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Harris Interactive Inc. (HPOL) filed Quarterly Report for the period ended 2011-09-30.
Harris Interactive Inc. has a market cap of $39.97 million; its shares were traded at around $0.73 with and P/S ratio of 0.24.
This is the annual revenues and earnings per share of HPOL over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of HPOL.
Highlight of Business Operations:
Our credit facilities under our amended and restated credit agreement consist of our previously existing term loan, which matures September 30, 2013, and a revolving line of credit. A maximum amount of $5,000 remains available under the revolving line of credit, subject to our satisfaction of certain conditions. Until we achieve trailing twelve month adjusted EBITDA of $5,000, borrowings under the revolving line of credit are limited to the lesser of $2,000 or our net U.S. accounts receivable, defined as our U.S. accounts receivable plus our U.S. unbilled accounts receivable, less our deferred revenue. The amendment and waiver did not change the principal amount outstanding under, or the payment terms of, the term loan. Pursuant to the amendment and waiver, the manner in which outstanding amounts accrue interest remains unchanged, except that the Eurodollar Applicable Rate (Adjusted LIBO Applicable Rate) and ABR Applicable Rate are fixed at 5.50% and 4.50%, respectively, through March 31, 2012.Revenue from services. Revenue from services increased by $1,247, or 3.4%, to $38,262 for the three months ended September 30, 2011 compared with the same prior year period. Excluding foreign currency exchange rate differences, revenue from services increased by 1.0% compared with the same prior year period. As more fully described below, revenue from services was impacted by several factors.
Selling, general and administrative. Selling, general and administrative expense for the three months ended September 30, 2011 was $11,985 or 31.3% of total revenue, compared with $12,564 or 33.9% of total revenue for the same prior year period. Selling, general and administrative expense was principally impacted by the following:
Interest expense. Interest expense was $242 or 0.6% of total revenue for the three months ended September 30, 2010, compared with $470 or 1.3% of total revenue for the same prior year period. The decrease in interest expense for the three months ended September 30, 2011 compared with the same prior year period reflects the impact of the decline in our outstanding debt as we continue to make required principal payments.
Secured revenue for the three months ended September 30, 2011 was $39.0 million, a decrease of 9.9% compared with $43.3 million for the same prior year period. Excluding foreign exchange rate differences, secured revenue was down 9.7% over the same prior year period. The decrease in secured revenue was mainly impacted by the revenue increase and bookings decline in the quarter discussed above.
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