Support.com 2011 Annual Report Download - page 23

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
 
Support.com was founded in 1997 under the name SupportSoft, Inc. as an enterprise software provider focused on technical support
organizations. In 2007 we launched our consumer services business, and in 2008 began reporting two operating segments, Enterprise and Consumer.
In June, 2009 we sold our Enterprise business to Consona Corporation (“Consona”), changed our name to Support.com, Inc. and focused our efforts
purely on the consumer and small business market. As the Company has irrevocably sold the Enterprise business to Consona, the operations and
cash flows of the disposed business have been completely eliminated from the ongoing operations of Support.com. Therefore, our audited
consolidated financial statements, accompanying notes and other information provided in this Form 10-K reflect the Enterprise business as a
discontinued operation for all periods presented in accordance with ASC 360, 
. After reclassifying the Enterprise business to discontinued operations, our continuing operations consist solely of our remaining segment, the
Consumer business, which includes our online support services as well as our consumer software products.
The information set forth below is not necessarily indicative of results of future operations and should be read in conjunction with
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and related
notes included in Items 7 and 8 of Part II of this Report.
 
        
 

Revenue:
Services $ 37,248 $ 32,276 $ 16,770 $ 6,468 $ 994
Software and other 16,591 11,901 725 343 56
Total revenue 53,839 44,177 17,495 6,811 1,050
Cost of revenue:
Cost of services 29,919 26,737 16,620 10,037 4,415
Cost of software and other 1,744 1,358 59 — —
Total cost of revenue 31,663 28,095 16,679 10,307 4,415
Gross profit (loss) 22,176 16,082 816 (3,496) (3,365)
Operating expenses:
Research and development 6,057 5,214 5,795 6,694 5,070
Sales and marketing 21,791 18,091 7,675 9,073 5,087
General and administrative 12,005 10,963 14,119 14,559 13,891
Amortization of intangible assets 866 364 177 112 —
Total operating expenses 40,719 34,632 27,766 30,738 24,048
Loss from operations (18,543) (18,550) (26,950) (34,234) (27,413)
Interest income and other, net 455 540 428 2,506 6,527
Loss from continuing operations, before income taxes (18,088) (18,010) (26,522) (31,728) (20,886)
Income tax provision (benefit) 401 88 (4,941) (18) —
Loss from continuing operations, after income taxes (18,489) (18,098) (21,581) (31,710) (20,886)
Income (loss) from discontinued operations, after income
taxes (151) 31 7,004 12,604 (483)
Net loss $ (18,640) $ (18,067) $ (14,577) $ (19,106) $ (21,369)
Basic earnings per share:
Loss from continuing operations $ (0.39) $ (0.39) $ (0.47) $ (0.69) $ (0.46)
Income (loss) from discontinued operations (0.00) 0.00 0.16 0.28 (0.01)
Basic net loss per share $ (0.39) $ (0.39) $ (0.31) $ (0.41) $ (0.47)
Diluted earnings per share:
Loss from continuing operations $ (0.39) $ (0.39) $ (0.47) $ (0.69) $ (0.46)
Income (loss) from discontinued operations (0.00) 0.00 0.16 0.28 (0.01)
Diluted net loss per share $ (0.39) $ (0.39) $ (0.31) $ (0.41) $ (0.47)
Shares used in computing basic net loss per share 48,288 46,818 46,378 46,098 45,610
Shares used in computing diluted net loss per share 48,288 46,818 46,378 46,098 45,610
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