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Nothing But Net 2009 Internet Investment Guide 25

Nothing But Net 2009 Internet Investment Guide 25. Leading J.P. Morgan Internet industry analyst Imran Khan provides a comprehensive look at key Internet industry characteristics, drivers, and trends in his seminal industry outlook, Nothing But Net. Geared toward Internet investing novices and experienced professionals, this book provides a detailed look at data points and trends that should be considered when investing in the Internet space. With almost 8 years of technology banking and investing experience, Khan provides a detailed analysis of multiple Internet sectors including online advertising, e-commerce, online travel, and social networking. This book is a must have for. | J.p Morgan Imran Khan 1-212 622-6693 imran.t.khan@jpmorgan.com Global Equity Research 05 January 2009 Table 161 PCLN Annual Balance Sheet in millions FY-07 FY-08E FY-09E FY-10E Cash and cash equivalents 385.4 386.5 593.1 910.9 Restricted cash 1.4 2.8 2.8 2.8 Short-term investments 122.5 38.9 38.9 38.9 Accounts receivable 70.7 128.9 162.0 197.0 Prepaid expenses and other current assets 33.1 45.2 47.9 38.9 Total current assets 613.0 602.3 844.7 1 188.5 Property and equipment net 27.1 29.7 33.7 37.7 Intangible assets net 182.7 213.4 213.4 213.4 Goodwill 287.2 353.4 353.4 353.4 Deferred Taxes 218.5 189.5 189.5 189.5 Other assets 22.3 32.2 32.2 32.2 Total assets 1 350.9 1 420.4 1 666.8 2 014.6 Accounts payable 47.7 70.8 90.8 147.8 Accrued expenses 59.6 92.7 92.7 92.7 Deferred merchant bookings 17.8 30.5 30.5 30.5 Other current liabilities 569.8 467.5 467.5 467.5 Total current liabilities 694.8 661.5 681.5 738.5 Deferred Taxes 46.5 54.4 54.4 54.4 Other long-term liabilities 13.4 16.9 16.9 16.9 Minority Interest 17.0 0.0 0.0 0.0 Long-term debt 0.0 0.0 0.0 0.0 Total liabilities 771.7 732.7 752.7 809.7 Series B Mandatorily Redeemable Preferred Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Common stock 0.008 par value per share 0.3 0.4 0.4 0.4 Treasury stock 2 496 326 shares and 2 496 326 489.1 493.4 493.4 493.4 Additional paid-in capital 2 124.0 2 123.3 2 349.7 2 640.5 Deferred compensation 0.0 0.0 0.0 0.0 Accumulated deficit 1 106.5 946.3 946.3 946.3 Accumulated other comprehensive income 50.3 3.8 3.8 3.8 Total stockholders equity 579.1 687.7 914.1 1 204.9 Total liabilities and stockholders equity 1 350.9 1 420.4 1 666.8 2 014.6 Source Company reports and J.P. Morgan estimates. 241 J.p Morgan Imran Khan 1-212 622-6693 imran.t.khan@jpmorgan.com Global Equity Research 05 January 2009 Table 162 PCLN Annual Cash Flow Statement in millions FY - 07 FY - 08E FY - 09E FY - 10E Net income loss 157.1 189.1 163.1 227.6 Depreciation 11.8 13.8 16.0 20.0 Amortization 25.7 28.3 29.0 29.0 .