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Internet Capital Group Inc. (ICGE) filed Quarterly Report for the period ended 2011-09-30.
Icg Group Inc. has a market cap of $299.8 million; its shares were traded at around $8.11 with a P/E ratio of 31.2 and P/S ratio of 2.6.
This is the annual revenues and earnings per share of ICGE over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ICGE.
Highlight of Business Operations:
The decrease in cash flows provided by investing activities primarily relates to an increase in cash paid for acquisitions in 2011 of approximately $9.9 million and the absence of proceeds from sales of marketable securities in the 2011 period, which amounted to $74.4 million in the nine-month period ended September 30, 2010. These changes were partially offset by the $53.3 million of proceeds from the sale of Metastorm and other distributions received in 2011 compared to $1.8 million of proceeds from the sale of former equity ownership interests that were received in the 2010 period.The increase in revenue in both the three- and nine-month periods ended September 30, 2011 is due to revenue growth at all three of our consolidated subsidiaries arising from new customers and increased business with existing customers compared to the three- and nine-month periods ended September 30, 2010. The largest contributor of this revenue growth was at ICG Commerce, which experienced 14% and 23% higher revenues in the three and nine months ended September 30, 2011, respectively, than in the comparable 2010 periods. Revenue growth at ICG Commerce was lower than originally expected due to delays in contract signings in the three-month period ended September 30, 2011. In addition, purchase price adjustments decreasing revenue at GovDelivery for deferred revenue limitations (which amounted to $0.4 million and $1.9 million for the three and nine months ended September 30, 2010, respectively) related to, and were recorded during, 2010 only.
On August 31, 2010, GovDelivery sold its GovDocs subsidiary for aggregate consideration of $1.8 million. GovDocs had revenue of $0.1 million and net income, including purchase price adjustments and intangible amortization, of less then $0.1 million, for the period from July 1, 2010 through August 31, 2010. GovDoc’s revenue and net income, including purchase price adjustments and intangible amortization, was $1.4 million and $0.2 million, respectively, for the period from January 1, 2010 through September 30, 2010. Prior to the sale, these results had been included in our core segment. Additionally, a gain on the sale of GovDocs in the amount of $0.6 million was recognized during the three and nine months ended September 30, 2010. GovDocs’ revenue and operating results from those periods have been separated from continuing operations and are presented, along with the gain on the sale, in the single line item “Income (loss) from discontinued operations,” in our Consolidated Statements of Operations; these net results are included in “Dispositions” in the “Results of Operations” segment information table for the three and nine months ended September 30, 2010.
The other income recognized during the three months ended September 30, 2011 relates to a final distribution of proceeds of a former equity method company. The other income recognized during the three months ended September 30, 2010 primarily consists of gains on the sales of Blackboard common stock.
The other income recognized during the nine months ended September 30, 2011 primarily relates to the sale of Metastorm. The other income recognized during the nine months ended September 30, 2010 primarily relates to sales of marketable securities, mostly Blackboard common stock.
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