SoundBite Communications Inc. (SDBT, Financial) filed Quarterly Report for the period ended 2010-09-30.
Soundbite Communications Inc. has a market cap of $45.6 million; its shares were traded at around $2.7501 with and P/S ratio of 1.1.
The $734,000 decrease in revenues for the three months ended September 30, 2010 as compared to the same period in 2009 reflected a decrease in voice revenues of $1.6 million, which was partially offset by an increase in non-voice revenues of $886,000. The decrease in voice revenues was mainly due to lower calling volume in the retail vertical market due to a special campaign by one of our customers during the third quarter of 2009. Revenues from clients from which we derived revenue in both periods decreased $1.0 million, which was partially offset by revenues from new clients of $299,000.
The $241,000 decrease in cost of revenues for the three months ended September 30, 2010 as compared to the same period in 2009 reflected decreased telephony expense of $194,000 due to lower client usage, a $137,000 decrease in depreciation expense due to a lower depreciable base of our property and equipment infrastructure, as well as a $131,000 decrease in telephony expense related to lower delivery and circuit costs. These decreases were partially offset by a $149,000 increase in text and email costs and a $47,000 increase in personnel and consulting costs. The decrease in gross margin for the three months ended September 30, 2010 as compared to the same period in 2009 reflected lower price structure agreements entered into with some of our clients, as well as the vertical market and services mix.
Research and Development. The $99,000 increase in research and development expenses for the three months ended September 30, 2010 as compared to the same period in 2009 was primarily attributable to an $80,000 increase in personnel related costs. Not included in the table above, we also capitalized $192,000 of external research and development costs to intangible assets for the development of internal use software during the three month period ended September 30, 2010 compared to $0 during the three month period ended September 30, 2009.
The $227,000 decrease in revenues for the nine months ended September 30, 2010 as compared to the same period in 2009 reflected a decrease in voice revenues of $2.7 million, which was partially offset by an increase in non-voice revenues of $2.5 million. The decrease in voice revenues was mainly due to lower calling volume in the large business to consumer market. Revenues from clients from which we derived revenue in both periods decreased $769,000, which was partially offset by revenues from new clients of $542,000.
The $168,000 increase in cost of revenues for the nine months ended September 30, 2010 as compared to the same period in 2009 reflected a $846,000 increase in text and email costs, as well as increased telephony expense of $242,000 due to higher client usage, increased equipment related costs of $122,000, and increased co-location costs of $72,000. These increases were partially offset by a $719,000 decrease in telephony expense related to lower delivery and circuit costs and a $413,000 decrease in depreciation expense due to a lower depreciable base of our property and equipment infrastructure. The decrease in gross margin for the nine months ended September 30, 2010 as compared to the same period in 2009 reflected lower price structure agreements entered into with some of our clients, as well as the vertical market and services mix.
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Soundbite Communications Inc. has a market cap of $45.6 million; its shares were traded at around $2.7501 with and P/S ratio of 1.1.
Highlight of Business Operations:
Our operating activities generated net cash in the amount of $711,000 for the nine months ended September 30, 2010 reflecting a net loss of $3.4 million, which was offset by non-cash charges and changes in working capital of $4.1 million consisting primarily of (a) depreciation expense of $1.5 million, (b) stock-based compensation expense of $1.0 million, (c) an increase in accrued expenses and accounts payable of $976,000 due to the timing of payments, and (d) a decrease in accounts receivable, prepaid expenses and other assets of $515,000 due to the timing of receipts from our clients and the advance payments of certain operating costs.The $734,000 decrease in revenues for the three months ended September 30, 2010 as compared to the same period in 2009 reflected a decrease in voice revenues of $1.6 million, which was partially offset by an increase in non-voice revenues of $886,000. The decrease in voice revenues was mainly due to lower calling volume in the retail vertical market due to a special campaign by one of our customers during the third quarter of 2009. Revenues from clients from which we derived revenue in both periods decreased $1.0 million, which was partially offset by revenues from new clients of $299,000.
The $241,000 decrease in cost of revenues for the three months ended September 30, 2010 as compared to the same period in 2009 reflected decreased telephony expense of $194,000 due to lower client usage, a $137,000 decrease in depreciation expense due to a lower depreciable base of our property and equipment infrastructure, as well as a $131,000 decrease in telephony expense related to lower delivery and circuit costs. These decreases were partially offset by a $149,000 increase in text and email costs and a $47,000 increase in personnel and consulting costs. The decrease in gross margin for the three months ended September 30, 2010 as compared to the same period in 2009 reflected lower price structure agreements entered into with some of our clients, as well as the vertical market and services mix.
Research and Development. The $99,000 increase in research and development expenses for the three months ended September 30, 2010 as compared to the same period in 2009 was primarily attributable to an $80,000 increase in personnel related costs. Not included in the table above, we also capitalized $192,000 of external research and development costs to intangible assets for the development of internal use software during the three month period ended September 30, 2010 compared to $0 during the three month period ended September 30, 2009.
The $227,000 decrease in revenues for the nine months ended September 30, 2010 as compared to the same period in 2009 reflected a decrease in voice revenues of $2.7 million, which was partially offset by an increase in non-voice revenues of $2.5 million. The decrease in voice revenues was mainly due to lower calling volume in the large business to consumer market. Revenues from clients from which we derived revenue in both periods decreased $769,000, which was partially offset by revenues from new clients of $542,000.
The $168,000 increase in cost of revenues for the nine months ended September 30, 2010 as compared to the same period in 2009 reflected a $846,000 increase in text and email costs, as well as increased telephony expense of $242,000 due to higher client usage, increased equipment related costs of $122,000, and increased co-location costs of $72,000. These increases were partially offset by a $719,000 decrease in telephony expense related to lower delivery and circuit costs and a $413,000 decrease in depreciation expense due to a lower depreciable base of our property and equipment infrastructure. The decrease in gross margin for the nine months ended September 30, 2010 as compared to the same period in 2009 reflected lower price structure agreements entered into with some of our clients, as well as the vertical market and services mix.
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