Solarwinds, inc. (SWI)
Income statement / Quarterly
Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenue:
License

45,283

38,591

42,362

45,052

42,756

37,636

36,351

39,539

34,358

31,217

30,725

33,065

34,008

29,454

27,457

25,283

25,522

21,069

20,380

20,850

17,264

Maintenance and other

71,526

67,556

63,729

64,092

61,844

58,035

54,921

53,650

50,283

45,373

42,185

40,465

37,715

34,586

32,214

30,326

28,426

24,754

22,598

20,304

18,244

Subscription

14,816

12,929

10,701

9,295

8,262

5,833

4,637

3,904

3,222

929

0

-

0

0

-

-

-

-

-

-

-

Total revenue

131,625

119,076

116,792

118,439

112,862

101,504

95,909

97,093

87,863

77,519

72,910

73,530

71,723

64,040

59,671

55,609

53,948

45,823

42,978

41,154

35,508

Cost of license revenue

4,367

4,371

4,215

4,073

4,100

4,112

4,109

3,370

2,646

2,856

2,761

2,383

2,080

1,860

1,880

1,186

1,337

809

765

490

462

Cost of maintenance and other revenue

4,748

4,130

4,137

4,019

3,965

3,875

3,456

3,034

2,942

2,766

2,870

2,883

2,511

2,410

2,393

2,212

2,201

1,758

1,721

1,547

1,458

Cost of subscription revenue

5,382

4,920

4,227

3,770

3,513

2,911

2,463

2,625

1,511

535

0

-

0

-

-

-

-

-

-

-

-

Cost of subscription revenue

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

Gross profit

117,128

105,655

104,213

106,577

101,284

90,606

85,881

88,064

80,764

71,362

67,279

68,264

67,132

59,770

55,398

52,211

50,410

43,256

40,492

39,117

33,588

Operating expenses:
Sales and marketing

44,532

43,193

43,392

41,648

37,538

35,254

33,980

32,751

25,962

20,276

20,300

19,757

19,146

17,583

16,560

15,152

14,193

12,778

11,727

10,993

10,688

Research and development

17,454

15,133

16,370

14,695

13,761

13,883

14,140

11,892

9,558

8,218

7,846

7,955

7,214

6,929

6,671

5,692

5,568

5,034

5,038

4,054

3,824

General and administrative

18,618

19,399

20,338

19,706

18,274

23,263

15,929

14,161

13,383

11,554

9,821

8,972

9,288

8,370

8,449

8,093

6,996

6,317

6,670

5,860

6,925

Accrued earnout gain

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,600

-

-

-

-

Total operating expenses

80,604

77,725

80,100

76,049

69,573

72,400

64,049

58,804

48,903

40,048

37,967

36,684

35,648

32,882

31,680

29,873

25,157

24,129

23,435

20,907

21,437

Operating income

36,524

27,930

24,113

30,528

31,711

18,206

21,832

29,260

31,861

31,314

29,312

31,580

31,484

26,888

23,718

22,338

25,253

19,127

17,057

18,210

12,151

Other income (expense):
Interest income

96

108

109

117

85

83

78

72

91

110

123

-

112

-

-

-

-

-

-

-

-

Interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

67

Interest expense

279

88

103

107

142

216

219

215

0

0

0

-

-

-

-

-

-

-

-

-

363

Interest income

-

-

-

-

-

-

-

-

-

-

-

-

-

107

88

-

89

70

55

35

-

Other income (expense)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-163

Other income, net

538

2,356

97

194

238

13

195

72

-6

-340

-151

378

90

-33

-16

699

537

-210

-306

-174

-133

Total other income

355

2,376

103

204

181

-120

54

-71

85

-230

-28

501

202

74

72

793

626

-140

-251

-139

-

Income before income taxes

36,879

30,306

24,216

30,732

31,892

18,086

21,886

29,189

31,946

31,084

29,284

32,081

31,686

26,962

23,790

23,131

25,879

18,987

16,806

18,071

12,018

Income tax expense

9,866

8,161

6,050

7,765

7,771

4,707

4,240

8,030

9,123

8,287

6,285

9,782

9,200

7,535

6,659

6,837

4,991

5,436

5,096

5,912

3,682

Net income

27,013

22,145

18,166

22,967

24,121

13,379

17,646

21,159

22,823

22,797

22,999

22,299

22,486

19,427

17,131

16,294

20,888

13,551

11,710

12,159

8,336

Net income per share:
Basic earnings per share (in dollars per share)

0.37

0.29

0.24

0.30

0.32

0.18

0.23

0.28

0.30

0.30

0.31

0.31

0.30

0.26

0.23

0.22

0.29

0.19

0.16

0.18

0.12

Diluted earnings per share (in dollars per share)

0.36

0.29

0.24

0.29

0.32

0.18

0.23

0.27

0.30

0.30

0.30

0.29

0.29

0.26

0.23

0.22

0.28

0.18

0.16

0.17

0.11

Weighted average shares used to compute net income per share:
Shares used in computation of basic earnings per share (in shares)

73,808

76,476

76,205

75,778

75,508

75,411

75,207

75,120

75,371

75,250

74,987

74,544

74,344

74,033

73,743

73,214

72,947

72,719

72,368

68,668

68,202

Shares used in computation of diluted earnings per share (in shares)

74,476

77,400

77,191

76,891

76,463

76,296

76,198

76,170

76,466

76,592

76,672

76,549

76,303

75,848

75,440

74,846

74,457

74,346

74,003

72,511

73,287