.5 million
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