Attached files
Exhibit 99.2
LIMELIGHT NETWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, except per share data)
| December 31, 2010 |
December 31, 2009 |
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| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current Assets: |
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| Cash and cash equivalents |
$ | 56,741 | $ | 89,509 | ||||
| Marketable securities |
12,009 | 64,870 | ||||||
| Accounts receivable, net of reserves of $7,243 and $9,226 at December 31, 2010 and December 31, 2009 |
41,940 | 26,363 | ||||||
| Income taxes receivable |
721 | 617 | ||||||
| Prepaid expenses and other current assets |
9,628 | 9,654 | ||||||
| Total current assets |
121,039 | 191,013 | ||||||
| Property and equipment, net |
54,407 | 35,524 | ||||||
| Marketable securities, less current portion |
1,755 | 12 | ||||||
| Deferred tax asset, non-current |
718 | — | ||||||
| Goodwill |
94,364 | 619 | ||||||
| Other intangible assets, net |
19,406 | 370 | ||||||
| Other assets |
6,951 | 8,132 | ||||||
| Total assets |
$ | 298,640 | $ | 235,670 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current Liabilities: |
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| Accounts payable |
$ | 12,236 | $ | 5,144 | ||||
| Deferred revenue, current portion |
6,877 | 12,199 | ||||||
| Capital lease obligation, current portion |
1,049 | — | ||||||
| Other current liabilities |
21,608 | 14,140 | ||||||
| Total current liabilities |
41,770 | 31,483 | ||||||
| Deferred revenue, less current portion |
— | 1,377 | ||||||
| Capital lease obligation, less current portion |
1,750 | — | ||||||
| Deferred income tax, less current portion |
598 | 10 | ||||||
| Other long term liabilities |
21 | — | ||||||
| Total liabilities |
44,139 | 32,870 | ||||||
| Commitments and contingencies |
— | — | ||||||
| Stockholders’ equity: |
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| Convertible preferred stock, $0.001 par value; 7,500 shares authorized; 0 shares issued and outstanding |
— | — | ||||||
| Common stock, $0.001 par value; 150,000 shares authorized; 100,068 and 85,011 shares issued and outstanding at December 31, 2010 and December 31, 2009, respectively |
100 | 85 | ||||||
| Additional paid-in capital |
380,338 | 308,537 | ||||||
| Accumulated other comprehensive income |
329 | 93 | ||||||
| Accumulated deficit |
(126,266 | ) | (105,915 | ) | ||||
| Total stockholders’ equity |
254,501 | 202,800 | ||||||
| Total liabilities and stockholders’ equity |
$ | 298,640 | $ | 235,670 | ||||
LIMELIGHT NETWORKS, INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(In thousands, except per share amounts)
| Three Months Ended December 31, 2010 |
Year Ended December 31, 2010 |
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| (Unaudited) | (Unaudited) | |||||||
| Revenue |
$ | 55,243 | $ | 183,327 | ||||
| Cost of revenue: |
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| Cost of services |
23,579 | 80,352 | ||||||
| Depreciation - network |
6,387 | 22,367 | ||||||
| Total cost of revenue |
29,966 | 102,719 | ||||||
| Gross margin |
25,277 | 80,608 | ||||||
| Operating expenses: |
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| General and administrative |
9,666 | 35,760 | ||||||
| Sales and marketing |
13,323 | 46,752 | ||||||
| Research and development |
5,141 | 15,755 | ||||||
| Depreciation and amortization |
1,955 | 6,359 | ||||||
| Provision for litigation |
— | — | ||||||
| Total operating expenses |
30,085 | 104,626 | ||||||
| Operating loss |
(4,808 | ) | (24,018 | ) | ||||
| Other income (expense): |
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| Interest expense |
(64 | ) | (77 | ) | ||||
| Interest income |
147 | 914 | ||||||
| Other expense |
(105 | ) | (222 | ) | ||||
| Total other income (expense) |
(22 | ) | 615 | |||||
| Loss before income taxes |
(4,830 | ) | (23,403 | ) | ||||
| Income tax expense (benefit) |
1,518 | (3,052 | ) | |||||
| Net loss |
$ | (6,348 | ) | $ | (20,351 | ) | ||
| Net loss per share: |
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| Basic |
$ | (0.06 | ) | $ | (0.22 | ) | ||
| Diluted |
$ | (0.06 | ) | $ | (0.22 | ) | ||
| Shares used in per share calculations: |
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| Basic |
99,557 | 94,300 | ||||||
| Diluted |
99,557 | 94,300 | ||||||