The financial position of Ziff Davis, Inc. and its subsidiaries as of March 31, 2013 is as follows (in thousands):



	March 31, 2013
ASSETS
Cash and cash equivalents	$	17,140
Accounts receivable	36,424
Prepaid expenses and other current assets	3,548
Deferred income taxes	3,197
Total current assets	60,309
Property and equipment, net	10,153
Trade names, net	50,365
Customer relationships, net	36,871
Goodwill	125,926
Other purchased intangibles, net	2,970
Deferred income taxes	114
Other assets	1,192
Total assets	$	287,900
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses	$	25,418
Deferred revenue	2,884
Total current liabilities	28,302
Note payable	54,000
Interest payable	1,350
Deferred income taxes	30,610
Other long-term liabilities	140
Mandatorily redeemable financial instrument	185,442
Total liabilities	299,844
Commitments and contingencies	—
Common stock	—
Additional paid-in capital	(10,690		)
Retained earnings	(1,327		)
Accumulated other comprehensive income	73
Total stockholders’ equity	(11,944		)
Total liabilities and stockholders’ equity	$	287,900

The results of operations of Ziff Davis, Inc. and its subsidiaries for the three months ended March 31, 2013 is as follows (in thousands):



	Three Months Ended March 31,
	2013
Revenues	$	22,907

Cost of revenues	3,593
Gross profit	19,314
Operating expenses:
Sales and marketing	12,787
Research, development and engineering	1,978
General and administrative	8,545
Total operating expenses	23,310
Loss from operations	(3,996		)
Interest and other income (expense), net	(1,419		)
Loss before income taxes	(5,415		)
Income tax benefit	(2,332		)
Net loss	$	(3,083	)