Vistaprint 2006 Annual Report Download - page 70

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Table of Contents VISTAPRINT LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Years Ended June 30, 2006, 2005 and 2004
(in thousands, except share and per share data)
income first to preferred shareholders based on dividend rights under the Company’s bye−laws and then to preferred and common shareholders,
pro rata, based on ownership interests. Net losses are not allocated to preferred shareholders. Diluted net income (loss) per share gives effect to
all potentially dilutive securities, including share options using the treasury stock method.
The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except share and per share
amounts):
Year Ended June 30,
2006 2005 2004
Numerator:
Net income (loss) $ 19,235 $ (16,219) $ 3,440
Allocation of net income (loss):
Basic:
Accretion of preferred share dividends 1,281 4,813 2,499
Undistributed net income allocated to preferred shareholders 1,065 — 557
Net income attributable to preferred shareholders 2,346 4,813 3,056
Net income (loss) attributable to common shareholders 16,889 (21,032) 384
Net income (loss) $ 19,235 $ (16,219) $ 3,440
Diluted:
Accretion of preferred share dividends — 4,813 2,499
Undistributed net income allocated to preferred shareholders — — 527
Net income attributable to preferred shareholders — 4,813 3,026
Net income (loss) attributable to common shareholders 19,235 (21,032) 414
Net income (loss) $ 19,235 $ (16,219) $ 3,440
Denominator
Weighted−average common shares outstanding 33,147,287 11,358,575 11,014,842
Weighted−average common shares upon conversion of convertible preferred
shares 5,618,395 — —
Weighted−average common shares issuable upon exercise of outstanding share
options 3,859,007 — 1,524,802
Shares used in computing diluted net income (loss) per common share 42,624,689 11,358,575 12,539,644
Calculation of net income (loss) per share:
Basic:
Net income (loss) attributable to common shareholders $ 16,889 $ (21,032) $ 384
Weighted average common shares outstanding 33,147,287 11,358,575 11,014,842
Net income (loss) per common share $ 0.51 $ (1.85) $ 0.03
Diluted:
Net income (loss) attributable to common shareholders $ 19,235 $ (21,032) $ 414
Shares used in computing diluted net income (loss) per common share 42,624,689 11,358,575 12,536,644
Net income (loss) per common share $ 0.45 $ (1.85) $ 0.03
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