filings.toolsItem 6. Selected Consolidated Financial and Operating Data
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Item 6. Selected Consolidated Financial and Operating Data
Selected Consolidated Financial and Operating Data
(in thousands, except per share data and other operating data)
The following table provides selected consolidated financial and other operating data for the five years ended December 31, 2013. The consolidated statement of operations data shown below for each of the three years ended December 31, 2011, 2012, and 2013 and the consolidated balance sheet data as of December 31, 2012 and 2013 are derived from audited consolidated financial statements that are included in this report. The consolidated statement of operations data for each of the years ended December 31, 2009 and 2010 and the consolidated balance sheet data as of December 31, 2009, 2010, and 2011 shown below are derived from audited consolidated financial statements for those years that are not included in this report. Information about prior period acquisitions that may affect the comparability of the selected financial information presented below is included in "Item 1. Business."
| Year Ended December 31, | |||||||||||||||||||
| Consolidated Statement of Operations Data: | 2009 | 2010 | 2011 | 2012 | 2013 | ||||||||||||||
| Revenues | $ | 209,659 | $ | 226,260 | $ | 251,738 | $ | 349,936 | $ | 440,943 | |||||||||
| Cost of revenues | 73,714 | 83,599 | 88,167 | 114,866 | 129,185 | ||||||||||||||
| Gross margin | 135,945 | 142,661 | 163,571 | 235,070 | 311,758 | ||||||||||||||
| Operating expenses | 104,110 | 119,886 | 141,800 | 207,630 | 257,604 | ||||||||||||||
| Income from operations | 31,835 | 22,775 | 21,771 | 27,440 | 54,154 | ||||||||||||||
| Interest and other income | 1,253 | 735 | 798 | 526 | 326 | ||||||||||||||
| Interest and other expense | — | — | — | (4,832 | ) | (6,943 | ) | ||||||||||||
| Income before income taxes | 33,088 | 23,510 | 22,569 | 23,134 | 47,537 | ||||||||||||||
| Income tax expense, net | 14,395 | 10,221 | 7,913 | 13,219 | 17,803 | ||||||||||||||
| Net income | $ | 18,693 | $ | 13,289 | $ | 14,656 | $ | 9,915 | $ | 29,734 | |||||||||
| Net income per share — basic | $ | 0.95 | $ | 0.65 | $ | 0.63 | $ | 0.37 | $ | 1.07 | |||||||||
| Net income per share — diluted | $ | 0.94 | $ | 0.64 | $ | 0.62 | $ | 0.37 | $ | 1.05 | |||||||||
| Weighted average shares outstanding — basic | 19,780 | 20,330 | 23,131 | 26,533 | 27,670 | ||||||||||||||
| Weighted average shares outstanding — diluted | 19,925 | 20,707 | 23,527 | 26,949 | 28,212 |
| As of December 31, | |||||||||||||||||||
| Consolidated Balance Sheet Data: | 2009 | 2010 | 2011 | 2012 | 2013 | ||||||||||||||
| Cash, cash equivalents, short-term and long-term investments | $ | 255,698 | $ | 239,316 | $ | 573,379 | $ | 177,726 | $ | 277,943 | |||||||||
| Working capital | 203,660 | 188,279 | 521,401 | 97,925 | 196,913 | ||||||||||||||
| Total assets | 404,579 | 439,648 | 771,035 | 1,165,139 | 1,256,982 | ||||||||||||||
| Total long-term liabilities | 1,826 | 7,252 | 50,076 | 237,158 | 217,567 | ||||||||||||||
| Stockholders’ equity | 359,006 | 381,502 | 659,177 | 826,343 | 927,862 |
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