Overstock.com 2013 Annual Report Download - page 33

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Table of Contents

The selected consolidated financial data presented below should be read in conjunction with the consolidated financial statements of
Overstock.com, Inc. and subsidiaries and related footnotes included elsewhere in this Annual Report on Form 10-K and the discussion under
Item 7—"Management's Discussion and Analysis of Financial Condition and Results of Operations." The selected consolidated financial data has been
derived from our audited consolidated financial statements included elsewhere in this Form 10-K. The historical financial and operating information may not
be indicative of our future performance.








Revenue, net
Direct
$156,032
$155,516
$163,609
$209,646
$150,901
Fulfillment partner
1,148,185
943,773
890,668
880,227
725,868
Total net revenue
1,304,217
1,099,289
1,054,277
1,089,873
876,769
Cost of goods sold
Direct
136,282
140,536
149,660
187,124
130,890
Fulfillment partner
920,275
760,323
725,529
713,109
581,127
Total cost of goods sold
1,056,557
900,859
875,189
900,233
712,017
Gross profit
247,660
198,430
179,088
189,640
164,752
Operating expenses:
Sales and marketing
91,609
63,467
61,813
61,334
55,549
Technology
71,788
65,467
67,043
58,260
52,336
General and administrative
68,169
57,259
67,766
55,650
48,906
Restructuring (1)
(471)
76
—
(569)
(66)
Total operating expenses
231,095
186,269
196,622
174,675
156,725
Operating income (loss)
16,565
12,161
(17,534)
14,965
8,027
Interest income
127
116
161
157
170
Interest expense
(113)
(809)
(2,485)
(2,962)
(3,470)
Other income (expense), net
(235)
3,686
278
2,088
3,277
Income (loss) before income taxes
16,344
15,154
(19,580)
14,248
8,004
Provision (benefit) for income taxes
(72,165)
485
(142)
359
257
Net income (loss)
$88,509
$14,669
$(19,438)
$13,889
$7,747
Deemed dividend related to redeemable common stock
—
—
(12)
(112)
(48)
Net income (loss) attributable to common shares
$88,509
$14,669
$(19,450)
$13,777
$7,699
Net income (loss) per common share—basic:
Net income (loss) attributable to common share—basic
$3.73
$0.63
$(0.84)
$0.60
$0.34
Weighted average common shares outstanding—basic
23,714
23,387
23,259
23,019
22,821
Net income (loss) per common share—diluted:
Net income (loss) attributable to common shares—diluted
$3.64
$0.62
$(0.84)
$0.59
$0.33
Weighted average common shares outstanding—diluted
24,294
23,672
23,259
23,366
23,067
(1) During the fourth quarter of 2006, we commenced implementation of a facilities consolidation and restructuring program designed to reduce the overall expense
structure in an effort to improve future operating performance (see Item 15 of Part IV, "Financial Statements"-Note 3-"Restructuring Expense").
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