 |
|
|
 |
|
 |
 |
|
 |
|
 |
|
| |
|
|
|
|
|
|
| Revenue |
$ |
19,747 |
|
$ |
22,956 |
|
$ |
25,296 |
|
| Operating expenses: |
|
|
|
|
|
|
| |
Cost of revenue |
2,814 |
|
3,002 |
|
3,455 |
|
| |
Research and development |
2,970 |
|
3,772 |
|
4,379 |
|
| |
Sales and marketing |
3,238 |
|
4,126 |
|
4,885 |
|
| |
General and administrative |
715 |
|
1,050 |
|
857 |
|
|
| |
|
Total operating expenses |
9,737 |
|
11,950 |
|
13,576 |
|
|
| Operating income |
10,010 |
|
11,006 |
|
11,720 |
|
| Losses on equity investees and other |
(70 |
) |
(57 |
) |
(159 |
) |
| Investment income/(loss) |
1,951 |
|
3,326 |
|
(36 |
) |
|
| Income before income taxes |
11,891 |
|
14,275 |
|
11,525 |
|
| Provision for income taxes |
4,106 |
|
4,854 |
|
3,804 |
|
|
| Income before accounting change |
7,785 |
|
9,421 |
|
7,721 |
|
| Cumulative effect of accounting change (net of income taxes of $185) |
– |
|
– |
|
(375 |
) |
|
| Net income |
$ |
7,785 |
|
$ |
9,421 |
|
$ |
7,346 |
|
|
| |
|
|
|
|
|
|
| Basic earnings per share: |
|
|
|
|
|
|
| |
Before accounting change |
$ |
1.54 |
|
$ |
1.81 |
|
$ |
1.45 |
|
| |
Cumulative effect of accounting change |
– |
|
– |
|
(0.07 |
) |
|
| |
$ |
1.54 |
|
$ |
1.81 |
|
$ |
1.38 |
|
|
| |
|
|
|
|
|
|
| Diluted earnings per share: |
|
|
|
|
|
|
| |
Before accounting change |
$ |
1.42 |
|
$ |
1.70 |
|
$ |
1.38 |
|
| |
Cumulative effect of accounting change |
– |
|
– |
|
(0.06 |
) |
|
| |
$ |
1.42 |
|
$ |
1.70 |
|
$ |
1.32 |
|
|
| |
|
|
|
|
|
|
| Weighted average shares outstanding: |
|
|
|
|
|
|
| |
Basic |
5,028 |
|
5,189 |
|
5,341 |
|
|
| |
Diluted |
5,482 |
|
5,536 |
|
5,574 |
|
|
See accompanying notes.
|
|
|
