Do you know that operating earnings for flea-bag are down about 88% and all that "strong" showing is from interest income? I hope bulls will notice that this prostitute has STD before they reach orgasms over this earnings report! -g-
eBAY INC.
CONDENSED CONSOLIDATED STATEMENT OF INCOME
(in thousands, except per share amounts; unaudited)
Three Months Ended Year Ended
December 31, December 31,
1998 1999 1998 1999
Net revenues $30,930 $73,919 $86,129 $224,724
Cost of net revenues 5,950 21,585 16,094 57,588
Gross profit 24,980 52,334 70,035 167,136
Operating expenses:
Sales and marketing 14,659 28,852 35,976 95,956
Product development 1,578 9,295 4,640 23,785
General and administrative 4,800 13,574 15,849 43,055
Amortization of acquired
intangibles 328 162 805 1,145
Merger related costs -- -- -- 4,359
Total operating expenses 21,365 51,883 57,270 168,300
Income (loss) from operations 3,615 451 12,765 (1,164)
Interest and other income
(expense), net (110) 7,988 (703) 21,377
Income before income taxes 3,505 8,439 12,062 20,213
Provision for income taxes (866) (3,544) (4,789) (9,385)
Net income $2,639 $4,895 $7,273 $10,828
Net income per share:
Basic $0.03 $0.04 $0.14 $0.10
Diluted $0.02 $0.04 $0.06 $0.08
Weighted average shares:
Basic 90,906 115,301 52,064 108,235
Diluted 131,610 137,645 116,759 135,910
Supplemental (A)
Historical net income $2,639 $4,895 $7,273 $10,828
Add back certain non-cash
and merger costs:
Amortization of stock-based
compensation 773 1,029 3,090 4,681
Amortization of acquired
intangibles (B) 515 181 1,180 1,391
Merger related costs (C) -- -- -- 2,528
Charitable contribution
of Common Stock -- -- 1,216 --
Total add back 1,288 1,210 5,486 8,600
Supplemental net income
excluding certain non-cash
and merger related costs $3,927 $6,105 $12,759 $19,428
Supplemental net income
per share:
Basic $0.04 $0.05 $0.25 $0.18
Diluted $0.03 $0.04 $0.11 $0.14
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