QUARTERLY RESULTS OF OPERATIONS (unaudited)

12 Months Ended

Dec. 31, 2011

QUARTERLY RESULTS OF OPERATIONS (unaudited)

QUARTERLY RESULTS OF OPERATIONS (unaudited)

23. QUARTERLY RESULTS OF OPERATIONS (unaudited)

        The following tables set forth our unaudited quarterly results of operations data for the eight most recent quarters for the period ended December 31, 2011. We have prepared this information on the same basis as the consolidated statements of operations and the information includes all adjustments that we consider necessary for a fair statement of its financial position and operating results for the quarters presented.

	Three Months Ended
	March 31, 2011			June 30, 2011			September 30, 2011			December 31, 2011
	(in thousands, except per share data)
Consolidated Statement of Operations Data:
Revenue, net
Direct	$	48,161		$	33,443		$	34,749		$	47,256
Fulfillment partner		217,309			201,549			204,989			266,821
Total net revenue		265,470			234,992			239,738			314,077
Cost of goods sold
Direct		43,030			30,231			32,472			43,927
Fulfillment partner		172,356			164,991			168,893			219,289
Total cost of goods sold		215,386			195,222			201,365			263,216
Gross profit		50,084			39,770			38,373			50,861
Operating expenses:
Sales and marketing		15,425			13,655			13,822			18,911
Technology		16,660			16,808			17,171			16,404
General and administrative		17,986			16,725			15,321			17,734
Total operating expenses		50,071			47,188			46,314			53,049
Operating income (loss)		13			(7,418	)		(7,941	)		(2,188	)
Interest income		52			46			23			40
Interest expense		(676	)		(630	)		(662	)		(517	)
Other income (expense), net		189			220			553			(684	)
Net loss before income taxes		(422	)		(7,782	)		(8,027	)		(3,349	)
Provision (benefit) for income taxes		22			16			(240	)		60
Net loss	$	(444	)	$	(7,798	)	$	(7,787	)	$	(3,409	)
Deemed dividend related to redeemable common stock		(10	)		(2	)		—			—
Net income (loss) attributable to common shares	$	(454	)	$	(7,800	)	$	(7,787	)	$	(3,409	)
Net loss per common share—basic:
Net loss per share—basic	$	(0.02	)	$	(0.34	)	$	(0.33	)	$	(0.15	)
Weighted average common shares outstanding—basic		23,215			23,265			23,276			23,278
Net loss per common share—diluted:
Net loss per share—diluted	$	(0.02	)	$	(0.34	)	$	(0.33	)	$	(0.15	)
Weighted average common shares outstanding—diluted		23,215			23,265			23,276			23,278

	Three Months Ended
	March 31, 2010			June 30, 2010			September 30, 2010			December 31, 2010
	(in thousands, except per share data)
Consolidated Statement of Operations Data:
Revenue, net
Direct	$	50,568		$	42,382		$	47,508		$	69,188
Fulfillment partner		213,762			188,871			197,912			279,682
Total net revenue		264,330			231,253			245,420			348,870
Cost of goods sold
Direct		43,584			37,434			43,174			62,932
Fulfillment partner		173,475			152,240			160,868			226,526
Total cost of goods sold		217,059			189,674			204,042			289,458
Gross profit		47,271			41,579			41,378			59,412
Operating expenses:
Sales and marketing		14,279			14,179			15,626			17,250
Technology		13,948			14,178			14,186			15,948
General and administrative		14,906			14,503			14,742			11,499
Restructuring		(136	)		—			—			(433	)
Total operating expenses		42,997			42,860			44,554			44,264
Operating income (loss)		4,274			(1,281	)		(3,176	)		15,148
Interest income		16			40			55			46
Interest expense		(802	)		(760	)		(668	)		(732	)
Other income (expense), net		371			652			387			678
Net income (loss) before income taxes		3,859			(1,349	)		(3,402	)		15,140
Provision (benefit) for income taxes		129			(7	)		(44	)		281
Net income (loss)	$	3,730		$	(1,342	)	$	(3,358	)	$	14,859
Deemed dividend related to redeemable common stock		(14	)		(63	)		(23	)		(12	)
Net income (loss) attributable to common shares	$	3,716		$	(1,405	)	$	(3,381	)	$	14,847
Net income (loss) per common share—basic:
Net income (loss) per share—basic	$	0.16		$	(0.06	)	$	(0.15	)	$	0.64
Weighted average common shares outstanding—basic		22,941			23,013			23,060			23,060
Net income (loss) per common share—diluted:
Net income (loss) per share—diluted	$	0.16		$	(0.06	)	$	(0.15	)	$	0.63
Weighted average common shares outstanding—diluted		23,243			23,013			23,060			23,466