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Akamai Reports Second Quarter 2011 Financial Results

CAMBRIDGE, Mass. July 27, 2011

  • $277.0 million
  • $47.9 million $0.25
  • $65.8 million $0.35

http://photos.prnewswire.com/prnh/20100225/AKAMAILOGO

June 30, 2011 $277.0 million $245.3 million $276.0 million

$47.9 million $0.25 $38.1 million $0.20 $50.6 million $0.26

$65.8 million $0.35 $65.0 million $0.34 $72.2 million $0.38

$28.3 million North America $5.0 million $0.03

Paul Sagan

$126.2 million $112.1 million $129.2 million

$111.8 million $1.3 billion

the United States

April 2009 April 2011 $50.5 million $32.90 June 30, 2011 $251.5 million $30.15

June 30, 2011

Quarterly Conference Call

4:30 p.m. ET www.akamai.com

About Akamai

www.akamai.com

Financial Statements

Condensed Consolidated Balance Sheets

(dollar amounts in thousands)

(unaudited)

June 30, 2011

Dec. 31, 2010

Assets

Cash and cash equivalents

$                              205,629

$                              231,866

Marketable securities

291,596

374,733

Restricted marketable securities

51

272

Accounts receivable, net

178,260

175,366

Deferred income tax assets, current portion

28,069

28,201

Prepaid expenses and other current assets

47,348

48,029

Current assets

750,953

858,467

Marketable securities

788,152

636,486

Restricted marketable securities

45

45

Property and equipment, net

274,377

255,929

Goodwill and other intangible assets, net

506,801

515,370

Other assets

9,540

11,153

Deferred income tax assets, net

74,281

75,226

Total assets

$                           2,404,149

$                           2,352,676

Liabilities and stockholders’ equity

Accounts payable and accrued expenses

$                              115,962

$                              120,046

Other current liabilities

22,746

25,105

Current liabilities

138,708

145,151

Other liabilities

37,126

29,920

Total liabilities

175,834

175,071

Stockholders’ equity

2,228,315

2,177,605

Total liabilities and stockholders’ equity

$                           2,404,149

$                           2,352,676

Condensed Consolidated Statements of Operations

(amounts in thousands, except per share data)

(unaudited)

Three Months Ended

Six Months Ended

June 30,

Mar. 31,

June 30,

June 30,

June 30,

2011

2011

2010

2011

2010

Revenues

$              276,989

$             275,953

$        245,318

$        552,942

$              485,347

Costs and operating expenses:  

Cost of revenues * **

89,647

89,068

71,840

178,715

139,314

Research and development *

11,006

12,594

13,577

23,600

26,756

Sales and marketing *

52,837

53,365

55,203

106,202

104,871

General and administrative * **

45,975

43,901

43,707

89,876

83,257

Amortization of other intangible assets

4,292

4,277

4,152

8,569

8,260

Total costs and operating expenses

203,757

203,205

188,479

406,962

362,458

Operating income

73,232

72,748

56,839

145,980

122,889

Interest income, net

(3,096)

(2,960)

(2,771)

(6,056)

(5,433)

Loss on early extinguishment of debt

294

294

Other loss (income), net

107

1,035

(122)

1,142

(47)

Income before provision for income taxes

76,221

74,673

59,438

150,894

128,075

Provision for income taxes

28,300

24,056

21,315

52,356

49,074

Net income

$                47,921

$               50,617

$          38,123

$          98,538

$                79,001

Net income per share:

   Basic

$                    0.26

$                   0.27

$              0.22

$              0.53

$                    0.46

   Diluted

$                    0.25

$                   0.26

$              0.20

$              0.52

$                    0.42

Shares used in per share calculations:

   Basic

186,612

186,849

173,317

186,731

172,209

   Diluted

190,179

191,383

190,479

190,781

189,746

* Includes stock-based compensation (see supplemental table for figures)

** Includes depreciation and amortization (see supplemental table for figures)

Condensed Consolidated Statements of Cash Flows

(amounts in thousands)

(unaudited)

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