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Selectica Inc. has a market cap of $13.36 million; its shares were traded at around $4.75 with and P/S ratio of 0.88. SLTC is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:For the three months ended September 30, 2010, our revenues were approximately $3.1 million with license revenues representing 10% and services revenues representing 90% of total revenues. In addition, approximately 33% of our quarterly revenues came from three customers. License margins for the quarter were 89% and services margins were 56%. Net loss for the quarter was approximately $(0.6) million or $(0.22) per share. For the three months ended September 30, 2009, our revenues were approximately $3.7 million with license revenues representing 26% and services revenues representing 74% of total revenues. In addition, approximately 40% of our quarterly revenues came from three customers. License margins for the quarter were 96% and services margins were 54%. Net loss for the quarter was approximately $(1.1) million or $(0.39) per share.
Services. Services revenues are comprised of fees from consulting, maintenance, hosting, training, subscription revenues and out-of-pocket reimbursements. During the three months ended September 30, 2010, services revenues remained flat compared to the three months ended September 30, 2009. During the six months ended September 30, 2010, services revenues increased $0.2 million compared to the six months ended September 30, 2009 primarily due to an increase in maintenance revenues resulting from new customers and annual increases in maintenance renewals. Maintenance revenues represented 54% and 52% of total services revenues for the three months ended September 30, 2010 and September 30, 2009, respectively, and 54% and 52% of total services revenues for the six months ended September 30, 2010 and September 30, 2009, respectively.
Cost of Services Revenues. Cost of services revenues is comprised mainly of salaries and related expenses of our services organization, our data center costs, plus certain allocated expenses. During the three and six months ended September 30, 2010, these costs decreased 3% and 9%, respectively, compared to the same periods in 2009 primarily due to reductions in the use of outside contractors.
Gross Margin — Services. During the three and six months ending September 30, 2010, gross margins from services improved to 56% and 58%, respectively, as compared to 54% and 52%, respectively, for the three and six months ending September 30, 2009. These improvements were primarily due to higher maintenance revenues resulting from new customers and annual increases in maintenance renewals, as well as reductions in the use of outside contractors.
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