QUARTERLY RESULTS OF OPERATIONS (unaudited)

12 Months Ended

Dec. 31, 2012

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, 2012. 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, 2012			June 30, 2012			September 30, 2012			December 31, 2012
	(in thousands, except per share data)
Consolidated Statement of Operations Data:
Revenue, net
Direct	$	40,897		$	33,936		$	34,215		$	46,468
Fulfillment partner		221,470			205,600			221,137			295,566
Total net revenue		262,367			239,536			255,352			342,034
Cost of goods sold
Direct		37,630			31,108			30,684			41,114
Fulfillment partner		177,229			165,259			178,126			239,709
Total cost of goods sold		214,859			196,367			208,810			280,823
Gross profit		47,508			43,169			46,542			61,211
Operating expenses:
Sales and marketing		14,475			13,512			14,899			20,581
Technology		15,638			15,122			16,085			18,622
General and administrative		14,822			14,516			13,828			14,093
Restructuring		98			—			(45	)		23
Total operating expenses		45,033			43,150			44,767			53,319
Operating income		2,475			19			1,775			7,892
Interest income		29			27			30			30
Interest expense		(208	)		(253	)		(194	)		(154	)
Other income (expense), net		432			719			1,213			1,322
Net income before income taxes		2,728			512			2,824			9,090
Provision for income taxes		9			42			131			303
Net income	$	2,719		$	470		$	2,693		$	8,787
Deemed dividend related to redeemable common stock		—			—			—			—
Net income attributable to common shares	$	2,719		$	470		$	2,693		$	8,787
Net income per common share—basic:
Net income per share—basic	$	0.12		$	0.02		$	0.11		$	0.37
Weighted average common shares outstanding—basic		23,392			23,437			23,447			23,450
Net income per common share—diluted:
Net income per share—diluted	$	0.12		$	0.02		$	0.11		$	0.37
Weighted average common shares outstanding—diluted		23,414			23,464			23,754			24,064
Comprehensive income	$	2,719		$	470		$	2,693		$	8,787

	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 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
Comprehensive loss	$	(444	)	$	(7,798	)	$	(7,787	)	$	(3,409	)