Vistaprint 2006 Annual Report Download - page 41

Table of Contents
The following selected consolidated financial data should be read in conjunction with our consolidated financial statements, the related
notes and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Annual
Report on Form 10−K. See the notes to the consolidated financial statements for an explanation of the method used to determine the number of
shares used in computing basic and diluted net loss/income per common share. The historical results are not necessarily indicative of the results
to be expected for any future period.
Year Ended June 30,
2006 2005 2004 2003 2002
(In thousands, except share and per share data)
Consolidated Statements of Operations Data:
Revenue $ 152,149 $ 90,885 $ 58,784 $ 35,431 $ 16,851
Cost of revenue 49,858 36,528 23,837 15,024 7,804
Technology and development expense 15,628 10,839 8,515 4,897 2,209
Marketing and selling expense 51,174 32,372 19,138 11,901 5,355
General and administrative expense 16,624 5,813 3,968 2,485 1,392
Loss on contract termination — 21,000 — — —
Income (loss) from operations 18,865 (15,667) 3,326 1,124 91
Other income (expenses), net 2,409 (78) 47 96 19
Interest expense 1,256 390 83 — —
Income (loss) from operations before income taxes 20,018 (16,135) 3,290 1,220 110
Income tax provision (benefit) 783 84 (150) 747 —
Net income (loss) $ 19,235 $ (16,219) $ 3,440 $ 473 $ 110
Net income (loss) attributable to common shareholders:
Basic $ 16,889 $ (21,032) $ 384 $ 51 $ (177)
Diluted $ 19,235 $ (21,032) $ 414 $ 52 $ (177)
Basic net income (loss) per share $ 0.51 $ (1.85) $ 0.03 $ 0.00 $ (0.02)
Diluted net income (loss) per share $ 0.45 $ (1.85) $ 0.03 $ 0.00 $ (0.02)
Shares used in computing basic net income (loss) attributable to
common shareholders per share 33,147,287 11,358,575 11,014,842 11,609,068 10,825,388
Shares used in computing diluted net income (loss) attributable to
common shareholders per share 42,624,689 11,358,575 12,539,644 12,182,176 10,825,388
Year Ended June 30,
2006 2005 2004 2003 2002
(In thousands)
Consolidated Statements of Cash Flows Data:
Capital expenditures $ (24,929) $(18,629) $(13,374) $ (1,571) $ (820)
Development of software and website (2,656) (1,908) (3,523) (2,570) (1,178)
Depreciation and amortization 7,786 5,902 4,209 2,103 1,422
Cash flows from operating activities 34,637 (6,671) 9,169 3,993 2,269
Cash flows from investing activities (71,410) (20,537) (18,080) (4,478) (2,197)
Cash flows from financing activities 74,851 33,534 25,802 406 16
As of June 30,
2006 2005 2004 2003 2002
(In thousands)
Consolidated balance sheet data:
Cash and cash equivalents $ 64,653 $ 26,402 $ 20,060 $ 3,149 $ 3,228
Marketable securities 43,474 — — — —
Property, plant and equipment, net 50,311 29,913 14,333 1,891 934
Working capital 90,201 13,670 12,620 (2,427) (227)
Total assets 171,392 65,986 42,007 9,610 6,380
Accrued expenses and deferred revenue 15,640 11,125 6,155 2,877 1,093
Total long−term obligations, less current portion 23,046 15,696 5,816 125 250
Series A redeemable convertible preferred shares — 13,556 13,430 14,557 14,181
Series B redeemable convertible preferred shares — 57,880 30,505 — —
Total shareholders’ equity (deficit) 123,984 (38,069) (17,072) (11,280) (11,861)
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