Yahoo 1997 Annual Report Download - page 21

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co n s o lid a t e d
of
st a tem e nt s
operations
co n s o lid a t e d
eq u it y
of
st a tem e nt s
sha re h o ld e rs’
Ye ar En ded De ce mbe r 31,
1997 1996 1995
Net revenues $ 67,411,000 $ 19,697,000 $ 1,410,000
Cos t of re venues 9,372,000 3,316,000 198,000
Gross profit 58,039,000 16,381,000 1,212,000
Operating expenses:
Sales and marketing 43,930,000 15,106,000 815,000
Prod u ct d e velopment 11,138,000 5,150,000 303,000
General and administrative 6,472,000 4,878,000 972,000
Other - non-recurring costs 25,095,000 – –
Tot a l op e ra t in g e xp e n s e s 86,635,000 25,134,000 2,090,000
Loss from operations (28,596,000) (8,753,000) (878,000)
Investment income, net 4,982,000 3,928,000 79,000
Min orit y in t e rests in operations
of consolidated subsidiaries 727,000 540,000 –
Net loss $(22,887,000) $ (4,285,000) $ (799,000)
Basic and diluted net loss per share $ (0.53) $ (0.11) $ (0.03)
Shares used in computing basic and diluted
net loss per share 43,583,000 39,256,000 27,307,000
Th e a ccom pan yin g notes a re a n in teg ra l p a rt of t hes e con solid a te d fin ancial s tat eme nts .
Addition al Cum ulativ e
Paid-in Accum ulate d Tran slation
Capital De ficit Adjus tm en t Total
Issua n ce of Com mon St ock in
con nection w ith the formation
of t h e Com p any – $ – 15,579,530 $ 1,000 $ 2,000 $ – $ – $ 3,000
Issua n ce of Se ries A a n d B
Con ve rt ib le Preferre d St ock a t
$0.20 a n d $1.97 p er share ,
re s pect ively 7,738,072 8,000 – – 5,996,000 – – 6,004,000
Issua n ce of Com mon St ock for
employe e s tock p la ns a n d other – – 783,866 – 897,000 – – 897,000
Ne t los s – – – – – (799,000) – (799,000)
Balance a t Dece mber 31, 1995 7,738,072 8,000 16,363,396 1,000 6,895,000 (799,000) – 6,105,000
Issua n ce of Ma ndat orily
Redee m able Con ve rt ible
Serie s C Pre ferre d St ock at
$12.50 p e r s hare 5,100,000 5,000 – – 63,745,000 – –63,750,000
Sale of Com mon St ock, n et of
issua n ce cos ts of $1,192,000 – – 4,485,000 3,000 35,103,000 – –35,106,000
Con ve rs ion of Conve rt ib le Pre fe rre d
Stock t o Com mon St ock (12,838,072) (13,000) 19,257,108 13,000 – – – –
Issua n ce of Com mon St ock,
net of is sua n ce cos t s – –447,997 – 3,418,000 – –3,418,000
Issua n ce of Com mon St ock
purs u ant t o e xercis e of op t ion s – – 744,566 1,000 9,000 – – 10,000
Com pens a tion e xpens e on
op t ion gra nts – – – – 164,000 – –164,000
Ne t los s – – – – –(4,285,000) –(4,285,000)
Fore ign cu rre n cy
tra nslat ion a djust ment – – – – – – (63,000) (63,000)
Balance a t Dece mber 31, 1996 – – 41,298,067 18,000 109,334,000 (5,084,000) (63,000) 104,205,000
Issua n ce of Com mon St ock p urs uan t
to e xe rcis e of w a rra n ts – – 348,159 – – – – –
Issua n ce of Com mon St ock for
acq uisition s a nd inve stm e nts – – 115,246 – 6,400,000 – – 6,400,000
Issua n ce of Com mon St ock p urs uan t
to Visa Grou p Agre emen t – – 699,481 1,000 21,049,000 – – 21,050,000
Issua n ce of Com mon St ock for
employe e s tock p la ns – –2,551,671 1,000 6,408,000 – –6,409,000
Write–up of in vestm e nt in
Ya hoo! J a pan – – – – 1,700,000 – – 1,700,000
Com pens a tion e xpens e on
op t ion gra nts – – – – 1,215,000 – –1,215,000
Ne t los s – – – – –(22,887,000) –(22,887,000)
Fore ign cu rre n cy
tra nslat ion a djust ment – – – – – –(380,000) (380,000)
Balance a t Dece mber 31, 1997 – $ – 45,012,624 $ 20,000 $ 146,106,000 $ (27,971,000) $ (443,000) $ 117,712,000
Th e a ccom pan yin g notes a re a n in teg ra l p a rt of t hes e con solid a te d fin ancial s tat eme nts .
Con v ertible
Pre fe rre d Stock Com m on Stock
Share s Am oun t Share s Am oun t