SPAR Group Inc. (SGRP, Financial) filed Quarterly Report for the period ended 2010-08-11.
Spar Group Inc. has a market cap of $19.14 million; its shares were traded at around $1 with a P/E ratio of 16.67 and P/S ratio of 0.33.
Domestic net revenues totaled $9.9 million in the three months ended June 30, 2010, compared to $6.8 million for the same period in 2009. The increase in domestic revenue of $3.1 million was mainly a result of continued organic growth in the Company s core businesses along with the full integration of the December 2009 acquisition of the National Marketing Services (“NMS”) in store and in home furniture and other product assembly business.
International net revenues totaled $5.7 million for the three months ended June 30, 2010, compared to $6.7 million for the same period in 2009, a decrease of $1.0 million or 15.4%. The primary reasons for the decrease in 2010 international net revenues as compared to 2009 was the loss of sales promotion business resulting from the change in ownership in the Japan subsidiary.
Domestic selling, general and administrative expenses totaled $2.2 million for the three months ended June 30, 2010, compared to $1.9 million for the same period in 2009. The increase in domestic selling, general and administrative expenses of approximately $300,000 was primarily due to the incremental spending required to support the acquisition of National Marketing Services.
The income tax provision for the three months ended June 30, 2010 was $17,000 resulting primarily from domestic state taxes of $15,000 and $2,000 for tax provisions related to certain international profits for the three months ended June 30, 2010. There were no tax provisions for federal tax as the Company provides a valuation allowance against any deferred benefits arising from operating loss carry forwards. Income tax provision for the three months ended June 30, 2009, was $73,000 resulting primarily from tax provisions related to international profits.
The Company reported a net income of $603,000 for the three months ended June 30, 2010, or $0.03 per share, compared to a net income of $150,000, or $0.01 per share, for the corresponding period last year.
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Spar Group Inc. has a market cap of $19.14 million; its shares were traded at around $1 with a P/E ratio of 16.67 and P/S ratio of 0.33.
Highlight of Business Operations:
Net revenues for the three months ended June 30, 2010, were $15.6 million, compared to $13.5 million for the three months ended June 30, 2009, an increase of $2.1 million or 15.8%.Domestic net revenues totaled $9.9 million in the three months ended June 30, 2010, compared to $6.8 million for the same period in 2009. The increase in domestic revenue of $3.1 million was mainly a result of continued organic growth in the Company s core businesses along with the full integration of the December 2009 acquisition of the National Marketing Services (“NMS”) in store and in home furniture and other product assembly business.
International net revenues totaled $5.7 million for the three months ended June 30, 2010, compared to $6.7 million for the same period in 2009, a decrease of $1.0 million or 15.4%. The primary reasons for the decrease in 2010 international net revenues as compared to 2009 was the loss of sales promotion business resulting from the change in ownership in the Japan subsidiary.
Domestic selling, general and administrative expenses totaled $2.2 million for the three months ended June 30, 2010, compared to $1.9 million for the same period in 2009. The increase in domestic selling, general and administrative expenses of approximately $300,000 was primarily due to the incremental spending required to support the acquisition of National Marketing Services.
The income tax provision for the three months ended June 30, 2010 was $17,000 resulting primarily from domestic state taxes of $15,000 and $2,000 for tax provisions related to certain international profits for the three months ended June 30, 2010. There were no tax provisions for federal tax as the Company provides a valuation allowance against any deferred benefits arising from operating loss carry forwards. Income tax provision for the three months ended June 30, 2009, was $73,000 resulting primarily from tax provisions related to international profits.
The Company reported a net income of $603,000 for the three months ended June 30, 2010, or $0.03 per share, compared to a net income of $150,000, or $0.01 per share, for the corresponding period last year.
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