TeleNav 2010 Annual Report Download - page 78

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TELENAV, INC.
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share amounts)
Fiscal Year Ended June 30,
2010 2009 2008
Revenue ........................................................ $171,162 $110,880 $48,065
Cost of revenue ................................................... 29,481 20,250 11,359
Gross profit .................................................. 141,681 90,630 36,706
Operating expenses:
Research and development ...................................... 41,556 23,500 13,687
Sales and marketing ........................................... 17,197 16,536 13,245
General and administrative ..................................... 14,518 8,302 4,993
Total operating expenses ................................... 73,271 48,338 31,925
Income from operations ............................................ 68,410 42,292 4,781
Interest income ................................................... 114 268 592
Other income (expense), net ......................................... (521) (1,044) (582)
Income before provision for income taxes .............................. 68,003 41,516 4,791
Provision for income taxes .......................................... 26,593 11,898 184
Net income ...................................................... $ 41,410 $ 29,618 $ 4,607
Net income applicable to common stockholders (see Note 2) ............... $ 25,560 $ 15,719 $ 1,875
Net income per share applicable to common stockholders:
Basic ................................................... $ 1.64 $ 1.39 $ 0.17
Diluted ................................................. $ 0.83 $ 0.57 $ 0.07
Weighted average shares used in computing net income applicable to common
stockholders:
Basic ................................................... 15,569 11,273 11,173
Diluted ................................................. 30,833 27,724 26,872
See Notes to Consolidated Financial Statements.
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