Stamps.com 2008 Annual Report Download - page 39
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(In Thousands, Except Per Share Data)
The accompanying notes are an integral part of these financial statements.
Year Ended December 31,
2008
2007
2006
Revenues:
Service
$
61,556
$
55,903
$
53,827
Product
9,906
9,636
8,696
Insurance
1,574
1,478
1,442
PhotoStamps
11,876
17,887
18,801
Other —
907
1,820
Total revenues
84,912
85,811
84,586
Cost of revenues:
Service
10,365
9,659
9,882
Product
3,520
3,286
2,690
Insurance
498
455
442
PhotoStamps
8,525
11,854
11,618
Other —
52
165
Total cost of revenues
22,908
25,306
24,797
Gross profit
62,004
60,505
59,789
Operating expenses:
Sales and marketing
33,538
33,115
27,793
Research and development
8,425
8,260
8,817
General and administrative
15,581
12,538
11,649
Total operating expenses
57,544
53,913
48,259
Income from operations
4,460
6,592
11,530
Other income:
Interest income
2,892
4,461
5,096
Other
26
—
—
Total other income, net
2,918
4,461
5,096
Income before income taxes
7,378
11,053
16,626
(Benefit) provision for income taxes
(2,786
)
387
164
Net income
$
10,164
$
10,666
$
16,462
Net income per share:
Basic
$
0.53
$
0.51
$
0.71
Diluted
$
0.53
$
0.50
$
0.69
Weighted average shares outstanding:
Basic
19,081
20,815
23,233
Diluted
19,345
21,194
24,032
F-3