Vistaprint 2007 Annual Report Download - page 83

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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)
6. Accrued Liabilities
Accrued liabilities included the following:
Year Ended June 30,
2007 2006
Accrued advertising costs.................................................... $ 6,417 $ 3,148
Accrued compensation costs................................................. 5,553 3,918
Accrued income taxes ....................................................... 610 1,013
Accrued shipping costs ...................................................... 1,708 542
VAT payable ............................................................... 2,343 1,373
Other ...................................................................... 5,772 3,722
Total accrued liabilities ...................................................... $22,403 $13,716
7. Series A Redeemable Convertible Preferred Shares
On April 26, 2001, the Company issued 8,409,630 shares of Series A Redeemable Convertible
Preferred Shares (the “Series A Shares”) for $1.30 each, for total consideration of $10,933.
On June 12, 2001, the Company issued a further 769,230 shares of Series A Shares for $1.30
each, for total consideration of $1,000.
On July 25, 2001, the Company issued a further 38,000 shares of Series A Shares for $1.30
each, for total consideration of $49.
On January 4, 2002 the Company issued 1,597,777 shares of Series A Shares for $1.30 each, for
total consideration of $2,077.
In connection with the completion of the Company’s initial public offering (“IPO”) described in
Note 9, on September 29, 2005 all outstanding Series A Shares were converted into 9,845,849
common shares.
79
Form 10-K