|
CONSOLIDATED STATEMENTS OF INCOME (USD $) In Thousands, except Per Share data, unless otherwise specified
|
12 Months Ended |
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2009
|
| Revenues: |
|
|
|
| Television |
$ 246,780 |
$ 222,894 |
$ 169,637 |
| Online |
77,477 |
18,434 |
13,076 |
| Total revenues |
324,257 |
241,328 |
182,713 |
| Cost of revenues (excluding depreciation and amortization): |
|
|
|
| Television |
80,700 |
65,940 |
61,584 |
| Online |
23,997 |
7,290 |
4,354 |
| Total cost of revenues |
104,697 |
73,230 |
65,938 |
| Operating expenses: |
|
|
|
| Sales and marketing |
31,549 |
13,534 |
12,678 |
| Research and development |
17,818 |
10,601 |
6,257 |
| General and administrative |
48,029 |
32,620 |
25,749 |
| Acquisition and integration |
15,119 |
269 |
|
| Depreciation and amortization |
38,736 |
29,236 |
25,736 |
| Total operating expenses |
151,251 |
86,260 |
70,420 |
| Income from operations |
68,309 |
81,838 |
46,355 |
| Other expense: |
|
|
|
| Interest expense |
14,915 |
7,350 |
11,774 |
| Interest (income) and other expense, net |
637 |
(221) |
99 |
| Income before income taxes |
52,757 |
74,709 |
34,482 |
| Provision for income taxes |
26,220 |
29,407 |
14,558 |
| Income from continuing operations |
26,537 |
45,302 |
19,924 |
| Discontinued operations: |
|
|
|
| Income (loss) from discontinued operations |
(2,053) |
(3,733) |
577 |
| Net income |
$ 24,484 |
$ 41,569 |
$ 20,501 |
| Basic income (loss) per common share: |
|
|
|
| Continuing (in dollars per share) |
$ 0.96 |
$ 1.65 |
$ 0.87 |
| Discontinued (in dollars per share) |
$ (0.07) |
$ (0.13) |
$ 0.03 |
| Total (in dollars per share) |
$ 0.89 |
$ 1.52 |
$ 0.90 |
| Diluted income (loss) per common share: |
|
|
|
| Continuing (in dollars per share) |
$ 0.95 |
$ 1.63 |
$ 0.85 |
| Discontinued (in dollars per share) |
$ (0.07) |
$ (0.13) |
$ 0.03 |
| Total (in dollars per share) |
$ 0.88 |
$ 1.50 |
$ 0.88 |
| Weighted average common shares outstanding: |
|
|
|
| Basic (in shares) |
27,516 |
27,226 |
22,572 |
| Diluted (in shares) |
27,760 |
27,570 |
23,091 |