Overstock.com 2013 Annual Report Download - page 70

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Table of Contents








Revenue, net
Direct $156,032
$155,516
$163,609
Fulfillment partner 1,148,185
943,773
890,668
Total net revenue 1,304,217
1,099,289
1,054,277
Cost of goods sold
Direct(1) 136,282
140,536
149,660
Fulfillment partner 920,275
760,323
725,529
Total cost of goods sold 1,056,557
900,859
875,189
Gross profit 247,660
198,430
179,088
Operating expenses:
Sales and marketing(1) 91,609
63,467
61,813
Technology(1) 71,788
65,467
67,043
General and administrative(1) 68,169
57,259
67,766
Restructuring (471)
76
—
Total operating expenses 231,095
186,269
196,622
Operating income (loss) 16,565
12,161
(17,534)
Interest income 127
116
161
Interest expense (113)
(809)
(2,485)
Other income (expense), net (235)
3,686
278
Income (loss) before income taxes 16,344
15,154
(19,580)
Provision (benefit) for income taxes (72,165)
485
(142)
Net income (loss) 88,509
14,669
(19,438)
Deemed dividend related to redeemable common stock —
—
(12)
Net income (loss) attributable to common shares $88,509
$14,669
$ (19,450)
Net income (loss) per common share—basic:
Net income (loss) attributable to common shares—basic $3.73
$0.63
$(0.84)
Weighted average common shares outstanding—basic 23,714
23,387
23,259
Net income (loss) per common share—diluted:
Net income (loss) attributable to common shares—diluted $3.64
$ 0.62
$(0.84)
Weighted average common shares outstanding—diluted 24,294
23,672
23,259
Comprehensive income (loss) $88,509
$14,669
$(19,438)
____________________________________________________________
(1) Includes stock-based compensation as follows (Note 17):
Cost of goods sold — direct $ 154
$ 272
$ 193
Sales and marketing 167
318
377
Technology 352
799
628
General and administrative 2,578
2,138
1,853
Total $3,251
$3,527
$ 3,051

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