Stamps.com 2003 Annual Report Download - page 41
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Table of Contents
STAMPS.COM INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
See accompanying notes.
F-4
Year ended December 31,
2003
2002
2001
(in thousands, except per share data)
Revenues:
Service
$
17,565
$
14,867
$
16,306
Product sales and other revenue
3,635
1,462
3,121
Total revenue
21,200
16,329
19,427
Cost of revenues:
Service
7,151
5,029
6,878
Product sales and other revenue
1,113
299
1,076
Total cost of revenues
8,264
5,328
7,954
Gross profit
12,936
11,001
11,473
Expenses:
Research and development
4,820
4,790
12,578
Sales and marketing
6,298
2,509
9,684
General and administrative
14,459
15,467
33,036
Impairment of goodwill
—
—
163,634
Restructuring and write
-
down charges
—
—
25,974
Total expenses
25,577
22,766
244,906
Loss from operations
(12,641
)
(11,765
)
(233,433
)
Other income (loss):
Interest income, net
3,314
4,893
10,062
Gain from shut down of EncrypTix
—
—
23,195
Loss from sale of iShip
—
—
(
9,397
)
Other income
—
25
—
Net loss
$
(9,327
)
$
(6,847
)
$
(209,573
)
Basic and diluted net loss per share
$
(0.21
)
$
(0.14
)
$
(4.14
)
Weighted average shares outstanding
used in basic and diluted per-share
calculation
44,112
49,291
50,645