Stamps.com 2008 Annual Report Download - page 57

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on the first trading day in January each year, beginning in calendar year 2000, by an amount equal to 1% of the total number
of outstanding shares of our common stock on the last trading day in December in the prior year. In no event will any annual
increase exceed 260,786 shares.
Total shares of common stock issued pursuant to the ESPP during 2008, 2007 and 2006 were approximately 39,000, 43,000
and 56,000, respectively.
Savings Plan
During 1999, we implemented a savings plan for all eligible employees, which qualifies under Section 401(k) of the Internal
Revenue Code. Participating employees may contribute up to 15% of their pretax salary, but not more than statutory limits. We
match 50% of the first 4% a participant contributes. We expensed approximately $209,000, $200,000 and $187,000 in 2008,
2007 and 2006, respectively, related to this plan.
F-21
TABLE OF CONTENTS
STAMPS.COM INC.
NOTES TO FINANCIAL STATEMENTS
12. Legal Proceedings
In addition to the legal proceedings described in Item 3 of our 2008 Annual Report on form 10-K, we are a party to various
other legal actions, claims and proceedings incidental to our business. Litigation is uncertain, and the outcome of individual
cases is not predictable with any assurance. We have established loss provisions only for matters in which losses are probable
and can be reasonably estimated. Some of the matters pending against us involve potential compensatory, punitive or treble
damage claims, or sanctions, that if granted, could require us to pay damages or make other expenditures in amounts that could
have a material adverse effect on our financial position or results of operations. At this time we have not reached a determination
that any of our litigation proceedings are expected to result in liabilities that will have a material adverse effect on our financial
position, cash flows, or results of operations.
13. Quarterly Information (Unaudited)
Quarter Ended
March
June
September
December
(In Thousands Except per Share Data)
Fiscal Year 2008:
Revenues
$
21,072
$
21,410
$
20,156
$
22,274
Gross profit
15,203
15,989
15,108
15,704
Income from operations
694
650
1,791
1,325
Net income
5,198
1,306
2,063
1,597
Net income per share:
Basic
$
0.26
$
0.07
$
0.11
$
0.09
Diluted
$
0.26
$
0.07
$
0.10
$
0.09
Weighted average shares outstanding:
Basic
19,723
19,382
19,410
17,820
Diluted
19,950
19,712
19,726
17,994
Fiscal Year 2007:
Revenues
$
20,022
$
21,407
$
20,284
$
24,098
Gross profit
14,656
14,962
14,565
16,322