The financial position of Ziff Davis, Inc. and its subsidiaries as of June 30, 2013 is as follows (in thousands):



	June 30, 2013
ASSETS
Cash and cash equivalents	$	17,635
Accounts receivable	40,230
Prepaid expenses and other current assets	4,637
Deferred income taxes	3,197
Total current assets	65,699
Property and equipment, net	11,691
Trade names, net	51,388
Customer relationships, net	40,998
Goodwill	128,054
Other purchased intangibles, net	2,368
Deferred income taxes	233
Other assets	1,168
Total assets	$	301,599
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable and accrued expenses	$	25,696
Deferred revenue, current	2,211
Total current liabilities	27,907
Note payable	67,500
Interest payable	3,717
Deferred income taxes	30,610
Other long-term liabilities	47
Mandatorily redeemable financial instrument	192,397
Total liabilities	322,178
Commitments and contingencies	—
Common stock	—
Additional paid-in capital	(18,122		)
Retained earnings	(2,552		)
Accumulated other comprehensive income	95
Total stockholders’ equity	(20,579		)
Total liabilities and stockholders’ equity	$	301,599

The results of operations of Ziff Davis, Inc. and its subsidiaries for the three and six months ended June 30, 2013 is as follows (in thousands):



	Three Months Ended June 30,			Six Months Ended June 30,
	2013			2013
Revenues	$	32,778		$	55,685

Cost of revenues	4,692			8,284
Gross profit	28,086			47,401
Operating expenses:
Sales and marketing	18,176			30,964
Research, development and engineering	1,480			3,458
General and administrative	8,943			17,488
Total operating expenses	28,599			51,910
Loss from operations	(513		)	(4,509		)
Interest and other income (expense), net	(2,106		)	(3,524		)
Loss before income taxes	(2,619		)	(8,033		)
Income tax benefit	(1,128		)	(3,460		)
Net loss	$	(1,491	)	$	(4,573	)