Stamps.com 2002 Annual Report Download - page 45

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Table of Contents
STAMPS.COM INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31,
2002 2001 2000
(in thousands, except per share data)
Revenues:
Service revenue $ 14,867 $ 16,306 $ 8,682
Professional contract revenue — 500 3,085
Other revenue 1,462 2,621 3,467
Total revenue 16,329 19,427 15,234
Cost of revenues 5,328 7,954 23,691
Gross profit 11,001 11,473 (8,457 )
Expenses:
Research and development 4,790 12,578 33,051
Sales and marketing 2,509 9,684 72,966
General and administrative 15,467 33,036 102,191
Impairment of goodwill — 163,634 —
Provision for loss on loan to former officer — — 3,346
Restructuring and writedown charges — 25,974 11,475
Total expenses 22,766 244,906 223,029
Loss from operations (11,765 ) (233,433 ) (231,486 )
Other income (expense):
Interest expense (9 ) (39 ) (766 )
Interest income 4,902 10,101 19,202
Gain from shut down of EncrypTix — 23,195 —
Loss from sale of iShip — (9,397 ) —
Other income 25 — 101
Net loss $ (6,847 ) $ (209,573 ) $ (212,949 )
Basic and diluted net loss per share $ (0.14 ) $ (4.14 ) $ (4.54 )
Weighted average shares outstanding used in basic and diluted per-share
calculation
49,291 50,645 46,888
See accompanying notes.
F-4
2003. EDGAR Online, Inc.