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Item 6. Selected Financial Data
The following selected consolidated financial data should be read in conjunction with our consolidated financial statements, the related Notes contained in this Annual
Report on Form 10-
K and the information contained herein in Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations. Historical results
are not necessarily indicative of future results.
- 30 -
Year Ended December 31,
2014
2013
2012
2011
2010
(In thousands, except for share and per share amounts)
Statement of Income Data:
Revenues
$
599,030
$
520,801
$
371,396
$
330,159
$
255,394
Cost of revenues
105,989
86,893
67,013
60,613
44,086
Gross profit
493,041
433,908
304,383
269,546
211,308
Operating expenses:
Sales and marketing
141,967
131,317
62,825
59,066
46,332
Research, development and engineering
30,680
25,485
18,624
16,373
12,827
General and administrative
134,188
101,683
60,772
58,157
48,226
Total operating expenses
306,835
258,485
142,221
133,596
107,385
Income from operations
186,206
175,423
162,162
135,950
103,923
Interest expense (income), net
31,204
21,254
7,650
(629
)
(2,033
)
Other expense (income), net
(165
)
11,472
(410
)
(537
)
(4,681
)
Income before income taxes
155,167
142,697
154,922
137,116
110,637
Income tax expense
29,840
35,175
33,259
22,350
27,590
Net income
$
125,327
$
107,522
$
121,663
$
114,766
$
83,047
Less net income attributable to noncontrolling interest
—
—
83
—
—
Less extinguishment of Series A preferred stock
(991
)
—
—
—
—
Net income attributable to j2 Global, Inc. common shareholders
$
124,336
$
107,522
$
121,580
$
114,766
$
83,047
Net income per common share:
Basic
$
2.60
$
2.31
$
2.63
$
2.46
$
1.86
Diluted
$
2.58
$
2.28
$
2.61
$
2.43
$
1.81
Weighted average shares outstanding:
Basic
46,778,015
45,548,767
45,459,712
45,799,615
44,578,036
Diluted
47,106,538
46,140,019
45,781,658
46,384,848
45,941,843
Cash dividends declared per common share
$
1.10
$
0.98
$
0.87
$
0.41
$
—
December 31,
2014
2013
2012 2011
2010
(In thousands)
Balance Sheet Data:
Cash and cash equivalents
$
433,663
$
207,801
$
218,680
$
139,359
$
64,752
Working capital
486,816
274,133
298,572
155,099
57,610
Total assets
1,705,202
1,153,789
995,170
651,171
532,623
Other long-term liabilities
22,416
1,458
1,557
2,342
3,302
Total stockholders' equity
820,235
706,418
594,595
554,375
431,745