Shutterfly 2009 Annual Report Download - page 42

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PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
PURCHASES
OF EQUITY SECURITIES.
Shutterfly’s common stock has been traded on the NASDAQ Global Market under the symbol “SFLY” since September 29, 2006.
As of February 20, 2009, there were approximately 114 stockholders of record, excluding stockholders whose shares were held in nominee or
street name by brokers. We have never paid cash dividends on our capital stock. It is our present policy to retain earnings to finance the growth
and development of our business and, therefore, we do not anticipate paying any cash dividends in the foreseeable future.
The following table sets forth the high and low sales price per share for Shutterfly’s common stock for the periods indicated:
Purchases of Equity Securities of the Issuer and Affiliated Purchasers
Neither we nor any affiliated purchaser repurchased any of our equity securities in the fourth quarter of fiscal year 2008.
Use of Proceeds
The S-
1 relating to our initial public offering was declared effective by the SEC on September 28, 2006 (Registration Statement File No.
333-
135426). The net offering proceeds were approximately $78.5 million. Through December 31, 2008, we have used the $78.5 million of
proceeds to purchase capital equipment and for general corporate and operating purposes. In addition, we also used the net proceeds for the
acquisition of, or investment in, companies, technologies, products or assets that complement our business.
Year Ended December 31, 2007
High
Low
First Quarter
$18.53
$13.38
Second Quarter
$22.92
$15.92
Third Quarter
$32.46
$21.80
Fourth Quarter
$36.40
$25.59
Year Ended December 31, 2008
High
Low
First Quarter
$25.70
$14.65
Second Quarter
$17.83
$12.21
Third Quarter
$12.14
$8.59
Fourth Quarter
$9.13
$5.96
40