|
Condensed Consolidated Statements of Operations and Comprehensive Income (USD $) In Thousands, except Per Share data, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Revenue: |
|
|
| Services |
$ 75,424 |
$ 73,430 |
| Subscriber equipment |
16,540 |
20,157 |
| Engineering and support services |
5,043 |
4,445 |
| Total revenue |
97,007 |
98,032 |
| Operating expenses: |
|
|
| Cost of services (exclusive of depreciation and amortization) |
14,882 |
14,203 |
| Cost of subscriber equipment |
10,647 |
13,912 |
| Research and development |
4,126 |
2,121 |
| Selling, general and administrative |
20,524 |
19,186 |
| Depreciation and amortization |
13,355 |
20,266 |
| Total operating expenses |
63,534 |
69,688 |
| Operating income |
33,473 |
28,344 |
| Other income (expense): |
|
|
| Interest income, net |
1,237 |
637 |
| Undrawn credit facility fees |
(917) |
(1,499) |
| Other expense, net |
(214) |
(350) |
| Total other income (expense) |
106 |
(1,212) |
| Income before income taxes |
33,579 |
27,132 |
| Provision for income taxes |
(12,560) |
(10,589) |
| Net income |
21,019 |
16,543 |
| Net income attributable to common stockholders |
17,160 |
14,793 |
| Weighted average shares outstanding - basic (in shares) |
94,527 |
77,082 |
| Weighted average shares outstanding - diluted (in shares) |
122,313 |
87,711 |
| Net income attributable to common stockholders per share - basic (in dollars per share) |
$ 0.18 |
$ 0.19 |
| Net income attributable to common stockholders per share - diluted (in dollars per share) |
$ 0.17 |
$ 0.19 |
| Comprehensive income: |
|
|
| Net income |
21,019 |
16,543 |
| Foreign currency translation adjustments, net of tax |
(1,401) |
156 |
| Unrealized gain on marketable securities, net of tax |
61 |
60 |
| Comprehensive income |
19,679 |
16,759 |
| Series A Preferred Stock [Member] |
|
|
| Other income (expense): |
|
|
| Dividends, Preferred Stock, Total |
1,750 |
1,750 |
| Series B Preferred Stock [Member] |
|
|
| Other income (expense): |
|
|
| Dividends, Preferred Stock, Total |
$ 2,109 |
$ 0 |