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SS&C Technologies Holdings Inc. (SSNC) filed Quarterly Report for the period ended 2011-09-30.
Ss&c Technologies Holdings Inc. has a market cap of $1.24 billion; its shares were traded at around $16.29 with a P/E ratio of 17.1 and P/S ratio of 3.8.
This is the annual revenues and earnings per share of SSNC over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of SSNC.
Highlight of Business Operations:
Total cost of revenues was $46.5 million and $42.3 million for the three months ended September 30, 2011 and 2010, respectively. The gross margin was 51% for the three months ended September 30, 2011 compared to 49% for the comparable period in 2010. Our costs of revenues increased by $4.2 million, or 10%, primarily as a result of an increase of $1.8 million in costs to support organic revenue growth, our acquisitions, which added cost of revenues of $1.3 million in the aggregate, an increase in costs of $0.6 million related to the unfavorable effect of foreign currency translation and an increase in amortization expense of $0.6 million, partially offset by a decrease in stock-based compensation expense of $0.1 million. Total cost of revenues was $136.6 million and $122.4 million for the nine months ended September 30, 2011 and 2010, respectively. The gross margin was 50% for each of the nine months ended September 30, 2011 and 2010. Our costs of revenues increased by $14.2 million, or 12%, primarily as a result of an increase of $7.1 million in costs to support organic revenue growth, our acquisitions, which added cost of revenues of $4.1 million in the aggregate, an increase in costs of $1.9 million related to the unfavorable effect of foreign currency translation and an increase in amortization expense of $1.3 million, partially offset by a decrease in stock-based compensation expense of $0.2 million.Cost of Maintenance. Cost of maintenance revenues consists primarily of technical client support, costs associated with the distribution of products and regulatory updates and amortization of intangible assets. The cost of maintenance revenues was $8.7 million and $8.2 million for the three months ended September 30, 2011 and 2010, respectively. The increase in cost of maintenance revenues of $0.5 million, or 6%, was primarily due to additional amortization expense of $0.4 million, our acquisitions, which added $0.2 million in costs in the aggregate, and an increase in costs of $0.1 million related to foreign currency translation, partially offset by a decrease in of $0.2 million in costs to support organic revenues. Cost of maintenance revenues as a percentage of such revenues was 45% for each of the three-month periods ended September 30, 2011 and 2010. The cost of maintenance revenues was $26.2 million and $24.3 million for the nine months ended September 30, 2011 and 2010, respectively. The increase in cost of maintenance revenues of $1.9 million, or 8%, was primarily due to additional amortization expense of $1.1 million, our acquisitions, which added $0.7 million in costs in the aggregate, and an increase in costs of $0.3 million related to foreign currency translation, partially offset by a decrease of $0.2 million in costs to support organic revenues. Cost of maintenance revenues as a percentage of such revenues was 45% for each of the nine-month periods ended September 30, 2011 and 2010.
Cost of Software-Enabled Services. Cost of software-enabled services revenues consists primarily of the cost related to personnel utilized in servicing our software-enabled services clients and amortization of intangible assets. The cost of software-enabled services revenues was $32.1 million and $28.6 million for the three months ended September 30, 2011 and 2010, respectively. The increase in costs of software-enabled services revenues of $3.5 million, or 13%, was primarily related to an increase of $1.9 million in costs to support the growth of organic software-enabled services revenues, our acquisitions, which added $0.9 million in costs in the aggregate, an increase in costs of $0.4 million related to foreign currency translation and an increase in costs of $0.4 million related to amortization expense, partially offset by a decrease in stock-based compensation expense of $0.1 million. Cost of software-enabled services revenues as a percentage of such revenues was 51% for the three months ended September 30, 2011 compared to 53% for the three months ended September 30, 2010. The cost of software-enabled services revenues was $93.9 million and $82.1 million for the nine months ended September 30, 2011 and 2010, respectively. The increase in costs of software-enabled services revenues of $11.8 million, or 14%, was primarily related to an increase of $7.1 million in costs to support the growth of organic software-enabled services revenues, our acquisitions, which added $2.7 million in costs in the aggregate, an increase in costs of $1.3 million related to foreign currency translation and an increase in costs of $0.8 million related to amortization expense, partially offset by a decrease in stock-based compensation expense of $0.1 million. Cost of software-enabled services revenues as a percentage of such revenues was 51% for the nine months ended September 30, 2011 compared to 53% for the nine months ended September 30, 2010.
Total operating expenses were $23.8 million and $21.1 million for the three months ended September 30, 2011 and 2010, respectively. The increase in total operating expenses of $2.7 million, or 13%, was primarily due to our acquisitions of TOS, TSW, BXML and Ireland Fund Admin, which added $1.6 million in costs in the aggregate, an increase in costs of $0.3 million related to foreign currency translation and an increase in costs of $0.8 million to support organic revenue growth. Total operating expenses as a percentage of total revenues were 25% for each of the three-month periods ended September 30, 2011 and 2010. Total operating expenses were $68.4 million and $61.6 million for the nine months ended September 30, 2011 and 2010, respectively. The increase in total operating expenses of $6.8 million, or 11%, was primarily due to our acquisitions of GIPS, TOS, TSW, BXML and Ireland Fund Admin, which added $4.7 million in costs in the aggregate, an increase in costs of $1.0 million related to foreign currency translation, an increase in costs of $0.9 million to support organic revenue growth and an increase in costs of $0.2 million related to stock-based compensation. Total operating expenses as a percentage of total revenues were 25% for each of the nine-month periods ended September 30, 2011 and September 30, 2010.
Selling and Marketing. Selling and marketing expenses consist primarily of the personnel costs associated with the selling and marketing of our products, including salaries, commissions and travel and entertainment. Such expenses also include amortization of intangible assets, the cost of branch sales offices, trade shows and marketing and promotional materials. Selling and marketing expenses were $7.3 million and $6.3 million for the three months ended September 30, 2011 and 2010, respectively, representing 8% of total revenues in each of those periods. The increase in selling and marketing expenses of $1.0 million, or 16%, was primarily related to an increase in costs of $0.5 million to support organic revenue growth, our acquisitions, which added $0.4 million in costs, and an increase in costs of $0.1 million related to foreign currency translation. Selling and marketing expenses were $21.2 million and $18.9 million for the nine months ended September 30, 2011 and 2010, respectively, representing 8% of total revenues in each of those periods. The increase in selling and marketing expenses of $2.3 million, or 12%, was primarily related to our acquisitions, which added $1.3 million in costs, an increase in costs of $0.5 million to support organic revenue growth, an increase in costs of $0.4 million related to foreign currency translation and an increase in costs of $0.1 million related to amortization expense.
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