10-Q Filing

MERCADOLIBRE INC CIK: 1099590 Q1 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-046626`
Period End Date	20110331
Filing Date	20110506
Fiscal Year	2011
Fiscal Period	Q1
XBRL Instance	meli-20110331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 38 Cash Flow Statement 60 Stockholders Equity 30

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$34.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$49.80M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	110.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$56.83M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	110.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.13M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	44.13M	shares	Point-in-time
Short-term investments	`ShortTermInvestments`	$5.34M	USD	Point-in-time
Short-term investments	`ShortTermInvestments`	$3.18M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$13.45M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.13M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$12.62M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	44.13M	shares	Point-in-time
Funds receivable from customers	`FundsReceivableFromCustomers`	$6.15M	USD	Point-in-time
Funds receivable from customers	`FundsReceivableFromCustomers`	$5.63M	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$913.26K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$843.91K	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$12.91M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetCurrent`	$12.96M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$7.20M	USD	Point-in-time
Other assets	`OtherAssetsCurrent`	$6.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$94.22M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$101.64M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$101.82M	USD	Point-in-time
Long-term investments	`LongTermInvestments`	$78.85M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$22.67M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$20.82M	USD	Point-in-time
Goodwill, net	`Goodwill`	$60.48M	USD	Point-in-time
Goodwill, net	`Goodwill`	$60.50M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$3.98M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.14M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.84M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$2.98M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$771.22K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$710.08K	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$168.05M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$192.51M	USD	Point-in-time
Total assets	`Assets`	$286.73M	USD	Point-in-time
Total assets	`Assets`	$269.68M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$17.23M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$17.95M	USD	Point-in-time
Funds payable to customers	`FundsPayableToCustomers`	$52.77M	USD	Point-in-time
Funds payable to customers	`FundsPayableToCustomers`	$48.79M	USD	Point-in-time
Payroll and social security payable	`EmployeeRelatedLiabilitiesCurrent`	$10.79M	USD	Point-in-time
Payroll and social security payable	`EmployeeRelatedLiabilitiesCurrent`	$9.78M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$11.49M	USD	Point-in-time
Taxes payable	`TaxesPayableCurrent`	$9.78M	USD	Point-in-time
Loans payable and other financial liabilities	`LoansPayableCurrent`	$100.03K	USD	Point-in-time
Loans payable and other financial liabilities	`LoansPayableCurrent`	$92.51K	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$3.53M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$88.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$93.89M	USD	Point-in-time
Payroll and social security payable	`PayrollAndSocialSecurityPayableNonCurrent`	$2.51M	USD	Point-in-time
Payroll and social security payable	`PayrollAndSocialSecurityPayableNonCurrent`	$2.56M	USD	Point-in-time
Loans payable and other financial liabilities	`LongTermLoansPayable`	$188.85K	USD	Point-in-time
Loans payable and other financial liabilities	`LongTermLoansPayable`	$166.59K	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$5.15M	USD	Point-in-time
Deferred tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$5.17M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.91M	USD	Point-in-time
Other liabilities	`OtherLiabilitiesNoncurrent`	$1.65M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$9.74M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$9.57M	USD	Point-in-time
Total liabilities	`Liabilities`	$103.63M	USD	Point-in-time
Total liabilities	`Liabilities`	$97.96M	USD	Point-in-time
Common stock, $0.001 par value, 110,000,000 shares authorized, 44,131,966 and 44,131,376 shares issued and outstanding at March 31, 2011 and December 31, 2010, respectively	`CommonStockValue`	$44.13K	USD	Point-in-time
Common stock, $0.001 par value, 110,000,000 shares authorized, 44,131,966 and 44,131,376 shares issued and outstanding at March 31, 2011 and December 31, 2010, respectively	`CommonStockValue`	$44.13K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$120.39M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$120.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$84.21M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$73.68M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-21.57M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-22.40M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$123.25M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$183.11M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$114.19M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$171.72M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$286.73M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$269.68M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`SalesRevenueServicesNet`	$45.94M	USD	1 Quarter
Net revenues	`SalesRevenueServicesNet`	$61.46M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$9.89M	USD	1 Quarter
Cost of net revenues	`CostOfRevenue`	$14.33M	USD	1 Quarter
Gross profit	`GrossProfit`	$36.04M	USD	1 Quarter
Gross profit	`GrossProfit`	$47.13M	USD	1 Quarter
Product and technology development	`TechnologyServicesCosts`	$5.16M	USD	1 Quarter
Product and technology development	`TechnologyServicesCosts`	$3.22M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$11.11M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$13.23M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$9.45M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.21M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$20.54M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$27.84M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$19.29M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$15.50M	USD	1 Quarter
Interest income and other financial gains	`InvestmentIncomeInterest`	$794.14K	USD	1 Quarter
Interest income and other financial gains	`InvestmentIncomeInterest`	$1.87M	USD	1 Quarter
Interest expense and other financial charges	`InterestExpenseAndOtherFinancialCharges`	$628.95K	USD	1 Quarter
Interest expense and other financial charges	`InterestExpenseAndOtherFinancialCharges`	$3.00M	USD	1 Quarter
Foreign currency gain / (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$-500.65K	USD	1 Quarter
Foreign currency gain / (loss)	`ForeignCurrencyTransactionGainBeforeTax`	$396.97K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$20.34K	USD	1 Quarter
Net income before income / asset tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.70M	USD	1 Quarter
Net income before income / asset tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.06M	USD	1 Quarter
Income / asset tax expense	`IncomeTaxExpenseBenefit`	$4.08M	USD	1 Quarter
Income / asset tax expense	`IncomeTaxExpenseBenefit`	$6.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$46.40M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$14.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.62M	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.22	USD	1 Quarter
Basic net income per common share	`EarningsPerShareBasic`	$0.32	USD	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	44.13M	shares	1 Quarter
Weighted average shares	`WeightedAverageNumberOfSharesOutstandingBasic`	44.11M	shares	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.22	USD	1 Quarter
Diluted net income per common share	`EarningsPerShareDiluted`	$0.32	USD	1 Quarter
Weighted average shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.15M	shares	1 Quarter
Weighted average shares	`WeightedAverageNumberOfDilutedSharesOutstanding`	44.15M	shares	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$46.40M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$14.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.62M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$946.87K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$1.54M	USD	1 Quarter
Accrued interest	`AccruedInterest`	$-575.61K	USD	1 Quarter
Accrued interest	`AccruedInterest`	$-228.15K	USD	1 Quarter
Stock-based compensation expense - stock options	`StockOptionPlanExpense`	$61.00	USD	1 Quarter
Stock-based compensation expense - restricted shares	`RestrictedStockExpense`	$21.20K	USD	1 Quarter
LTRP accrued compensation	`ShareBasedCompensation`	$324.61K	USD	1 Quarter
LTRP accrued compensation	`ShareBasedCompensation`	$1.17M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-407.53K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$316.87K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$3.02M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$378.62K	USD	1 Quarter
Funds receivable from customers	`IncreaseDecreaseInFundsReceivableFromCustomers`	$-441.40K	USD	1 Quarter
Funds receivable from customers	`IncreaseDecreaseInFundsReceivableFromCustomers`	$-479.32K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-71.64K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-58.01K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$70.09K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$92.88K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$3.84M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.74M	USD	1 Quarter
Funds payable to customers	`IncreaseDecreaseInFundsPayableToCustomers`	$418.07K	USD	1 Quarter
Funds payable to customers	`IncreaseDecreaseInFundsPayableToCustomers`	$3.07M	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$-467.62K	USD	1 Quarter
Other liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$220.11K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.17M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$11.45M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$99.07M	USD	1 Quarter
Purchase of investments	`PaymentsToAcquireInvestments`	$34.35M	USD	1 Quarter
Proceeds from sale and maturity of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$80.82M	USD	1 Quarter
Proceeds from sale and maturity of investments	`ProceedsFromSaleMaturityAndCollectionsOfInvestments`	$12.72M	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$73.41K	USD	1 Quarter
Purchases of intangible assets	`PaymentsToAcquireIntangibleAssets`	$12.87K	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.89M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.40M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.04M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-21.21M	USD	1 Quarter
Decrease in loans payable	`PaymentsOfLoanCosts`	$3.21M	USD	1 Quarter
Stock options exercised	`ProceedsFromStockOptionsExercised`	$1.97K	USD	1 Quarter
Stock options exercised	`ProceedsFromStockOptionsExercised`	$885.00	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$885.00	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.21M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$173.68K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-371.31K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.86M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-15.17M	USD	1 Quarter
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$34.63M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$50.97M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$49.80M	USD	Point-in-time
Cash and cash equivalents, beginning of the period	`CashAndCashEquivalentsAtCarryingValue`	$56.83M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$34.63M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$50.97M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$49.80M	USD	Point-in-time
Cash and cash equivalents, end of the period	`CashAndCashEquivalentsAtCarryingValue`	$56.83M	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$2.83M	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$13.89K	USD	1 Quarter
Cash paid for income and asset taxes	`IncomeTaxesPaid`	$7.90M	USD	1 Quarter
Cash paid for income and asset taxes	`IncomeTaxesPaid`	$4.94M	USD	1 Quarter

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$123.25M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$183.11M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$114.19M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$171.72M	USD	Point-in-time
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$16.23K	USD	3 Qtrs
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$885.00	USD	1 Quarter
Stock options exercised	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.97K	USD	1 Quarter
Stock-based compensation - stock options	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$183.00	USD	3 Qtrs
Stock-based compensation - stock options	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$61.00	USD	1 Quarter
Stock-based compensation - restricted shares	`StockBasedCompensationRestrictedShares`	$16.49K	USD	3 Qtrs
Stock-based compensation - restricted shares	`StockBasedCompensationRestrictedShares`	$21.20K	USD	1 Quarter
Stock-based compensation LTRP	`StockBasedCompensationLtrp`	$39.30K	USD	1 Quarter
Stock-based compensation LTRP	`StockBasedCompensationLtrp`	$33.71K	USD	1 Quarter
Stock-based compensation LTRP	`StockBasedCompensationLtrp`	$38.19K	USD	3 Qtrs
Dividend distribution	`DividendsCommonStockCash`	$3.53M	USD	1 Quarter
Net income	`NetIncomeLoss`	$46.40M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$14.06M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.62M	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$1.92M	USD	3 Qtrs
Currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$-566.88K	USD	1 Quarter
Currency translation adjustment	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease`	$888.87K	USD	1 Quarter
Unrealized net gain (loss) on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-35.15K	USD	1 Quarter
Unrealized net gain (loss) on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-18.20K	USD	1 Quarter
Unrealized net gain (loss) on investments	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$80.68K	USD	3 Qtrs
Realized net gains on investments	`RealizedNetGainOnInvestments`	$-27.63K	USD	1 Quarter
Realized net gains on investments	`RealizedNetGainOnInvestments`	$-45.53K	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$123.25M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$183.11M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$114.19M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$171.72M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.