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SOLERA HOLDINGS INC Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: May 10, 2012 06:17AM

SOLERA HOLDINGS INC (SLH) filed Quarterly Report for the period ended 2012-03-31. Solera Holdings has a market cap of $3.22 billion; its shares were traded at around $44.65 with a P/E ratio of 19.1 and P/S ratio of 4.7. The dividend yield of Solera Holdings stocks is 0.9%. Solera Holdings had an annual average earning growth of 10.9% over the past 5 years.



Highlight of Business Operations:

Foreign currency. During each of the three and nine months ended March 31, 2012, we generated approximately 70% of our revenues and incurred a majority of our costs, in currencies other than the U.S. dollar, primarily the Euro, as compared to approximately 79% during each of the three and nine months ended March 31, 2011. 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 net foreign currency translation adjustments of $19.7 million and $(39.2) million for the three and nine months ended March 31, 2012, respectively, and $32.7 million and $67.5 million during the three and nine months ended March 31, 2011, respectively, which are recorded as a component of accumulated other comprehensive income (loss) in stockholders equity. Foreign currency transaction income (losses) recognized in our consolidated statements of income were $(0.5) million and $(0.7) million during the three and nine months ended March 31, 2012, respectively, and $2.7 million and $(0.9) million during the three and nine months ended March 31, 2011, respectively.

Three Months Ended March 31, 2012 vs. Three Months Ended March 31, 2011. During the three months ended March 31, 2012, revenues increased $22.5 million, or 12.8%, and include revenues from Explore of $23.2 million. After adjusting for changes in foreign currency exchange rates and excluding revenues from Explore, revenues increased $5.2 million, or 3.0%, during the three months ended March 31, 2012 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 Americas revenues increased $24.2 million, or 41.5%, to $82.6 million and include revenues from Explore of $23.2 million. After adjusting for changes in foreign currency exchange rates and excluding revenues from Explore, Americas revenues increased $2.0 million, or 3.5%, during the three months ended March 31, 2012 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 Americas revenues increased $72.5 million, or 42.9%, to $241.5 million and include revenues from Explore of $65.7 million. After adjusting for changes in foreign currency exchange rates and excluding revenues from Explore, Americas revenues increased $7.4 million, or 4.4%, during the nine months ended March 31, 2012 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 $1.5 million, or 2.3%. After adjusting for changes in foreign currency exchange rates, EMEA operating expenses decreased $0.4 million, or 0.6%, during the nine months ended March 31, 2012 primarily due to a decrease in personnel and related expenses of $1.3 million, offset by an increase in third party license fees and other costs of sales of $1.0 million, resulting from the increase in EMEA revenues.

Read the The complete Report



Stocks Discussed: SLH,
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