Arc Wireless Solutions Inc. (ARCW, Financial) filed Quarterly Report for the period ended 2010-06-30.
Arc Wireless Solutions Inc. has a market cap of $7.9 million; its shares were traded at around $2.56 with and P/S ratio of 1.8.
Net interest expense decreased from $6 thousand for the three months ended June 30, 2009 to approximately $1 thousand for the current quarterly period primarily related to lease payments made during the current year period.
Other income decreased during the second quarter 2010 to approximately $12 thousand as compared to $15 thousand in the second quarter 2009. The decline is primarily due to decreased interest income as a result of the decline in our cash balances in addition to a decline in interest rates on money market funds where a significant portion of the funds are invested.
Selling, general and administrative expenses (SG&A) decreased 11% to $1.1 million in the first half of 2010 as compared to $1.3 million in the prior year period. SG&A as a percent of total revenues was unchanged at 55% for both the six months ended June 30, 2010 and 2009. Salaries and wages, including commissions, remains the largest component of SG&A costs, constituting 29% of the total SG&A costs for the six months ended June 30, 2010 and 34% for the six months ended June 30, 2009. The majority of the overall decrease in SG&A is related to decreased personnel and salary costs as compared to the prior year period, but we are continuing our efforts to streamline our operations and reduce our office costs, public company and other administrative expenses.
Net interest expense decreased from $9 thousand for the six months ended June 30, 2009 to approximately $2 thousand for the current year period primarily related to decreased amounts outstanding during the period under our Credit Facility with Citywide Bank and no capital lease payments made in the current year period. At June 30, 2010 and 2009, we had no debt outstanding. Our Credit Facility expired on May 1, 2009 and is no longer outstanding.
Other income decreased during the first half 2010 to approximately $23 thousand as compared to $48 thousand in first half of 2009. The decline in interest income is primarily due to a decline in our cash balances along with a decline in interest rates on money market funds where a significant portion of the funds are invested.
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Arc Wireless Solutions Inc. has a market cap of $7.9 million; its shares were traded at around $2.56 with and P/S ratio of 1.8.
Highlight of Business Operations:
At June 30, 2010, we had approximately $11.8 million in working capital, which represents a decrease of approximately $400 thousand from working capital at December 31, 2009 of $12.2 million.Net interest expense decreased from $6 thousand for the three months ended June 30, 2009 to approximately $1 thousand for the current quarterly period primarily related to lease payments made during the current year period.
Other income decreased during the second quarter 2010 to approximately $12 thousand as compared to $15 thousand in the second quarter 2009. The decline is primarily due to decreased interest income as a result of the decline in our cash balances in addition to a decline in interest rates on money market funds where a significant portion of the funds are invested.
Selling, general and administrative expenses (SG&A) decreased 11% to $1.1 million in the first half of 2010 as compared to $1.3 million in the prior year period. SG&A as a percent of total revenues was unchanged at 55% for both the six months ended June 30, 2010 and 2009. Salaries and wages, including commissions, remains the largest component of SG&A costs, constituting 29% of the total SG&A costs for the six months ended June 30, 2010 and 34% for the six months ended June 30, 2009. The majority of the overall decrease in SG&A is related to decreased personnel and salary costs as compared to the prior year period, but we are continuing our efforts to streamline our operations and reduce our office costs, public company and other administrative expenses.
Net interest expense decreased from $9 thousand for the six months ended June 30, 2009 to approximately $2 thousand for the current year period primarily related to decreased amounts outstanding during the period under our Credit Facility with Citywide Bank and no capital lease payments made in the current year period. At June 30, 2010 and 2009, we had no debt outstanding. Our Credit Facility expired on May 1, 2009 and is no longer outstanding.
Other income decreased during the first half 2010 to approximately $23 thousand as compared to $48 thousand in first half of 2009. The decline in interest income is primarily due to a decline in our cash balances along with a decline in interest rates on money market funds where a significant portion of the funds are invested.
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