Stamps.com 2005 Annual Report Download - page 44
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STAMPS.COM INC.
STATEMENTS OF OPERATIONS
(in thousands, except per share data)
The accompanying notes are an integral part of these financial statements.
F-3
Year Ended December 31,
2005
2004
2003
Revenues:
Service
$
42,391
$
27,936
$
17,565
PhotoStamps, net
8,901
2,327
—
Product and other, net
10,619
7,849
3,635
Total revenues
61,911
38,112
21,200
Cost of revenues:
Service
9,193
9,536
7,151
PhotoStamps
5,483
1,481
—
Product and other
2,758
2,290
1,113
Total cost of revenues
17,434
13,307
8,264
Gross profit
44,477
24,805
12,936
Operating expenses:
Sales and marketing
19,804
12,586
6,298
Research and development
6,596
6,221
4,820
General and administrative
9,633
12,985
14,459
Total operating expenses
36,033
31,792
25,577
Income (loss) from operations
8,444
(6,987
)
(12,641
)
Other income (loss):
Other income
64
1,360
—
Interest income
2,167
1,881
3,314
Loss on disposal of assets —
(
987
) —
Total other income, net
2,231
2,254
3,314
Income (loss) before income taxes
10,675
(4,733
)
(9,327
)
Provision for income taxes
246
—
—
Net income (loss)
$
10,429
$
(4,733
)
$
(9,327
)
Net income (loss) per share:
Basic
$
0.46
$
(0.21
)
$
(0.42
)
Diluted
$
0.44
$
(0.21
)
$
(0.42
)
Weighted average shares outstanding
Basic
22,738
22,361
22,056
Diluted
23,744
22,361
22,056