eFax 2015 Annual Report Download - page 109

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j2 GLOBAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
Year Ended December 31, 2014
(In thousands, except share and per share data)
j2 Global, Inc.
j2 Cloud Services, Inc
Non-guarantor
Subsidiaries
Consolidating
Adjustments
j2 Global Consolidated
Revenues:
Total revenues $ —
$ 227,860
$ 412,217
$ (41,047)
$ 599,030
Cost of revenues —
51,391
95,386
(40,788)
105,989
Gross profit —
176,469
316,831
(259)
493,041
Operating expenses:
Sales and marketing —
36,414
105,812
(259)
141,967
Research, development and
engineering —
14,055
16,625
—
30,680
General and administrative 6,401
30,300
97,487
—
134,188
Total operating expenses 6,401
80,769
219,924
(259)
306,835
Income (loss) from operations (6,401)
95,700
96,907
—
186,206
Equity earnings in Subsidiaries 135,838
77,051
—
(212,889)
—
Interest expense, net 10,442
20,478
284
—
31,204
Other expense (income), net (23)
141
(283)
—
(165)
Income before income taxes 119,018
152,132
96,906
(212,889)
155,167
Income tax expense (benefit) (6,309)
16,294
19,855
—
29,840
Net income 125,327
135,838
77,051
(212,889)
125,327
Less extinguishment of Series A
preferred stock (991)
—
—
—
(991)
Net income attributable to j2 Global,
Inc. common shareholders $ 124,336
$ 135,838
$ 77,051
$ (212,889)
$ 124,336
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