EX-99.1 3 g19474exv99w1.htm EX-99.1 EX-99.1
Exhibit 99.1
 
Selected Financial Data
 
The following selected consolidated financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and with the consolidated financial statements and notes thereto, which are included in Exhibits 99.2 and 99.3.
 
                                         
    Years Ended December 31,(1)  
    2008     2007(2)     2006(3)(4)     2005     2004  
    (In thousands, except per share data)  
 
Consolidated Statement of Operations Data:
                                       
Revenue
  $ 373,542     $ 319,493     $ 239,434     $ 154,560     $ 120,287  
Cost of operations
    135,138       114,000       98,692       63,077       45,123  
Sales and marketing
    106,080       91,035       73,344       49,026       44,976  
General and administrative
    56,635       59,326       50,060       27,937       20,461  
Depreciation and amortization
    27,921       26,785       17,154       10,113       5,094  
Interest income
    10,452       12,378       5,099       1,790       —  
Impairment of auction rate securities
    27,406       —       —       —       —  
Restructuring
    2,910       —       —       —       —  
                                         
Income from continuing operations before income tax provision (benefit)
    27,904       40,725       5,283       6,197       4,633  
Income tax provision (benefit)
    2,211       (17,644 )     3,571       1,367       970  
                                         
Income from continuing operations
    25,693       58,369       1,712       4,830       3,663  
Income from discontinued operations, net of tax
    1,009       7,515       824       1,735       1,754  
                                         
Net income
  $ 26,702     $ 65,884     $ 2,536     $ 6,565     $ 5,417  
                                         
Basic income per common share:
                                       
Income from continuing operations
  $ 0.45     $ 1.02     $ 0.03     $ 0.10     $ 0.08  
Income from discontinued operations
    0.01       0.13       0.02       0.03       0.03  
                                         
Net income
  $ 0.46     $ 1.15     $ 0.05     $ 0.13     $ 0.11  
                                         
Diluted income per common share:
                                       
Income from continuing operations
  $ 0.44     $ 0.98     $ 0.03     $ 0.10     $ 0.08  
Income from discontinued operations
    0.01       0.12       0.01       0.03       0.03  
                                         
Net income
  $ 0.45     $ 1.10     $ 0.04     $ 0.13     $ 0.11  
                                         
Weighted-average shares outstanding used in computing net income per common share:
                                       
Basic
    57,717       57,184       56,145       50,132       48,100  
                                         
Diluted
    58,925       59,743       58,075       50,532       48,100  
                                         
 


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    As of December 31,(1)  
    2008     2007(2)     2006(3)     2005     2004  
    (In thousands)  
 
Consolidated Balance Sheet Data:
                                       
Cash and cash equivalents and investments
  $ 325,222     $ 294,653     $ 54,150     $ 153,777     $ 3,456  
Working capital (excluding assets and liabilities of discontinued operations)
    186,571       290,614       184,966       152,337       9,011  
Total assets
    755,932       720,173       619,965       376,889       146,496  
Other long-term liabilities
    8,334       9,210       7,912       7,010       —  
Stockholders’ equity
    633,718       606,755       496,109       295,955       98,560  
 
 
(1) In March 2009, our Board of Directors decided to divest the Little Blue Book print directory business. Accordingly, this selected consolidated financial data has been reclassified to reflect the historical results of the Little Blue Book print directory business as discontinued operations for all periods presented.
 
(2) As of December 31, 2007, we completed the sale of our medical reference publications business. Accordingly, this selected consolidated financial data has been reclassified to reflect historical results of our medical reference publications business as discontinued operations for this and all prior periods presented.
 
(3) During 2006, we acquired Subimo LLC on December 15, 2006, Medsite Inc. on September 11, 2006, Summex Corporation on June 13, 2006 and eMedicine.com Inc. on January 17, 2006. The results of operations of these acquired companies have been included in our financial statements from the respective acquisition dates.
 
(4) On January 1, 2006, we adopted Statement of Financial Accounting Standards No. 123 “(Revised 2004): Share-Based Payment” that resulted in additional non-cash stock-based compensation expense beginning in 2006. See Results of Operations within Management’s Discussion and Analysis of Financial Condition and Results of Operations, which is included in Exhibit 99.2.

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