Stamps.com 2002 Annual Report Download - page 26

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Table of Contents
ITEM6. SELECTED FINANCIAL DATA
The following selected statement of operations data for the three years ended December 31, 2002 and the balance sheet data as of December
31, 2002 and 2001 are derived from our audited consolidated financial statements and notes thereto, included elsewhere herein. The selected
statement of operations data for the years ended December 31, 1999 and 1998 and the balance sheet data as of December 31, 2000, 1999 and
1998 were derived from our audited financial statements, which are not included in this report. The following data should be read in
conjunction with “Management’ s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial
statements, including the notes thereto, included elsewhere in this report.
Year Ended December 31, Period from January 9, 1998
(Inception) to December31,
1998
2002 2001 2000 1999
(in thousands, except per share data)
Statement of Operations Data:
Revenues $ 16,329 $ 19,427 $ 15,234 $ 358 $ —
Cost of sales 5,328 7,954 23,691 2,430 —
Research and development 4,790 12,578 33,051 7,363 1,532
Sales and marketing 2,509 9,684 72,966 35,208 632
General and administrative 15,467 33,036 102,191 14,333 2,016
Impairment of goodwill — 163,634 — — —
Provision for loss on loan with former officer — — 3,346 — —
Restructuring charges(2) — 25,974 11,475 — —
Loss from operations(1) (11,765 ) (233,433 ) (231,486 ) (58,976 ) (4,180 )
Interest income (expense), net 4,893 10,062 18,436 2,489 (16 )
Other income, net 25 — — — —
Gain from shut down of EncrypTix(3) — 23,195 — — —
Loss from sale of iShip(1) — (9,397 ) — — —
Net loss $ (6,847 ) $ (209,573 ) $ (212,949 ) $ (56,487 ) $ (4,196 )
Basic and diluted net loss per share $ (0.14 ) $ (4.14 ) $ (4.54 ) $ (2.59 ) $ (.85 )
Weighted average shares outstanding used in
basic and diluted per-share calculation
49,291 50,645 46,888 21,824 4,956
As of December 31,
2002 2001 2000 1999 1998
(in thousands)
Balance Sheet Data:
Cash and investments $ 172,714 $ 192,924 $ 247,939 $ 374,746 $ 3,470
Working capital 99,410 185,786 234,645 390,357 1,385
Total assets 188,951 222,586 486,938 410,442 4,425
Line of credit, capital lease obligations and other long-term
liabilities
— 98 9,114 1,951 1,473
Total stockholders’ equity (deficit) 186,336 217,259 422,681 401,598 (3,951 )
(1) See the acquisition, investment in and sale of subsidiary footnote beginning on page F-12.
(2) See restructuring footnote beginning on page F-17.
(3) See change in ownership and shutdown of subsidiary footnote beginning on page F-13.
2003. EDGAR Online, Inc.