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SOLERA HOLDINGS INC Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: November 7, 2011 06:21AM

SOLERA HOLDINGS INC (SLH) filed Quarterly Report for the period ended 2011-09-30. Solera Holdings has a market cap of $3.8 billion; its shares were traded at around $53.77 with a P/E ratio of 22.69 and P/S ratio of 5.55. The dividend yield of Solera Holdings stocks is 0.74%. Solera Holdings had an annual average earning growth of 10.9% over the past 5 years.



Highlight of Business Operations:

Foreign currency. During the three months ended September 30, 2011 and 2010, we generated approximately 71% and 78%, respectively, of our revenues and incurred a majority of our costs, in currencies other than the U.S. dollar, primarily the Euro. We translate our local currency financial results into U.S. dollars based on average exchange rates prevailing during a reporting period for our statement of income and certain components of stockholders’ equity and the exchange rate at the end of that period for the balance sheet. These translations resulted in a net foreign currency translation adjustment of $(34.8) million and $48.3 million for the three months ended September 30, 2011 and 2010, respectively, which are recorded as a component of accumulated other comprehensive income (loss) in stockholders’ equity. Foreign currency transaction gains (losses) recognized in our consolidated statements of income were $(0.1) million and $0.3 million during the three months ended September 30, 2011 and 2010, respectively.

During the three months ended September 30, 2011, revenues increased $39.8 million, or 25.0%, and include revenues from Explore of $21.2 million. After adjusting for changes in foreign currency exchange rates and excluding revenues from Explore, revenues increased $8.2 million, or 5.1%, during the three months ended September 30, 2011 resulting from growth in transaction and subscription revenues in several countries from sales to new customers and increased transaction volume from and sales of new software and services to existing customers.

Our EMEA revenues increased $14.6 million, or 14.0%, to $118.6 million. After adjusting for changes in foreign currency exchange rates, EMEA revenues increased $5.6 million, or 5.3%, during the three months ended September 30, 2011 resulting from transaction and subscription revenues in several countries from sales to new customers and increased transaction volume from and sales of new software and services to existing customers.

Our Americas revenues increased $25.2 million, or 45.9%, to $80.1 million and include revenues from Explore of $21.2 million. After adjusting for changes in foreign currency exchange rates and excluding revenues from Explore, Americas revenues increased $2.6 million, or 4.8%, during the three months ended September 30, 2011 resulting from growth in transaction and subscription revenues in several countries from sales to new customers and increased transaction volume from and sales of new software and services to existing customers.

Our EMEA operating expenses increased $3.2 million, or 15.9%. After adjusting for changes in foreign currency exchange rates, EMEA operating expenses increased $0.8 million, or 3.9%, during the three months ended September 30, 2011 primarily due to increased revenue which caused increases in third party license fees of $0.5 million and equipment expenses of $0.3 million.

Read the The complete Report



Stocks Discussed: SLH,
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