Stamps.com 2006 Annual Report Download - page 43

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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,
2006
2005
2004
Revenues:
Service
$
53,827
$
42,391
$
27,936
PhotoStamps
18,801
8,901
2,327
Product
8,696
7,365
5,548
Other
3,262
3,254
2,301
Total revenues
84,586
61,911
38,112
Cost of revenues:
Service
9,882
9,193
9,536
PhotoStamps
11,618
5,483
1,481
Product
2,690
2,223
1,712
Other
607
535
578
Total cost of revenues
24,797
17,434
13,307
Gross profit
59,789
44,477
24,805
Operating expenses:
Sales and marketing
27,793
19,804
12,586
Research and development
8,817
6,596
6,221
General and administrative
11,649
9,633
12,985
Total operating expenses
48,259
36,033
31,792
Income (loss) from operations
11,530
8,444
(6,987
)
Other income (loss):
Other income
—
64
1,360
Interest income
5,096
2,167
1,881
Loss on disposal of assets
—
—
(
987
)
Total other income, net
5,096
2,231
2,254
Income (loss) before income taxes
16,626
10,675
(4,733
)
Provision for income taxes
164
246
—
Net income (loss)
$
16,462
$
10,429
$
(4,733
)
Net income (loss) per share:
Basic
$
0.71
$
0.46
$
(0.21
)
Diluted
$
0.69
$
0.44
$
(0.21
)
Weighted average shares outstanding :
Basic
23,233
22,738
22,361
Diluted
24,032
23,744
22,361