TeleNav 2011 Annual Report Download - page 50

Table of Contents
The following selected financial data should be read in conjunction with the consolidated financial statements and related notes thereto
appearing elsewhere in this Form 10-K. We have derived the statement of income data for fiscal years ended June 30, 2011, 2010 and 2009 and
the balance sheet data as of June 30, 2011 and 2010 from the audited consolidated financial statements included elsewhere in this Form 10-K.
The statement of income data for the fiscal years ended June 30, 2008 and 2007 and the balance sheet data as of June 30, 2009, 2008 and 2007
were derived from the audited consolidated financial statements that are not included in this Form 10-K. The consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP. We have not declared or
distributed any cash dividends on our common stock. Historical results are not necessarily indicative of results to be expected for future periods.
46
ITEM 6.
SELECTED FINANCIAL DATA
Consolidated Statements of Income Data:
(in thousands, except per share data)
Fiscal Year Ended June 30,
2011 2010 2009 2008 2007
Revenue
$
210,491
$
171,162
$
110,880
$
48,065
$
27,716
Cost of revenue
40,720
29,481
20,250
11,359
7,965
Gross profit
169,771
141,681
90,630
36,706
19,751
Operating expenses:
Research and development(1)
56,534
41,556
23,500
13,687
10,923
Sales and marketing
24,886
17,197
16,536
13,245
14,506
General and administrative(2)
19,757
14,518
8,302
4,993
4,677
Total operating expenses
101,177
73,271
48,338
31,925
30,106
Income (loss) from operations
68,594
68,410
42,292
4,781
(10,355
)
Other income (expense), net
1,173
(407
)
(776
)
10
710
Income (loss) before provision for income taxes
69,767
68,003
41,516
4,791
(9,645
)
Provision for income taxes
27,193
26,593
11,898
184
1
Net income (loss)
$
42,574
$
41,410
$
29,618
$
4,607
$
(9,646
)
Net income (loss) applicable to common stockholders
$
42,574
$
25,560
$
15,719
$
1,875
$
(10,852
)
Net income (loss) per share applicable to common stockholders:
Basic
$
1.01
$
1.64
$
1.39
$
0.17
$
(1.00
)
Diluted
$
0.94
$
0.83
$
0.57
$
0.07
$
(1.00
)
Weighted average shares used in computing net income (loss) per share
applicable to common stockholders:
Basic
41,975
15,569
11,273
11,173
10,840
Diluted
45,086
30,833
27,724
26,872
10,840
(1)
Fiscal 2010 includes $1.5 million of stock compensation expense associated with certain stock option grants that vested upon the closing of
our IPO.
(2) Fiscal 2010 includes $1.3 million of stock compensation expense associated with a stock option grant that vested upon the closing of our
IPO.
Consolidated Balance Sheets Data:
(in thousands)
June 30,
2011 2010 2009 2008 2007
Cash, cash equivalents and short-term investments
$
203,310
$
112,862
$
33,128
$
16,850
$
18,733
Working capital
178,602
134,878
44,899
22,676
17,599
Total assets
260,627
173,720
72,210
36,029
26,582
Preferred stock warrant liability
—
—
2,511
1,668
1,016
Convertible preferred stock
—
—
51,368
50,160
47,196
Common stock and additional paid
-
in capital
115,106
109,729
3,501
2,926
2,543
Total stockholders
’
equity (deficit)
188,466
149,037
3,376
(25,765
)
(27,877
)