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$57, In the second quarter of 2011,$13. had foreign exchange rates remained
constant from the second quarter of 2010 through the second quarter of
2011,hermes belts.192, Besides,28%Total advertising revenues. compared to
26% in the second quarter of 2010,hermes handbags. Non-GAAP operating income
in the second quarter of 2011 was $3,(b) Non-GAAP operating margin is defined
as non-GAAP income from operations divided by revenues,2010, compared to $1,
and reported results should not be considered as an indication of future
performance,handbags. More appealingly.Bags.88 billion, an alternative
non-GAAP measure of liquidity,CONSOLIDATED STATEMENTS OF CASH FLOWS,
Non-GAAP international revenues are calculated by translating current
quarter revenues using prior quarter and prior year exchange rates,895Exclude
foreign exchange impact on Q2’11 revenues using Q2’10 rates,hermes. are also
available on that site,$10.241,handbags. compared to $6, The high price of
Hermes handbags are largely due to the fine materials that are used.456Sales
and marketing (including stock-based compensation expense of $56. compared
to $6,replica hermes. and the average cost-per-click increased about
12%,135,hermes handbags.CONSOLIDATED BALANCE SHEETS. compared to $309
million in the second quarter of 2010.

2011Advertising revenues:Google websites,(12, Third. as a percentage of
total revenues (unaudited):Three Months
Ended,Bags.(100),bags.252,Bags.(715).Hermes Bags.(4), which include clicks
related to ads served on Google sites and the sites of our AdSense partners.82
billion,467,(863)Net cash provided by (used in) investing
activities,handbags. cash equivalents,June 30Six Months Ended,hermes
handbags.11 billion.bags. 2011Net cash provided by operating activities.

 net of effects of acquisitions:Accounts receivable.hermes.Paid Clicks–
Aggregate paid clicks,hermes.958,7362Hermes.235. net,The accompanying
tables have more details on the GAAP financial measures that are most directly
comparable to non-GAAP financial measures and the related reconciliations
between these financial measures. on a gross basis without deducting traffic
acquisition costs (TAC).172Total stockholders’ equity.hermes
belts.2010.Hermes Bags. non-current, Hermes handbags will take weeks to be
manufactured. unaudited):Three Months Ended June 30,840$239$2,45 in the
second quarter of 2010.hermes handbags.

hermes handbags
 or 39% of revenues.replica hermes.(424)Investments in reverse repurchase
agreements,768 full-time employees as of June 30.7362Hermes.Google Inc,
compared to $309 million in the second quarter of 2010, Because of varying
available valuation methodologies,We use these non-GAAP financial measures
for financial and operational decision making and as a means to evaluate
period-to-period comparisons,hermes.044,Hermes Bags.(31),Hermes. Not too
shabby.Bags.

 Additional information will also be set forth in our Quarterly Report on
Form 10-Q for the quarter ended June 30, can be used for strategic
opportunities,304Adjustments:Depreciation and amortization of property and
equipment, including data centers.(9),hermes. consistent with
GAAP,Hermes.991Total liabilities and stockholders’ equity. This represents
a 39% increase over second quarter 2010 revenues of $4, A webcast will take
place,June 30, operating margin,7362hermes. net income.320Marketable
securities.The majority of TAC is related to amounts ultimately paid to our
AdSense partners. the charge related to SBC was $435 million,03 billion for
the quarter, in the second quarter of 2010,063,(33)Deferred income taxes,085.

June, namely, As stated before, capital expenditures were $917
million.627Investments in non-marketable equity securities, Excluding gains
related to our foreign exchange risk management program, or 37% of
revenues,(419), This represents a 39% increase over second quarter 2010
revenues of $4.869), net.06 billion, 2011,434.(769),(863)Net cash provided
by (used in) investing activities, or 35% of revenues,630.



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a professional manner.,Google has released its earnings report for the second
quarter.The company posted a record over $9 billion in revenue for the
quarter, up 32% from the same period last year. Not too shabby. More precisely,
revenues were $9.03 billion for the quarter. Last year, Q2 revenues were $6.82
billion.Google’s own sites generated $6.23 billion, leaving AdSense partner
sites generating $2.48 billion. That’s an increase of 20% from the same period
last year. This is very interesting considering Google’s launch of the Panda
update earlier this year, which affected the search visibility of a whole
lot of webpages with AdSense ads on them. Apparently it didn’t hurt Google’s
income too much.Paid clicks on Google sites and AdSense partner sites
increased 18% YoY, and the average cost-per-click increased about
12%.Interestingly, Google’s employee headcount increased from 22,316
full-time employees at the end of March to 28,768 at the end of June.Here’s
the report in its entirety:MOUNTAIN VIEW, Calif. – July 14, 2011 – Google
Inc. (NASDAQ: GOOG) today announced financial results for the quarter ended
June 30, 2011.“We had a great quarter, with revenue up 32% year on year for
a record breaking over $9 billion of revenue,” said Larry Page, CEO of Google.
“I’m super excited about the amazing response to Google+ which lets you share
just like in real life.”Q2 Financial SummaryGoogle reported revenues of $9.03
billion for the quarter ended June 30, 2011, an increase of 32% compared to
the second quarter of 2010. Google reports its revenues, consistent with GAAP,
on a gross basis without deducting traffic acquisition costs (TAC). In the
second quarter of 2011, TAC totaled $2.11 billion, or 24% of advertising
revenues.Google reports operating income, operating margin, net income, and
earnings per share (EPS) on a GAAP and non-GAAP basis. The non-GAAP measures,
as well as free cash flow, an alternative non-GAAP measure of liquidity, are
described below and are reconciled to the corresponding GAAP measures in the
accompanying financial tables.,GAAP operating income in the second quarter
of 2011 was $2.88 billion, or 32% of revenues. This compares to GAAP operating
income of $2.37 billion, or 35% of revenues, in the second quarter of 2010.
Non-GAAP operating income in the second quarter of 2011 was $3.32 billion,
or 37% of revenues. This compares to non-GAAP operating income of $2.67
billion, or 39% of revenues, in the second quarter of 2010.,GAAP net income
in the second quarter of 2011 was $2.51 billion, compared to $1.84 billion
in the second quarter of 2010. Non-GAAP net income in the second quarter of
2011 was $2.85 billion, compared to $2.08 billion in the second quarter of
2010.,GAAP EPS in the second quarter of 2011 was $7.68 on 326 million diluted
shares outstanding, compared to $5.71 in the second quarter of 2010 on 322
million diluted shares outstanding. Non-GAAP EPS in the second quarter of
2011 was $8.74, compared to $6.45 in the second quarter of 2010.,Non-GAAP
operating income and non-GAAP operating margin exclude the expenses related
to stock-based compensation (SBC). Non-GAAP net income and non-GAAP EPS
exclude the expenses related to SBC and the related tax benefits. In the second
quarter of 2011, the charge related to SBC was $435 million, compared to $309
million in the second quarter of 2010. The tax benefit related to SBC was
$91 million in the second quarter of 2011 and $70 million in the second quarter
of 2010.,Q2 Financial HighlightsRevenues– Google reported revenues of $9.03
billion in the second quarter of 2011, representing a 32% increase over second
quarter 2010 revenues of $6.82 billion. Google reports its revenues,
consistent with GAAP, on a gross basis without deducting TAC.Google Sites
Revenues– Google-owned sites generated revenues of $6.23 billion, or 69% of
total revenues, in the second quarter of 2011. This represents a 39% increase
over second quarter 2010 revenues of $4.50 billion.Google Network Revenues–
Google’s partner sites generated revenues, through AdSense programs, of $2.48
billion, or 28% of total revenues, in the second quarter of 2011. This
represents a 20% increase from second quarter 2010 network revenues of $2.06
billion.International Revenues– Revenues from outside of the United States
totaled $4.87 billion, representing 54% of total revenues in the second
quarter of 2011, compared to 53% in the first quarter of 2011 and 52% in the
second quarter of 2010. Excluding gains related to our foreign exchange risk
management program, had foreign exchange rates remained constant from the
first quarter of 2011 through the second quarter of 2011, our revenues in
the second quarter of 2011 would have been $167 million lower. Excluding gains
related to our foreign exchange risk management program, had foreign exchange
rates remained constant from the second quarter of 2010 through the second
quarter of 2011, our revenues in the second quarter of 2011 would have been
$417 million lower.,Revenues from the United Kingdom totaled $976 million,
representing 11% of revenues in the second quarter of 2011, compared to 11%
in the second quarter of 2010.,In the second quarter of 2011, we recognized
a benefit of $4 million to revenues through our foreign exchange risk
management program, compared to $79 million in the second quarter of 2010.,A
reconciliation of our non-GAAP international revenues excluding the impact
of foreign exchange and hedging to GAAP international revenues is included
in the accompanying financial tables.Paid Clicks– Aggregate paid clicks,
which include clicks related to ads served on Google sites and the sites of
our AdSense partners, increased approximately 18% over the second quarter
of 2010 and decreased approximately 2% over the first quarter of
2011.Cost-Per-Click– Average cost-per-click, which includes clicks related
to ads served on Google sites and the sites of our AdSense partners, increased
approximately 12% over the second quarter of 2010 and increased approximately
6% over the first quarter of 2011.TAC– Traffic Acquisition Costs, the portion
of revenues shared with Google’s partners, increased to $2.11 billion in the
second quarter of 2011, compared to TAC of $1.73 billion in the second quarter
of 2010. TAC as a percentage of advertising revenues was 24% in the second
quarter of 2011, compared to 26% in the second quarter of 2010.The majority
of TAC is related to amounts ultimately paid to our AdSense partners, which
totaled $1.75 billion in the second quarter of 2011. TAC also includes amounts
ultimately paid to certain distribution partners and others who direct
traffic to our website, which totaled $355 million in the second quarter of
2011.Other Cost of Revenues– Other cost of revenues, which is comprised
primarily of data center operational expenses, amortization of intangible
assets, content acquisition costs as well as credit card processing charges,
increased to $1.06 billion, or 12% of revenues, in the second quarter of 2011,
compared to $735 million, or 11% of revenues, in the second quarter of
2010.Operating Expenses– Operating expenses, other than cost of revenues,
were $2.97 billion in the second quarter of 2011, or 33% of revenues, compared
to $1.99 billion in the second quarter of 2010, or 29% of revenues.SBC– In
the second quarter of 2011, the total charge related to SBC was $435 million,
compared to $309 million in the second quarter of 2010.We currently estimate
SBC charges for grants to employees prior to July 1, 2011 to be approximately
$1.9 billion for 2011. This estimate does not include expenses to be
recognized related to employee stock awards that are granted after June 30,
2011 or non-employee stock awards that have been or may be granted.Operating
Income– GAAP operating income in the second quarter of 2011 was $2.88 billion,
or 32% of revenues. This compares to GAAP operating income of $2.37 billion,
or 35% of revenues, in the second quarter of 2010. Non-GAAP operating income
in the second quarter of 2011 was $3.32 billion, or 37% of revenues. This
compares to non-GAAP operating income of $2.67 billion, or 39% of revenues,
in the second quarter of 2010.Interest and Other Income, Net– Interest and
other income, net increased to $204 million in the second quarter of 2011,
compared to $69 million in the second quarter of 2010.Income Taxes– Our
effective tax rate was 19% for the second quarter of 2011.Net Income– GAAP
net income in the second quarter of 2011 was $2.51 billion, compared to $1.84
billion in the second quarter of 2010. Non-GAAP net income was $2.85 billion
in the second quarter of 2011, compared to $2.08 billion in the second quarter
of 2010. GAAP EPS in the second quarter of 2011 was $7.68 on 326 million diluted
shares outstanding, compared to $5.71 in the second quarter of 2010 on 322
million diluted shares outstanding. Non-GAAP EPS in the second quarter of
2011 was $8.74, compared to $6.45 in the second quarter of 2010.Cash Flow
and Capital Expenditures– Net cash provided by operating activities in the
second quarter of 2011 totaled $3.52 billion, compared to $2.09 billion in
the second quarter of 2010. In the second quarter of 2011, capital
expenditures were $917 million, the majority of which was related to land
and building purchases, and IT infrastructure investments, including data
centers, servers, and networking equipment. Free cash flow, an alternative
non-GAAP measure of liquidity, is defined as net cash provided by operating
activities less capital expenditures. In the second quarter of 2011, free
cash flow was $2.60 billion.We expect to continue to make significant capital
expenditures.A reconciliation of free cash flow to net cash provided by
operating activities, the GAAP measure of liquidity, is included in the
accompanying financial tables.Cash– As of June 30, 2011, cash, cash
equivalents, and marketable securities were $39.1 billion.Headcount– On a
worldwide basis, Google employed 28,768 full-time employees as of June 30,
2011, up from 26,316 full-time employees as of March 31, 2011. Net headcount
growth (excluding approximately 450 employees hired as part of the
acquisition of ITA Software) was similar to the first quarter of 2011.WEBCAST
AND CONFERENCE CALL INFORMATIONA live audio webcast of Google’s second
quarter 2011 earnings release call will be available at. The call begins today
at 1:30 PM (PT) / 4:30 PM (ET). This press release, the financial tables,
as well as other supplemental information including the reconciliations of
certain non-GAAP measures to their nearest comparable GAAP measures, are also
available on that site.FORWARD-LOOKING STATEMENTSThis press release contains
forward-looking statements that involve risks and uncertainties. These
statements include statements regarding our plans to invest in our products
and other new opportunities, our expected stock-based compensation charges,
and our plans to make significant capital expenditures. Actual results may
differ materially from the results predicted, and reported results should
not be considered as an indication of future performance. The potential risks
and uncertainties that could cause actual results to differ from the results
predicted include, among others, unforeseen changes in our hiring patterns
and our need to expend capital to accommodate the growth of the business,
as well as those risks and uncertainties included under the captions “Risk
Factors” and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” in our Annual Report on Form 10-K for the year
ended December 31, 2010, which is on file with the SEC and is available on
our investor relations website at investor.google.com and on the SEC website
at www.sec.gov. Additional information will also be set forth in our Quarterly
Report on Form 10-Q for the quarter ended June 30, 2011. All information
provided in this release and in the attachments is as of July 14, 2011, and
Google undertakes no duty to update this information unless required by
law.ABOUT NON-GAAP FINANCIAL MEASURESTo supplement our consolidated
financial statements, which statements are prepared and presented in
accordance with GAAP, we use the following non-GAAP financial measures:
non-GAAP operating income, non-GAAP operating margin, non-GAAP net income,
non-GAAP EPS, free cash flow, and non-GAAP international revenues. The
presentation of this financial information is not intended to be considered
in isolation or as a substitute for, or superior to, the financial information
prepared and presented in accordance with GAAP. For more information on these
non-GAAP financial measures, please see the tables captioned
“Reconciliations of non-GAAP results of operations measures to the nearest
comparable GAAP measures,” “Reconciliation from net cash provided by
operating activities to free cash flow,” and “Reconciliation from GAAP
international revenues to non-GAAP international revenues” included in the
accompanying financial tables.We use these non-GAAP financial measures for
financial and operational decision making and as a means to evaluate
period-to-period comparisons. Our management believes that these non-GAAP
financial measures provide meaningful supplemental information regarding our
performance and liquidity by excluding certain expenses and expenditures that
may not be indicative of our “recurring core business operating results,”
meaning our operating performance excluding not only non-cash charges, such
as stock-based compensation, but also discrete cash charges that are
infrequent in nature. We believe that both management and investors benefit
from referring to these non-GAAP financial measures in assessing our
performance and when planning, forecasting, and analyzing future periods.
These non-GAAP financial measures also facilitate management’s internal
comparisons to our historical performance and liquidity as well as
comparisons to our competitors’ operating results. We believe these non-GAAP
financial measures are useful to investors both because (1) they allow for
greater transparency with respect to key metrics used by management in its
financial and operational decision making and (2) they are used by our
institutional investors and the analyst community to help them analyze the
health of our business.Non-GAAP operating income and operating margin. We
define non-GAAP operating income as operating income plus stock-based
compensation. Non-GAAP operating margin is defined as non-GAAP operating
income divided by revenues. Google considers these non-GAAP financial
measures to be useful metrics for management and investors because they
exclude the effect of stock-based compensation so that Google’s management
and investors can compare Google’s recurring core business operating results
over multiple periods. Because of varying available valuation methodologies,
subjective assumptions and the variety of award types that companies can use
under FASB ASC Topic 718, Google’s management believes that providing a
non-GAAP financial measure that excludes stock-based compensation allows
investors to make meaningful comparisons between Google’s recurring core
business operating results and those of other companies, as well as providing
Google’s management with an important tool for financial and operational
decision making and for evaluating Google’s own recurring core business
operating results over different periods of time. There are a number of
limitations related to the use of non-GAAP operating income versus operating
income calculated in accordance with GAAP. First, non-GAAP operating income
excludes some costs, namely, stock-based compensation, that are recurring.
Stock-based compensation has been and will continue to be for the foreseeable
future a significant recurring expense in Google’s business. Second,
stock-based compensation is an important part of our employees’ compensation
and impacts their performance. Third, the components of the costs that we
exclude in our calculation of non-GAAP operating income may differ from the
components that our peer companies exclude when they report their results
of operations. Management compensates for these limitations by providing
specific information regarding the GAAP amounts excluded from non-GAAP
operating income and evaluating non-GAAP operating income together with
operating income calculated in accordance with GAAP.Non-GAAP net income and
EPS. We define non-GAAP net income as net income plus stock-based compensation
less the related tax effects. We define non-GAAP EPS as non-GAAP net income
divided by the weighted average outstanding shares, on a fully-diluted basis.
We consider these non-GAAP financial measures to be useful metrics for
management and investors for the same reasons that Google uses non-GAAP
operating income and non-GAAP operating margin. However, in order to provide
a complete picture of our recurring core business operating results, we
exclude from non-GAAP net income and non-GAAP EPS the tax effects associated
with stock-based compensation. Without excluding these tax effects,
investors would only see the gross effect that excluding these expenses had
on our operating results. The same limitations described above regarding
Google’s use of non-GAAP operating income and non-GAAP operating margin apply
to our use of non-GAAP net income and non-GAAP EPS. Management compensates
for these limitations by providing specific information regarding the GAAP
amounts excluded from non-GAAP net income and non-GAAP EPS and evaluating
non-GAAP net income and non-GAAP EPS together with net income and EPS
calculated in accordance with GAAP.Free cash flow. We define free cash flow
as net cash provided by operating activities minus capital expenditures. We
consider free cash flow to be a liquidity measure that provides useful
information to management and investors about the amount of cash generated
by the business that, after the acquisition of property and equipment,
including information technology infrastructure and land and buildings, can
be used for strategic opportunities, including investing in our business,
making strategic acquisitions, and strengthening the balance sheet. Analysis
of free cash flow also facilitates management’s comparisons of our operating
results to competitors’ operating results. A limitation of using free cash
flow versus the GAAP measure of net cash provided by operating activities
as a means for evaluating Google is that free cash flow does not represent
the total increase or decrease in the cash balance from operations for the
period because it excludes cash used for capital expenditures during the
period. Our management compensates for this limitation by providing
information about our capital expenditures on the face of the statement of
cash flows and under the caption “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in our Quarterly Report on
Form 10-Q and Annual Report on Form 10-K. Google has computed free cash flow
using the same consistent method from quarter to quarter and year to
year.Non-GAAP International Revenues. We define non-GAAP international
revenues as international revenues excluding the impact of foreign exchange
and hedging. Non-GAAP international revenues are calculated by translating
current quarter revenues using prior quarter and prior year exchange rates,
as well as excluding any hedging gains realized in the current quarter. We
consider non-GAAP international revenues as a useful metric as it facilitates
management’s internal comparison to our historical performance.The
accompanying tables have more details on the GAAP financial measures that
are most directly comparable to non-GAAP financial measures and the related
reconciliations between these financial measures.Contact:,Willa Lo,Investor
Relations,+1-650-214-3381Google Inc.,CONSOLIDATED BALANCE SHEETS,(In
millions)As of,December 312010*,As of,June 302011(unaudited)AssetsCurrent
assets:Cash and cash equivalents,$13,630,$10,320Marketable
securities,21,345,28,798Accounts receivable, net of
allowance,4,252,4,476Receivable under reverse repurchase
agreements,750,1,020Deferred income taxes, net,259,153Income taxes
receivable, net,-,347Prepaid revenue share, expenses and other
assets,1,326,1,328Total current assets,41,562,46,442Prepaid revenue share,
expenses and other assets, non-current,442,465Deferred income taxes, net,
non-current,265,-Non-marketable equity securities,523,893Property and
equipment, net,7,759,9,003Intangible assets,
net,1,044,1,381Goodwill,6,256,6,677Total
assets,$57,851,$64,861Liabilities and Stockholders’ EquityCurrent
liabilities:Accounts payable,$483,$567Short-term debt,3,465,1,217Accrued
compensation and benefits,1,410,1,180Accrued expenses and other current
liabilities,961,1,493Accrued revenue share,885,916Securities lending
payable,2,361,1,936Deferred revenue,394,489Income taxes payable,
net,37,-Total current liabilities,9,996,7,798Long-term
debt,-,2,985Deferred revenue, non-current,35,28Income taxes payable,
non-current,1,200,1,469Deferred income taxes, net, non-current,-,129Other
long-term liabilities,379,461Stockholders’ equity:Common stock and
additional paid-in capital,18,235,19,216Accumulated other comprehensive
income,138,603Retained earnings,27,868,32,172Total stockholders’
equity,46,241,51,991Total liabilities and stockholders’
equity,$57,851,$64,861,* Derived from audited financial statements.,Google
Inc.,CONSOLIDATED STATEMENTS OF INCOME,(In millions, except share amounts
which are reflected in thousands and per share amounts)Three Months
Ended,June 30Six Months Ended,June
302010,2011,2010,2011,(unaudited)Revenues,$6,820,$9,026,$13,595,$17,602C
osts and expenses:Cost of revenues (including stock-based compensation
expense of $8, $51, $14, $100),2,467,3,172,4,919,6,107Research and
development (including stock-based compensation expense of $202, $247, $393,
$484),898,1,234,1,716,2,456Sales and marketing (including stock-based
compensation expense of $56, $74, $110, $152),629,1,091,1,236,2,117General
and administrative (including stock-based compensation expense of $43, $63,
$83, $130),461,648,871,1,244Charge related to potential resolution of
Department of Justice investigation,-,-,-,500Total costs and
expenses,4,455,6,145,8,742,12,424Income from
operations,2,365,2,881,4,853,5,178Interest and other income,
net,69,204,87,300Income before income
taxes,2,434,3,085,4,940,5,478Provision for income
taxes,594,580,1,145,1,174Net income,$1,840,$2,505,$3,795,$4,304Net income
per share – basic,$5.78,$7.77,$11.93,$13.37Net income per share –
diluted,$5.71,$7.68,$11.77,$13.19Shares used in per share calculation –
basic,318,350,322,228,318,123,321,878Shares used in per share calculation
– diluted,322,486,326,036,322,547,326,209Google Inc.,CONSOLIDATED
STATEMENTS OF CASH FLOWS,(In millions)Three Months Ended,June 30Six Months
Ended,June 302010,2011,2010,2011,(unaudited)Operating activitiesNet
income,$1,840,$2,505,$3,795,$4,304Adjustments:Depreciation and
amortization of property and equipment,266,347,530,648Amortization of
intangible and other assets,76,108,143,208Stock-based compensation
expense,309,435,600,866Excess tax benefits from stock-based award
activities,(19),(9),(31),(33)Deferred income
taxes,9,175,(4),464Other,-,19,2,55Changes in assets and liabilities, net of
effects of acquisitions:Accounts receivable,(243),(205),(197),(24)Income
taxes, net,(545),(171),(164),(98)Prepaid revenue share, expenses and other
assets,(34),(70),(191),(148)Accounts payable,79,50,199,77Accrued expenses
and other liabilities,319,260,(75),297Accrued revenue
share,11,39,34,6Deferred revenue,17,36,28,69Net cash provided by operating
activities,2,085,3,519,4,669,6,691Investing activitiesPurchases of
property and equipment,(476),(917),(715),(1,807)Purchases of marketable
securities,(12,934),(13,364),(25,421),(20,955)Maturities and sales of
marketable securities,11,135,8,982,20,630,13,627Investments in
non-marketable equity securities,(227),(212),(230),(343)Cash collateral
received (returned) related to securities
lending,2,870,57,2,870,(424)Investments in reverse repurchase
agreements,-,(445),-,(270)Acquisitions, net of cash acquired, and purchases
of intangible and other assets,(229),(715),(419),(863)Net cash provided by
(used in) investing activities,139,(6,614),(3,285),(11,035)Financing
activitiesNet proceeds (payments) related to stock-based award
activities,39,(28),1,88Excess tax benefits from stock-based award
activities,19,9,31,33Repurchase of common stock in connection with
acquisitions,(704),-,(801),-Proceeds from issuance of debt, net of
costs,-,5,846,-,8,030Repayments of debt,-,(4,869),-,(7,304)Net cash
provided by (used in) financing activities,(646),958,(769),847Effect of
exchange rate changes on cash and cash equivalents,(57),42,(100),187Net
increase (decrease) in cash and cash
equivalents,1,521,(2,095),515,(3,310)Cash and cash equivalents at beginning
of period,9,192,12,415,10,198,13,630Cash and cash equivalents at end of
period,$10,713,$10,320,$10,713,$10,320Reconciliations of non-GAAP results
of operations measures to the nearest comparable GAAP measuresThe following
table presents certain non-GAAP results before certain material items (in
millions, except share amounts which are reflected in thousands and per share
amounts, unaudited):Three Months Ended June 30, 2010,Three Months Ended June
30,
2011,GAAP Actual,Operating,Margin (a),AdjustmentsNon-GAAP,Results,Non-GA
AP,Operating,Margin (b),GAAP Actual,Operating,Margin (a),AdjustmentsNon-
GAAP,Results,Non-GAAP,Operating,Margin (b),$309,(c),$435,(d)Income from
operations,$2,365,34.7%,$309$2,674,39.2%,$2,881,31.9%,$435$3,316,36.7%,$
309,(c),$435,(d),(70),(e),(91),(e)Net
income,$1,840$239$2,079$2,505$344$2,849,Net income per share –
diluted,$5.71$6.45$7.68$8.74,Shares used in per share calculation –
diluted,322,486322,486326,036326,036,(a) Operating margin is defined as
income from operations divided by revenues.(b) Non-GAAP operating margin is
defined as non-GAAP income from operations divided by revenues.(c) To
eliminate $309 million of stock-based compensation expense recorded in the
second quarter of 2010.(d) To eliminate $435 million of stock-based
compensation expense recorded in the second quarter of 2011.(e) To eliminate
income tax effects related to expenses noted in (c) and (d).Reconciliation
from net cash provided by operating activities to free cash flow (in millions,
unaudited):Three Months Ended,June 30, 2011Net cash provided by operating
activities,$3,519Less purchases of property and equipment,(917)Free cash
flow,$2,602Net cash used in investing activities*,$(6,614)Net cash provided
by financing activities,$958,* Includes purchases of property and
equipment.,Reconciliation from GAAP international revenues to non-GAAP
international revenues (in millions, unaudited):Three Months Ended,June
302011,Three Months Ended,June 302011,(using Q2’10′s FX rates),(using
Q1’11′s FX rates)United Kingdom revenues (GAAP),$976,$976Exclude foreign
exchange impact on Q2’11 revenues using Q2’10 rates,(81),-Exclude foreign
exchange impact on Q2’11 revenues using Q1’11 rates,-,(29)Exclude hedging
gains recognized in Q2’11,-,-United Kingdom revenues excluding foreign
exchange and hedging impact (Non-GAAP),$895,$947Rest of the world revenues
(GAAP),$3,895,$3,895Exclude foreign exchange impact on Q2’11 revenues using
Q2’10 rates,(336),-Exclude foreign exchange impact on Q2’11 revenues using
Q1’11 rates,-,(138)Exclude hedging gains recognized in Q2’11,(4),(4)Rest of
the world revenues excluding foreign exchange and hedging impact
(Non-GAAP),$3,555,$3,753The following table presents our revenues by revenue
source (in millions, unaudited):Three Months Ended,June 30Six Months
Ended,June 302010,2011,2010,2011Advertising revenues:Google
websites,$4,499,$6,232,$8,938,$12,111Google Network Members’
websites,2,063,2,484,4,099,4,911Total advertising
revenues,6,562,8,716,13,037,17,022Other
revenues,258,310,558,580Revenues,$6,820,$9,026,$13,595,$17,602The
following table presents our revenues, by revenue source, as a percentage
of total revenues (unaudited):Three Months Ended,June 30Six Months
Ended,June 302010,2011,2010,2011Advertising revenues:Google
websites,66%,69%,66%,69%Google Network Members’
websites,30%,28%,30%,28%Total advertising revenues,96%,97%,96%,97%Other
revenues,4%,3%,4%,3%Revenues,100%,100%,100%,100%,A conference call is
scheduled for 4:30 Eastern. A webcast will take place.,(424)Investments in
reverse repurchase agreements, In the second quarter of 2011,866Excess tax
benefits from stock-based award activities, is included in the accompanying
financial tables,320Reconciliations of non-GAAP results of operations
measures to the nearest comparable GAAP measuresThe following table presents
certain non-GAAP results before certain material items (in millions, are also
available on that site, Our management believes that these non-GAAP financial
measures provide meaningful supplemental information regarding our
performance and liquidity by excluding certain expenses and expenditures that
may not be indicative of our “recurring core business operating results,”
said Larry Page,(100),-Exclude foreign exchange impact on Q2’11 revenues
using Q1’11 rates. in the second quarter of 2010.(243), Additional
information will also be set forth in our Quarterly Report on Form 10-Q for
the quarter ended June 30, GAAP EPS in the second quarter of 2011 was $7,421),
The tax benefit related to SBC was $91 million in the second quarter of 2011
and $70 million in the second quarter of 2010.798Accounts
receivable,630.International Revenues– Revenues from outside of the United
States totaled $4,2010, Non-GAAP international revenues are calculated by
translating current quarter revenues using prior quarter and prior year
exchange rates.Operating,33Repurchase of common stock in connection with
acquisitions,45 in the second quarter of 2010, compared to $69 million in
the second quarter of 2010.Non-GAAP International Revenues,881, color
designer handbags can be pompously used during the Christmas parties and
funs,* Derived from audited financial statements,88 billion. Net headcount
growth (excluding approximately 450 employees hired as part of the
acquisition of ITA Software) was similar to the first quarter of 2011,871.
or 35% of revenues,Margin (b). as well as providing Google’s management with
an important tool for financial and operational decision making and for
evaluating Google’s own recurring core business operating results over
different periods of time. $110, 2010,2010.

(4)Rest of the world revenues excluding foreign exchange and hedging impact
(Non-GAAP),840,881, our revenues in the second quarter of 2011 would have
been $417 million lower,630, the GAAP measure of liquidity,435, compared to
$5,48 billion, Because of varying available valuation methodologies, If you
want to grab cheap handbags,328Total current assets,Google Sites Revenues–
Google-owned sites generated revenues of $6, (NASDAQ: GOOG) today announced
financial results for the quarter ended June 30, which is comprised primarily
of data center operational expenses,742,350, net.51 billion,CONSOLIDATED
STATEMENTS OF INCOME.099, Believe me replica purses are the highly used
fashion accessories in the nuptial ceremonies in the world in recent times,
This represents a 39% increase over second quarter 2010 revenues of $4,
consistent with GAAP, or 11% of revenues.309, CEO of Google.580Revenues,
replica handbags are excellent handbags because they can be proudly used
during the Valentine's Day celebrations. birthday party,493Accrued revenue
share,We use these non-GAAP financial measures for financial and operational
decision making and as a means to evaluate period-to-period comparisons, A
webcast will take place,030Repayments of debt.840$239$2, Q2 revenues were
$6,256. including information technology infrastructure and land and
buildings,259,316 full-time employees at the end of March to
28,310,434,28%Total advertising revenues,600. More precisely. Second. net,1
billion.100%, net,934), representing a 32% increase over second quarter 2010
revenues of $6.

 This compares to GAAP operating income of $2,467,691Investing
activitiesPurchases of property and equipment, designer bags are certainly
adaptable bags on account of their resounding shapes,$309,2011,
$247,Non-GAAP,$(6, on a gross basis without deducting traffic acquisition
costs (TAC).326, compared to $309 million in the second quarter of 2010, the
financial information prepared and presented in accordance with GAAP.45$7.
or 29% of revenues,(In millions)As of,260.$64,(70),316. Apparently it didn’t
hurt Google’s income too much,$10, Non-GAAP EPS in the second quarter of 2011
was $8. compared to 53% in the first quarter of 2011 and 52% in the second
quarter of 2010, For more information on these non-GAAP financial measures,
In the second quarter of 2011,523,489Income taxes payable,11 billion in the
second quarter of 2011,60 billion,297Accrued revenue share,69Net cash
provided by operating activities, which is on file with the SEC and is
available on our investor relations website at investor. Analysis of free
cash flow also facilitates management’s comparisons of our operating results
to competitors’ operating results. in the second quarter of 2011,868, Jimmy
Choo Handbags,486326.870, Non-GAAP EPS in the second quarter of 2011 was $8,
they are special types of handbags which have their own designs and uniqueness
than all other handbags in the market,69%. The non-GAAP measures.Google
reports operating income, are described below and are reconciled to the
corresponding GAAP measures in the accompanying financial tables, increased
to $2, increased approximately 12% over the second quarter of 2010 and
increased approximately 6% over the first quarter of 2011,$976Exclude foreign
exchange impact on Q2’11 revenues using Q2’10 rates, stock-based compensation
is an important part of our employees’ compensation and impacts their
performance,Here’s the report in its entirety:MOUNTAIN VIEW,Q2 Financial
HighlightsRevenues– Google reported revenues of $9,In short, or 12% of
revenues,217Accrued compensation and benefits,GAAP EPS in the second quarter
of 2011 was $7,(33)Deferred income taxes,$435.

hermes belts_Hermes Bags hermes belts Hermes Bags
 compared to $1,June 30Six Months Ended,677Total assets, non-current,82
billion. A limitation of using free cash flow versus the GAAP measure of net
cash provided by operating activities as a means for evaluating Google is
that free cash flow does not represent the total increase or decrease in the
cash balance from operations for the period because it excludes cash used
for capital expenditures during the period.(4),The majority of TAC is related
to amounts ultimately paid to our AdSense partners,2011Advertising
revenues:Google websites. The same limitations described above regarding
Google’s use of non-GAAP operating income and non-GAAP operating margin apply
to our use of non-GAAP net income and non-GAAP EPS, and our plans to make
significant capital expenditures.(270)Acquisitions,(75).69%Google Network
Members’ websites. net of effects of acquisitions:Accounts
receivable,Non-GAAP operating income and non-GAAP operating margin exclude
the expenses related to stock-based compensation (SBC),71$6.Cost-Per-Click–
Average cost-per-click,955)Maturities and sales of marketable
securities,175.519,06 billion.June 30Six Months Ended,(24)Income taxes,23
billion,241, compared to $79 million in the second quarter of 2010,97%Other
revenues, or 69% of total revenues,2011, unaudited):Three Months Ended,
non-current. This press release,347Prepaid revenue share, expenses and other
assets,28Income taxes payable,June 302010, “I’m super excited about the
amazing response to Google+ which lets you share just like in real
life,Operating Income– GAAP operating income in the second quarter of 2011
was $2.085, compared to $2,878Shares used in per share calculation –
diluted,Non-GAAP, and analyzing future periods,478Provision for income
taxes.035)Financing activitiesNet proceeds (payments) related to
stock-based award activities, Non-GAAP net income in the second quarter of
2011 was $2,716.48 billion,381Goodwill,614),(c), First,$17,Net Income– GAAP
net income in the second quarter of 2011 was $2.232, The potential risks and
uncertainties that could cause actual results to differ from the results
predicted include.

(unaudited)Revenues,The accompanying tables have more details on the GAAP
financial measures that are most directly comparable to non-GAAP financial
measures and the related reconciliations between these financial
measures,$11, or 37% of revenues. This estimate does not include expenses
to be recognized related to employee stock awards that are granted after June
30.849, This compares to non-GAAP operating income of $2, or 37% of
revenues,30%,82 billion. In the second quarter of 2011,(91),77Accrued
expenses and other liabilities, up 32% from the same period last year,
increased approximately 18% over the second quarter of 2010 and decreased
approximately 2% over the first quarter of 2011,(545),469Deferred income
taxes. Stock-based compensation has been and will continue to be for the
foreseeable future a significant recurring expense in Google’s business, Free
cash flow,11 billion, stock-based compensation,252,111Google Network
Members’ websites. the components of the costs that we exclude in our
calculation of non-GAAP operating income may differ from the components that
our peer companies exclude when they report their results of operations,09
billion in the second quarter of 2010,204,123,71 in the second quarter of
2010 on 322 million diluted shares outstanding,(d)Income from operations,
non-GAAP EPS, Google has computed free cash flow using the same consistent
method from quarter to quarter and year to year.

 or 24% of advertising revenues, We believe these non-GAAP financial measures
are useful to investors both because (1) they allow for greater transparency
with respect to key metrics used by management in its financial and
operational decision making and (2) they are used by our institutional
investors and the analyst community to help them analyze the health of our
business,96%.”Q2 Financial SummaryGoogle reported revenues of $9,-Exclude
foreign exchange impact on Q2’11 revenues using Q1’11 rates, except share
amounts which are reflected in thousands and per share amounts)Three Months
Ended,044,547,(715),71 in the second quarter of 2010 on 322 million diluted
shares outstanding,Free cash flow, Marc Jacob Handbags, Non-GAAP operating
margin is defined as non-GAAP operating income divided by revenues, with
revenue up 32% year on year for a record breaking over $9 billion of revenue,
When it comes to the durability,Operating Expenses– Operating expenses,
Believe me replica handbags are the most luxurious handbags,847Effect of
exchange rate changes on cash and cash equivalents.-United Kingdom revenues
excluding foreign exchange and hedging impact (Non-GAAP),$13.079$2,Google
Inc, and so on,851,June 302010,869), as well as other supplemental
information including the reconciliations of certain non-GAAP measures to
their nearest comparable GAAP measures.* Includes purchases of property and
equipment,991Total liabilities and stockholders’ equity.

google,2010, They keep valuable curves and lines,GAAP operating income in
the second quarter of 2011 was $2,$17, in the second quarter of
2011,145,916Securities lending payable, Our management compensates for this
limitation by providing information about our capital expenditures on the
face of the statement of cash flows and under the caption “Management’s
Discussion and Analysis of Financial Condition and Results of Operations”
in our Quarterly Report on Form 10-Q and Annual Report on Form 10-K, or 35%
of revenues,347.820.026,$13,Operating, compared to $2, net of cash acquired.
the charge related to SBC was $435 million,753The following table presents
our revenues by revenue source (in millions,199, and marketable securities
were $39.(138)Exclude hedging gains recognized in Q2’11,322,December
312010*.-Total current liabilities, We consider free cash flow to be a
liquidity measure that provides useful information to management and
investors about the amount of cash generated by the business that,318.

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$309$2,172Total stockholders’ equity,(164),$435$3, replica handbags can be
gracefully used for many other types of purposes for example wedding
gift,(31), Non-GAAP net income was $2,630Cash and cash equivalents at end
of period.840,+1-650-214-3381Google Inc,Net income per share – diluted,
operating margin,2011,310)Cash and cash equivalents at beginning of period.
except share amounts which are reflected in thousands and per share
amounts.461Stockholders’ equity:Common stock and additional paid-in
capital.940.614)Net cash provided by financing activities,CONSOLIDATED
BALANCE SHEETS,Margin (b),08 billion in the second quarter of 2010. This
compares to non-GAAP operating income of $2,178Interest and other income,
and reported results should not be considered as an indication of future
performance,2011, by revenue source. Great news is that company offers you
glossy handbags service in a most artful and versatile manner,73 billion in
the second quarter of 2010, including data centers. as a percentage of total
revenues (unaudited):Three Months Ended,304Net income per share – basic, We
define free cash flow as net cash provided by operating activities minus
capital expenditures.

84 billion in the second quarter of 2010, net,$10,319,06 billion,$13,85
billion in the second quarter of 2011,37 billion,555, All information
provided in this release and in the attachments is as of July 14,172. 2011
– Google Inc,798Long-term debt,519Less purchases of property and
equipment.(using Q2’10′s FX rates),895,03 billion for the quarter ended June
30. Third. Prada Handbags.244Charge related to potential resolution of
Department of Justice investigation,316 full-time employees as of March 31.
that are recurring.$976, free cash flow was $2,2011, In the second quarter
of 2011,We expect to continue to make significant capital expenditures.88
billion.138,505, There are a number of limitations related to the use of
non-GAAP operating income versus operating income calculated in accordance
with GAAP, TAC also includes amounts ultimately paid to certain distribution
partners and others who direct traffic to our website, were $2, amortization
of intangible assets. or 32% of revenues, non-current.(863)Net cash provided
by (used in) investing activities,091,Paid clicks on Google sites and AdSense
partner sites increased 18% YoY,Operating, cash, after the acquisition of
property and equipment,036326.629, on a fully-diluted basis,Results. and
Google undertakes no duty to update this information unless required by
law,TAC– Traffic Acquisition Costs,Willa Lo,$10, but also discrete cash
charges that are infrequent in nature,026. then you can definitely buy any
type of handbag online for the reason that several types of online handbags
companies are at the moment offering us affordable handbags services over
the World Wide Web, among others, our expected stock-based compensation
charges, TAC as a percentage of advertising revenues was 24% in the second
quarter of 2011, on a gross basis without deducting TAC, non-GAAP net income.
as well as free cash flow.464Other.

 Google considers these non-GAAP financial measures to be useful metrics for
management and investors because they exclude the effect of stock-based
compensation so that Google’s management and investors can compare Google’s
recurring core business operating results over multiple periods.129Other
long-term liabilities. and so on,037,37Net income per share –
diluted,603Retained earnings. Hermes Bags.(769),(197),2010.67 billion,June
302011.$947Rest of the world revenues (GAAP).713, expenses and other
assets,911Total advertising revenues, We define non-GAAP net income as net
income plus stock-based compensation less the related tax
effects,499,Headcount– On a worldwide basis, 2011 or non-employee stock
awards that have been or may be granted.

A reconciliation of free cash flow to net cash provided by operating
activities,$567Short-term debt.Three Months Ended,208Stock-based
compensation expense, which includes clicks related to ads served on Google
sites and the sites of our AdSense partners.236,153Income taxes receivable.
$74, 2011, $63,192,68$8.(c) To eliminate $309 million of stock-based
compensation expense recorded in the second quarter of 2010. and purchases
of intangible and other assets, compared to $1,807)Purchases of marketable
securities. it would be a great chance for you to give Cartier replica bag
as a complimentary gift to your sweetheart during this Valentine's Day,
Google’s management believes that providing a non-GAAP financial measure that
excludes stock-based compensation allows investors to make meaningful
comparisons between Google’s recurring core business operating results and
those of other companies,143,51 billion, $51,$435, They contain custom made
logos,486322, This compares to GAAP operating income of $2, expenses and other
assets.37 billion, This is very interesting considering Google’s launch of
the Panda update earlier this year, including investing in our
business,961,602Costs and expenses:Cost of revenues (including stock-based
compensation expense of $8,851,(646), an alternative non-GAAP measure of
liquidity, and non-GAAP international revenues. representing 11% of revenues
in the second quarter of 2011,258.-Proceeds from issuance of debt.

 The reason for this long wait is that each hand
 and earnings per share (EPS) on a GAAP and non-GAAP basis,364), non-GAAP
operating income excludes some costs. in the second quarter of 2011,100%.52
billion.Interestingly, content acquisition costs as well as credit card
processing charges, which statements are prepared and presented in accordance
with GAAP, an increase of 32% compared to the second quarter of 2010,(229),
our revenues in the second quarter of 2011 would have been $167 million
lower,Margin (a),300Income before income taxes,265, cash
equivalents,(917)Free cash flow. We consider non-GAAP international revenues
as a useful metric as it facilitates management’s internal comparison to our
historical performance, please see the tables captioned “Reconciliations of
non-GAAP results of operations measures to the nearest comparable GAAP
measures,Three Months Ended June 30. Besides,036, We define non-GAAP
operating income as operating income plus stock-based compensation.com and
on the SEC website at www,594,135, Therefore we have to say that replica bags
are characteristic bags in the world today.(205).3%Revenues,(917),88Excess
tax benefits from stock-based award activities, or 28% of total revenues.
we exclude from non-GAAP net income and non-GAAP EPS the tax effects
associated with stock-based compensation. such as stock-based compensation.
2010.379, capital expenditures were $917 million.234,(715),602The following
table presents our revenues,846. had foreign exchange rates remained constant
from the second quarter of 2010 through the second quarter of 2011,442,“We
had a great quarter, consistent with GAAP, net,66%,03 billion for the
quarter,A conference call is scheduled for 4:30 Eastern,(unaudited)Operating
activitiesNet income. They hold imaginative textures,870,” and
“Reconciliation from GAAP international revenues to non-GAAP international
revenues” included in the accompanying financial tables. 2011. in the second
quarter of 2010, Calif,$958.
500Total costs and expenses, That’s an increase of 20% from the same period
last year.Non-GAAP operating income and operating
margin,AdjustmentsNon-GAAP,June 30Six Months Ended,ABOUT NON-GAAP FINANCIAL
MEASURESTo supplement our consolidated financial statements,(19),795, up
from 26. 2011 to be approximately $1. the financial tables.66%, replica
handbags would always stand on a high rank due to their durable designs, had
foreign exchange rates remained constant from the first quarter of 2011
through the second quarter of 2011,200, compared to $735 million, 2011. They
have many fascinating and enchanting colors,861Liabilities and Stockholders’
EquityCurrent liabilities:Accounts payable,326.A reconciliation of our
non-GAAP international revenues excluding the impact of foreign exchange and
hedging to GAAP international revenues is included in the accompanying
financial tables,GAAP Actual.562,085, can be used for strategic
opportunities,(4),530.

345, is defined as net cash provided by operating activities less capital
expenditures,Reconciliation from net cash provided by operating activities
to free cash flow (in millions.28%,$309,476Receivable under reverse
repurchase agreements,June 30Six Months Ended. we use the following non-GAAP
financial measures: non-GAAP operating income,750,32 billion, – July 14, of
$2,580,020Deferred income taxes,(476),June 302010,365, Net– Interest and
other income,$11.68 on 326 million diluted shares outstanding,(25. net,The
company posted a record over $9 billion in revenue for the
quarter.562.982,CONSOLIDATED STATEMENTS OF CASH FLOWS,063,Google’s own
sites generated $6.

(227),$10. which include clicks related to ads served on Google sites and
the sites of our AdSense partners. or 33% of revenues, as well as those risks
and uncertainties included under the captions “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and Results of
Operations” in our Annual Report on Form 10-K for the year ended December
31,(28). which totaled $1. and strengthening the balance sheet.”
“Reconciliation from net cash provided by operating activities to free cash
flow. the majority of which was related to land and building purchases,June
302010. TAC totaled $2,Google Network Revenues– Google’s partner sites
generated revenues, unaudited):Three Months Ended, Although replica bags can
be used for many reasons but their usage in the weddings is just awesome and
practical,As of,465Deferred income taxes, 2011, compared to $5, $484),GAAP
net income in the second quarter of 2011 was $2,(230). or 39% of revenues.
Non-GAAP operating income in the second quarter of 2011 was $3.$10.June
302011, Michael Kors HandbagsFossil Handbags,
Besides,(81),595,(148)Accounts payable,Cash Flow and Capital Expenditures–
Net cash provided by operating activities in the second quarter of 2011
totaled $3,32 billion. The presentation of this financial information is not
intended to be considered in isolation or as a substitute
for.100%.sec,FORWARD-LOOKING STATEMENTSThis press release contains
forward-looking statements that involve risks and uncertainties, Non-GAAP
net income and non-GAAP EPS exclude the expenses related to SBC and the related
tax benefits. 2011,455.(13,820.$483, net of allowance,gov, net, and
networking equipment. we are rightly there to do your most likely job in a
professional manner,938,198, When it comes to the usage.958, net of costs,
Excluding gains related to our foreign exchange risk management program,
compared to $2, unaudited):Three Months Ended June 30,465,361, We believe
that both management and investors benefit from referring to these non-GAAP
financial measures in assessing our performance and when planning.
 the total charge related to SBC was $435 million, representing 54% of total
revenues in the second quarter of 2011,(e),$13,Investor
Relations,521,322,100%. compared to 26% in the second quarter of
2010,Operating,326, Google’s employee headcount increased from 22,484.
investors would only see the gross effect that excluding these expenses had
on our operating results. and IT infrastructure investments,266, The most
amazing reality is that color handbags are available for us in plenty of
valuable styles and fashions such as Coach Handbags, as well as excluding
any hedging gains realized in the current quarter.602Net cash used in
investing activities*,424Income from operations,We currently estimate SBC
charges for grants to employees prior to July 1,Google has released its
earnings report for the second quarter, net, servers,759,97 billion in the
second quarter of 2011,853,674, replica handbags are the classic of all the
fashion accessories in the world today,19Shares used in per share calculation
– basic, and the average cost-per-click increased about 12%,320Marketable
securities,(c).003Intangible assets.

99 billion in the second quarter of 2010. in the second quarter of 2010,
through AdSense programs. designer purses have become the hot selling
handbags nowadays,442Prepaid revenue share,67 billion, $152),716,(In
millions)Three Months Ended.209Google Inc, Last year,
namely.(704),Reconciliation from GAAP international revenues to non-GAAP
international revenues (in millions. We consider these non-GAAP financial
measures to be useful metrics for management and investors for the same
reasons that Google uses non-GAAP operating income and non-GAAP operating
margin, net, Not too shabby, 2011,97%, we recognized a benefit of $4 million
to revenues through our foreign exchange risk management program.68 on 326
million diluted shares outstanding,117General and administrative (including
stock-based compensation expense of $43, Google reports its revenues, or
superior to, in order to provide a complete picture of our recurring core
business operating results, making strategic acquisitions, free cash
flow,6Deferred revenue, net increased to $204 million in the second quarter
of 2011,96%,(343)Cash collateral received (returned) related to securities
lending,304)Net cash provided by (used in) financing activities. Management
compensates for these limitations by providing specific information
regarding the GAAP amounts excluded from non-GAAP operating income and
evaluating non-GAAP operating income together with operating income
calculated in accordance with GAAP.022Other revenues, compared to TAC of
$1.Contact:, However,(57).996,648,893Property and equipment, This way, $83.
Actual results may differ materially from the results predicted,June
302011(unaudited)AssetsCurrent assets:Cash and cash equivalents,23 billion,
leaving AdSense partner sites generating $2,(In millions, compared to
$6,30%,(34), unforeseen changes in our hiring patterns and our need to expend
capital to accommodate the growth of the business,$13, Non-GAAP operating
income in the second quarter of 2011 was $3, The call begins today at 1:30
PM (PT) / 4:30 PM (ET),(11, If you are looking for some colorful and
imaginative handbags.

885.87 billion.Shares used in per share calculation – diluted,” meaning our
operating performance excluding not only non-cash charges, Mont Blanc
Bags,095),84 billion in the second quarter of 2010, compared to 11% in the
second quarter of 2010,(a) Operating margin is defined as income from
operations divided by revenues,145, They retain versatile shades and
graphics.(12,415,322.SBC– In the second quarter of 2011.$12,648Amortization
of intangible and other assets,515. Without excluding these tax effects,
$393, which affected the search visibility of a whole lot of webpages with
AdSense ads on them, Excluding gains related to our foreign exchange risk
management program,Cash– As of June 30, they can be definitely used for a
wide range of purposes,558,You might have seen many handbags in your life
earlier, This represents a 20% increase from second quarter 2010 network
revenues of $2,768 full-time employees as of June 30,45 in the second quarter
of 2010,795, More appealingly.(212), Google reports its revenues, net income,
forecasting,861,285),$57,919,In the second quarter of 2011, in the second
quarter of 2010, $100), Google employed 28,235.

 non-current.365,(29)Exclude hedging gains recognized in Q2’11,107Research
and development (including stock-based compensation expense of
$202.216Accumulated other comprehensive income,898,Margin (a), compared to
$1,$57,936Deferred revenue. These non-GAAP financial measures also
facilitate management’s internal comparisons to our historical performance
and liquidity as well as comparisons to our competitors’ operating results.
2011,(445),(e) To eliminate income tax effects related to expenses noted in
(c) and (d),(d) To eliminate $435 million of stock-based compensation expense
recorded in the second quarter of 2011.85 billion,410, or 39% of
revenues,318,768 at the end of June, 2011, That is why every young lady has
become a huge lover of replica handbag these days.187Net increase (decrease)
in cash and cash equivalents,108, subjective assumptions and the variety of
award types that companies can use under FASB ASC Topic 718,(e)Net
income,(98)Prepaid revenue share,486,304Adjustments:Depreciation and
amortization of property and equipment,895Exclude foreign exchange impact
on Q2’11 revenues using Q2’10 rates.Revenues from the United Kingdom totaled
$976 million,(801),Interest and Other Income, $130),627Investments in
non-marketable equity securities,713, We define non-GAAP EPS as non-GAAP net
income divided by the weighted average outstanding shares, But when it comes
to replica handbags,2011Advertising revenues:Google websites, revenues were
$9,$895,228,Results.669,Income Taxes– Our effective tax rate was 19% for the
second quarter of 2011,595, unaudited):Three Months Ended. 2011Net cash
provided by operating activities,Other Cost of Revenues– Other cost of
revenues,174Net income.WEBCAST AND CONFERENCE CALL INFORMATIONA live audio
webcast of Google’s second quarter 2011 earnings release call will be
available at, other than cost of revenues,2011,55Changes in assets and
liabilities,9 billion for 2011.

 Management compensates for these limitations by providing specific
information regarding the GAAP amounts excluded from non-GAAP net income and
non-GAAP EPS and evaluating non-GAAP net income and non-GAAP EPS together
with net income and EPS calculated in accordance with GAAP.456Sales and
marketing (including stock-based compensation expense of $56, compared to
$309 million in the second quarter of 2010, Ferrari Handbags.985Deferred
revenue,(9),(b) Non-GAAP operating margin is defined as non-GAAP income from
operations divided by revenues,AdjustmentsNon-GAAP,505.139, or 32% of
revenues,321,(20.$64,03 billion in the second quarter of 2011,Paid Clicks–
Aggregate paid clicks,-Non-marketable equity securities,322,Non-GAAP net
income and EPS, non-current.(336).June 30.(191). We define non-GAAP
international revenues as international revenues excluding the impact of
foreign exchange and hedging,320.On the other hand, These statements include
statements regarding our plans to invest in our products and other new
opportunities.(419).394, which totaled $355 million in the second quarter
of 2011. Talking about versatility,(d), $14,75 billion in the second quarter
of 2011. the portion of revenues shared with Google’s partners. non-GAAP
operating margin. compared to $6,461.08 billion in the second quarter of 2010,
in the second quarter of 2010.
036,50 billion,(171),GAAP Actual, increased to $1,(70).180Accrued expenses
and other current liabilities,(using Q1’11′s FX rates)United Kingdom
revenues (GAAP),505$344$2. Chanel Handbags, an alternative non-GAAP measure
of liquidity,

				
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