Vistaprint 2007 Annual Report Download - page 75

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VISTAPRINT LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Years Ended June 30, 2007, 2006 and 2005
(in thousands, except share and per share data)
calculated basic net income per share for the year ended June 30, 2006 using the two-class method
for the first 91 days of the year since both classes of stock were outstanding during the period. The
Company calculated diluted net income per share for the year ended June 30, 2006 using the
if-converted method because this method resulted in a net income per share that was more dilutive
than the two-class method. For the year ended June 30, 2005, the Company calculated basic and
diluted net income per share using the two-class method.
Basic net income (loss) per share is computed by dividing the net income (loss) attributable to
common shareholders by the weighted-average number of common shares outstanding for the fiscal
period.
For the years ended June 30, 2006 and 2005, diluted net income (loss) per share is computed
using the more dilutive of (a) the two-class method or (b) the if-converted method. Under the two-class
method, the Company allocated net 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. Diluted net income (loss) per share for all years presented gives effect to all
potentially dilutive securities, including share options using the treasury stock method. Common share
equivalents of 1,103,614, 109,630 and 0 were excluded from the determination of potentially dilutive
shares for the years ended June 30, 2007, 2006 and 2005, respectively, due to their anti-dilutive effect.
71
Form 10-K