Vistaprint 2007 Annual Report Download - page 64
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VISTAPRINT LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended June 30,
2007 2006 2005
(in thousands, except share and per share data)
Revenue ............................................. $ 255,933 $ 152,149 $ 90,885
Cost of revenue (1).................................... 89,971 49,858 36,528
Technology and development expense (1)............... 27,176 15,628 10,839
Marketing and selling expense (1) ...................... 87,887 51,174 32,372
General and administrative expense (1) ................. 23,694 16,624 5,813
Loss on contract termination ........................... — — 21,000
Income (loss) from operations .......................... 27,205 18,865 (15,667)
Interest Income ....................................... 4,691 2,903 293
Other expense, net .................................... (45) (494) (371)
Interest expense ...................................... 1,828 1,256 390
Income (loss) from operations before income taxes....... 30,023 20,018 (16,135)
Income tax provision .................................. 2,880 783 84
Net income (loss) ..................................... $ 27,143 $ 19,235 $ (16,219)
Net income (loss) attributable to common shareholders:
Basic ............................................ $ 27,143 $ 16,889 $ (21,032)
Diluted ........................................... $ 27,143 $ 19,235 $ (21,032)
Basic net income (loss) per share....................... $ 0.64 $ 0.51 $ (1.85)
Diluted net income (loss) per share ..................... $ 0.60 $ 0.45 $ (1.85)
Weighted average common shares outstanding—basic . . . 42,445,991 33,147,287 11,358,575
Weighted average common shares
outstanding—diluted ................................ 45,364,257 42,624,689 11,358,575
(1) Share-based compensation is allocated as follows:
Year Ended June 30,
2007 2006 2005
Cost of revenue.................................. $ 427 $ 79 $—
Technology and development expense............. 2,184 596 —
Marketing and selling expense .................... 3,176 159 —
General and administrative expense ............... 2,978 4,016 —
$8,765 $4,850 $—
See accompanying notes.
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