Stamps.com 2015 Annual Report Download - page 91
Download and view the complete annual report
Please find page 91 of the 2015 Stamps.com annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.TABLE OF CONTENTS
STAMPS.COM INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
forsuchproceedings,wedisclosetheestimateoftheamountoflossorpossiblerangeofloss,ordisclosethatanestimateoflosscannot
bemade,asapplicable.Althoughmanagementatpresentbelievesthattheultimateoutcomeoftheseproceedings,individuallyandin
theaggregate,willnotmateriallyharmourfinancialposition,resultsofoperations,cashflows,oroveralltrends,legalproceedingsare
subjecttoinherentuncertainties,andunfavorablerulingsorothereventscouldoccur.Anunfavorableoutcomeforanamountinexcess
ofmanagement’spresentbeliefsmayresultinamaterialadverseimpactonourbusiness,resultsofoperations,financialposition,and
overalltrends.
Commitments
TheCompanyleasesfacilitiespursuanttononcancelableoperatingleaseagreementsexpiringthrough2020.Rentexpenseis
recognizedonastraight-linebasisovertheleaseterm.Leaseincentivesareamortizedovertheleasetermonastraight-linebasis.
Leaseholdimprovementsarecapitalizedandamortizedovertheshorteroftheusefullifeoftheassetortheremainingtermofthelease.
Rentexpensewasapproximately874,000,$215,000,and$36,000fortheyearsendedDecember31,2015,2014and2013,respectively.
Thefollowingtableisascheduleofoursignificantcontractualobligationsandcommercialcommitments(otherthandebt
commitments,whicharesummarizedinNote7-“Debt”),whichconsistoffutureminimumleasepaymentunderoperatingleasesasof
December31,2015(inthousands):
Twelve Month Period Ending December 31,
Operating
Lease
Obligations
2016 $ 2,879
2017 3,126
2018 2,811
2019 619
Thereafter $ 260
13. Subsequent Events
Wearenotawareofanymaterialsubsequenteventsortransactionsthathaveoccurredthatwouldrequirerecognitioninthe
financialstatementsordisclosureinthenotestothefinancialstatements.
14. Quarterly Information (Unaudited)
Quarter Ended
March June September December (2)
(inthousandsexceptpersharedata)
Fiscal Year 2015:
Revenues $ 44,052 $ 48,360 $ 51,669 $ 69,876
Grossprofit 34,427 38,422 40,480 56,693
Income(loss)fromoperations (2,159) (15,152) 12,991 (1,000)
Net(loss)income (970) (10,431) 7,274 (71)
Netincomepershare:
Basic $ (0.06) $ (0.64) $ 0.44 $ (0.00)
Diluted $ (0.06) $ (0.64) $ 0.42 $ (0.00)
Weightedaveragesharesoutstanding:
Basic 16,156 16,402 16,538 16,642
Diluted 16,156(1) 16,402(1) 17,517 16,642(1)
F-32