TeleNav 2011 Annual Report Download - page 108

Table of Contents
TELENAV, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Revenue by geographic region is based on the billing address of our wireless carrier customers. The following table sets forth revenue and
property and equipment by geographic region (in thousands):
12. Related party transactions
In February 2005, we granted a long-term and noninterest-bearing loan of $200,000 to the general manager of our China operations. The
balance of the loan was $75,000 and $110,000 as of June 30, 2011 and 2010, respectively. The loan is secured by the employee’s personal
residence in China, as well as certain of the employee’s shares of our common stock. The loan is due in February 2012, or upon the employee’s
termination of employment with us. The loan is repayable through a bonus to the employee of approximately $30,000 per year starting in the
2007 calendar year, contingent upon the employee’s continued employment with us.
13. Employee savings and retirement plan
We sponsor a defined contribution plan under Internal Revenue Code Section 401(k), or the 401(k) Plan. Most of our U.S. employees are
eligible to participate following the start of their employment, at the beginning of each calendar month. Employees may contribute up to the
lesser of 100% of their current compensation to the 401(k) Plan or an amount up to a statutorily prescribed annual limit. We pay the direct
expenses of the 401(k) Plan and beginning in July 2006, we began to match employee contributions up to 4% of an employee’s salary.
Contributions made by us are subject to certain vesting provisions. We made matching contributions and recorded expense of $1.3 million, $1.0
million and $720,000 for fiscal 2011, 2010 and 2009, respectively.
14. Quarterly financial data (unaudited)
Summarized quarterly financial information for fiscal 2011 and 2010 is as follows (in thousands):
104
Fiscal Year Ended June 30,
2011
2010
2009
Revenue
United States
$
201,414
$
166,223
$
106,902
International
9,077
4,939
3,978
Total revenue
$
210,491
$
171,162
$
110,880
Property and equipment
United States
$
7,180
$
7,735
$
5,702
International
1,899
1,902
913
Total property and equipment, net
$
9,079
$
9,637
$
6,615
Three Months Ended
Consolidated statements of
income data (in thousands)
Sept. 30,
2009
Dec. 31,
2009
Mar. 31,
2010
June 30,
2010
Sept. 30,
2010
Dec. 31,
2010
Mar. 31,
2011
June 30,
2011
(unaudited)
Revenue
$
36,048
$
40,503
$
45,101
$
49,510
$
51,100
$
48,022
$
57,110
$
54,259
Gross profit
28,981
33,613
37,928
41,159
42,248
39,194
44,371
43,958
Net income
8,121
10,136
12,541
10,612
12,358
10,040
11,165
9,011
Net income per share applicable to common
stockholders:
Basic
$
0.38
$
0.47
$
0.58
$
0.32
$
0.29
$
0.24
$
0.27
$
0.22
Diluted
$
0.15
$
0.19
$
0.23
$
0.24
$
0.27
$
0.22
$
0.25
$
0.20