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SOHU » Topics » Pro Forma Information under SFAS 123 for Prior Period

This excerpt taken from the SOHU 10-Q filed Nov 6, 2006.

Pro Forma Information under SFAS 123 for Prior Period

The following table illustrates the effect on net income and income per share if the Company had applied the fair value recognition provisions of SFAS 123, using the Black-Scholes option pricing model, to share-based employee compensation for the three and nine months ended September 30, 2005 (in thousands, except per share data):

 

     Three Months Ended
September 30, 2005		     Nine Months Ended
September 30, 2005		  

Net income as reported:

    $ 8,030     $ 20,844  

Add: Share-based compensation expense included in reported net income under APB 25

      —         2  

Deduct: Share-based compensation expense determined under fair value based method under SFAS 123

      (2,599 )     (5,492 )
                

Pro forma net income

    $ 5,431     $ 15,354  
                

Basic net income per share:

     

As reported

    $ 0.22     $ 0.58  
                

Pro forma

    $ 0.15     $ 0.42  
                

Diluted net income per share:

     

As reported

    $ 0.21     $ 0.54  
                

Pro forma

    $ 0.14     $ 0.41  
                

 

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Table of Contents

The fair value of each option granted during the nine months ended September 30, 2005 is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:

 

     Nine Months Ended
September 30, 2005		  

Risk-free interest rate

    3.15 %

Expected life (in years)

    2.82  

Expected dividend yield

    —    

Volatility

    84 %
This excerpt taken from the SOHU 10-Q filed Aug 8, 2006.

Pro Forma Information under SFAS 123 for Prior Period

The following table illustrates the effect on net income and income per share if the Company had applied the fair value recognition provisions of SFAS 123, using the Black-Scholes option pricing model, to share-based employee compensation for the three and six months ended June 30, 2005 (in thousands, except per share data):

 

    

Three Months

Ended June 30,

2005

    

Six Months

Ended June 30,

2005

  

Net income as reported:

    $ 7,100     $ 12,814  

Add: Share-based compensation expense included in reported net income under APB 25

      —         2  

Deduct: Share-based compensation expense determined under fair value based method under SFAS 123

      (2,113 )     (2,893 )
                

Pro forma net income

    $ 4,987     $ 9,923  
                

Basic net income per share:

     

As reported

    $ 0.20     $ 0.36  
                

Pro forma

    $ 0.14     $ 0.27  
                

Diluted net income per share:

     

As reported

    $ 0.18     $ 0.33  
                

Pro forma

    $ 0.13     $ 0.26  
                

The fair value of each option granted during the six months ended June 30, 2005 is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:

 

    

Six Months Ended

June 30, 2005

  

Risk-free interest rate

    2.70 %

Expected life (in years)

    2.42  

Expected dividend yield

    —    

Volatility

    92 %
This excerpt taken from the SOHU 10-Q filed May 2, 2006.

Pro Forma Information under SFAS 123 for Prior Period

The following table illustrates the effects on net income and income per share if the Company had applied the fair value recognition provisions of SFAS 123, using the Black-Scholes option pricing model, to share-based employee compensation for the three months ended March 31, 2005 (in thousands except per share data):

 

      Three Months Ended
March 31, 2005		  

Net income as reported:

    $ 5,714  

Add: Share-based compensation expense included in reported net income under APB 25

      2  

Deduct: Share-based compensation expense determined under fair value based method under SFAS 123

      (780 )
        

Pro forma net income

    $ 4,936  
        

Basic net income per share:

   

As reported

    $ 0.16  
        

Pro forma

    $ 0.14  
        

Diluted net income per share:

   

As reported

    $ 0.15  
        

Pro forma

    $ 0.13  
        

The fair value of each option granted during the three months ended March 31, 2005 is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:

 

     

Three Months Ended

March 31, 2005

  

Risk-free interest rate

    2.70 %

Expected life (in years)

    2.5  

Expected dividend yield

    —    

Volatility

    92 %

EXCERPTS ON THIS PAGE:

10-Q
Nov 6, 2006
10-Q
Aug 8, 2006
10-Q
May 2, 2006

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