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General and administrative 4,860 6,128 14,654 15,029
Total operating expenses 14,193 13,846 43,445 40,632
Income (loss) from operations 1,917 (3,092) 9,620 (8,964)
Interest and other income, net 24 945 1,241 2,569
Income (loss) before provision for
taxes 1,941 (2,147) 10,861 (6,395)
Provision for income taxes 349 19 842 37
Net income (loss) $1,592 $(2,166) $10,019 $(6,432)
Basic net income (loss) per share $0.10 $(0.14) $0.63 $(0.42)
Diluted net income (loss) per share $0.10 $(0.14) $0.60 $(0.42)
Basic weighted average number of
shares 15,941 15,466 15,844 15,364
Diluted weighted average number of
shares 16,751 15,466 16,588 15,364
Reconciliation of Income (Loss) from
operations to Adjusted EBITDA:
Income (loss) from operations $1,917 $(3,092) $9,620 $(8,964)
Stock-based compensation 1,309 588 3,560 1,610
Depreciation and amortization 376 326 1,114 890
Adjusted EBITDA $3,602 $(2,178) $14,294 $(6,464)
Calculation of Fully Taxed EPS for
periods with net income:
Income before provision for taxes $1,941 $10,861
Less one time events:
Royalty revenue related to periods
before 2008 - (8,699)
Income before taxes 1,941 2,162
Less taxes at an assumed 38% rate (738) (822)
Fully taxed income $1,203 $1,340
Divided by diluted weighted average
number of shares
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