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Forum List » Business News and Headlines SEC Filings, Earing Reports, Press Releases
SOLERA HOLDINGS INC Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: February 9, 2013 12:36AM
SOLERA HOLDINGS INC (SLH) filed Quarterly Report for the period ended 2012-12-31. Highlight of Business Operations:Our EMEA revenues increased $0.9 million, or 0.8%, to $117.2 million. After adjusting for changes in foreign currency exchange rates, EMEA revenues increased $3.8 million, or 3.2%, during the three months ended December 31, 2012 resulting from growth in transaction revenues in several countries from sales to new customers and increased transaction volume from and sales of new software and services to existing customers, and incremental revenue contributions from immaterial acquisitions.Our Americas revenues increased $13.2 million, or 16.8%, to $92.0 million. After adjusting for changes in foreign currency exchange rates, Americas revenues increased $13.8 million, or 17.5%, during the three months ended December 31, 2012 resulting from incremental revenue contributions from immaterial acquisitions, revenue growth in our AudaExplore business primarily due to an increase in drivers and households monitored, and growth in transaction and subscription revenues from sales to new customers and increased transaction volume from and sales of new software and services to existing customers. Our EMEA revenues decreased $7.6 million, or 3.2%, to $227.3 million. After adjusting for changes in foreign currency exchange rates, EMEA revenues increased $7.2 million, or 3.1%, during the six months ended December 31, 2012 resulting from growth in transaction revenues in several countries from sales to new customers and increased transaction volume from and sales of new software and services to existing customers, and incremental revenue contributions from immaterial acquisitions. Our Americas revenues increased $18.7 million, or 11.8%, to $177.7 million. After adjusting for changes in foreign currency exchange rates, Americas revenues increased $22.0 million, or 13.8%, during the six months ended December 31, 2012 resulting from incremental revenue contributions from immaterial acquisitions, revenue growth in our AudaExplore business due to an increase in drivers and households monitored, and growth in transaction and subscription revenues from sales to new customers and increased transaction volume from and sales of new software and services to existing customers. Six Months Ended December 31, 2012 vs. Six Months Ended December 31, 2011. During the six months ended December 31, 2012, SG&A increased $8.5 million, or 8.5%. After adjusting for changes in foreign currency exchange rates, SG&A increased $12.6 million, or 12.5%, primarily due to a $3.4 million increase in personnel, travel and recruiting expenses in our Corporate function to support continued organizational growth, a $3.0 million increase in stock-based compensation expense, incremental SG&A contributions from immaterial acquisitions of $2.7 million, a $1.0 million increase in advertising and marketing expenses and $1.0 million of legal fees incurred in connection with our patent infringement lawsuit against Mitchell. The remaining increase is primarily due to the continued growth of our business, particularly in evolving and emerging markets. As a percentage of revenues, SG&A, excluding stock-based compensation expense and legal fees incurred in connection with our patent infringement lawsuit against Mitchell, remained fairly consistent for the six months ended December 31, 2012 as compared to the six months ended December 31, 2011.
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