TeleNav 2010 Annual Report Download - page 87

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TELENAV, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following outstanding shares subject to options, warrants and convertible preferred stock were excluded
from the computation of diluted net income per common share for the periods presented because including them
would have had an antidilutive effect (in thousands):
Fiscal Year Ended June 30,
2010 2009 2008
Options to purchase common stock .................................... 574 296 501
Warrants to purchase common stock ................................... — 21 21
Warrants to purchase Series E convertible preferred stock .................. — 261 261
574 578 783
3. Property and equipment
Property and equipment consist of the following (in thousands):
June 30,
2010 2009
Computers and equipment .................................................... $13,665 $ 8,734
Computer software .......................................................... 1,749 1,342
Furniture and fixtures ........................................................ 620 341
Automobiles ............................................................... 193 165
Leasehold improvements ..................................................... 2,140 1,261
18,367 11,843
Less accumulated depreciation and amortization .................................. (8,730) (5,228)
Property and equipment, net .................................................. $ 9,637 $ 6,615
Depreciation and amortization expense was $4.1 million, $1.9 million and $1.2 million for fiscal 2010, 2009
and 2008, respectively.
4. Commitments and contingencies
Our primary facilities are located in Sunnyvale, California, and Shanghai, Beijing and Xi’an, China, and are
leased under noncancelable operating lease arrangements. Future minimum operating lease payments as of
June 30, 2010 were as follows (in thousands):
2011 .............................................................................. $2,128
2012 .............................................................................. 1,681
2013 .............................................................................. 964
2014 .............................................................................. 963
2015 .............................................................................. 172
Total minimum lease payments ......................................................... $5,908
Rent expense was $2.4 million, $1.7 million and $1.1 million for fiscal 2010, 2009 and 2008, respectively.
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