Pervasive Software Inc. (PVSW, Financial) filed Quarterly Report for the period ended 2011-12-31.
Pervasive Software Inc. has a market cap of $92.4 million; its shares were traded at around $5.84 with a P/E ratio of 38.7 and P/S ratio of 1.9. Pervasive Software Inc. had an annual average earning growth of 32% over the past 5 years.
International revenues, consisting of all revenues from customers located outside of North America, were $4.0 million and $3.8 million in the three months ended December 31, 2011 and 2010, respectively, representing 34% and 33% of total revenues, respectively. International revenues were $9.2 million and $7.9 million in the six months ended December 31, 2011 and 2010, representing 39% and 35% of total revenues, respectively. We expect that international revenues will continue to account for a significant portion of our revenues in the future.
Sales and Marketing. Sales and marketing expenses consist primarily of salaries, commissions and bonuses earned by sales and marketing personnel, foreign sales office expense, marketing programs and promotional expense, and travel and entertainment. Sales and marketing expenses were $4.9 million and $5.3 million in the three-month periods ended December 31, 2011 and 2010, respectively, representing 41% and 46% of total revenues, respectively. Sales and marketing expenses were $9.9 million and $9.9 million for the six months ending December 31, 2011 and 2010, representing 42% and 44% of total revenues, respectively. We expect sales and marketing expenses will increase in the near term due primarily to planned marketing events in the quarters ending March 31, 2012 and June 30, 2012.
Research and Development. Research and development expenses consist primarily of personnel and related costs. Research and development expenses were $3.0 million and $2.8 million in the three months ended December 31, 2011 and 2010, representing 26% and 24% of total revenues, respectively. Research and development expenses were $6.1 million and $5.7 million for the six months ended December 31, 2011 and 2010, representing 26% and 25% of total revenues, respectively. We anticipate that research and development expenses in the near term will be consistent with the costs incurred during the three months ended December 31, 2011.
General and Administrative. General and administrative expenses consist primarily of the personnel and other costs associated with our finance, human resources and administrative departments. General and administrative expenses were $1.5 million and $1.3 million in the three-month periods ending December 31, 2011 and 2010, representing 13% and 11% of total revenues, respectively. General and administrative expenses were $3.3 million and $2.6 million for the six months ended December 31, 2011 and 2010, representing 14% and 11% of total revenues, respectively. The increase in the three and six month periods ended December 31, 2011 is due primarily to certain fees associated with our defense in ongoing patent litigation and the timing of fees associated with our annual independent audit. We anticipate that our general and administrative expenses in the near term will be consistent with costs incurred during the three months ended December 31, 2011.
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Pervasive Software Inc. has a market cap of $92.4 million; its shares were traded at around $5.84 with a P/E ratio of 38.7 and P/S ratio of 1.9. Pervasive Software Inc. had an annual average earning growth of 32% over the past 5 years.
Highlight of Business Operations:
Our revenues were $11.9 million in the three months ended December 31, 2011, with a 2% increase over the $11.7 million reported for the comparable period in the prior fiscal year. Our revenues for the six-month period ending December 31, 2011 increased 4% to $23.6 million as compared to $22.6 million for the comparable period in the prior fiscal year. Our product license revenues were $7.2 million in the three months ended December 31, 2011, an increase of 1% over the $7.1 million for the comparable period in the prior fiscal year. Our product license revenues for the six-month period ending December 31, 2011 were $14.8 million, an increase of 7% over the $13.8 million for the comparable period in the prior fiscal year. Our service and other revenues were $4.7 million in the three months ended December 31, 2011, an increase of 4% over the $4.5 million for the comparable period in the prior fiscal year. Our service and other revenues for the six-month period ending December 31, 2011 were $8.8 million, a decrease of 1% over the $8.9 million for the comparable period in the prior fiscal year.International revenues, consisting of all revenues from customers located outside of North America, were $4.0 million and $3.8 million in the three months ended December 31, 2011 and 2010, respectively, representing 34% and 33% of total revenues, respectively. International revenues were $9.2 million and $7.9 million in the six months ended December 31, 2011 and 2010, representing 39% and 35% of total revenues, respectively. We expect that international revenues will continue to account for a significant portion of our revenues in the future.
Sales and Marketing. Sales and marketing expenses consist primarily of salaries, commissions and bonuses earned by sales and marketing personnel, foreign sales office expense, marketing programs and promotional expense, and travel and entertainment. Sales and marketing expenses were $4.9 million and $5.3 million in the three-month periods ended December 31, 2011 and 2010, respectively, representing 41% and 46% of total revenues, respectively. Sales and marketing expenses were $9.9 million and $9.9 million for the six months ending December 31, 2011 and 2010, representing 42% and 44% of total revenues, respectively. We expect sales and marketing expenses will increase in the near term due primarily to planned marketing events in the quarters ending March 31, 2012 and June 30, 2012.
Research and Development. Research and development expenses consist primarily of personnel and related costs. Research and development expenses were $3.0 million and $2.8 million in the three months ended December 31, 2011 and 2010, representing 26% and 24% of total revenues, respectively. Research and development expenses were $6.1 million and $5.7 million for the six months ended December 31, 2011 and 2010, representing 26% and 25% of total revenues, respectively. We anticipate that research and development expenses in the near term will be consistent with the costs incurred during the three months ended December 31, 2011.
General and Administrative. General and administrative expenses consist primarily of the personnel and other costs associated with our finance, human resources and administrative departments. General and administrative expenses were $1.5 million and $1.3 million in the three-month periods ending December 31, 2011 and 2010, representing 13% and 11% of total revenues, respectively. General and administrative expenses were $3.3 million and $2.6 million for the six months ended December 31, 2011 and 2010, representing 14% and 11% of total revenues, respectively. The increase in the three and six month periods ended December 31, 2011 is due primarily to certain fees associated with our defense in ongoing patent litigation and the timing of fees associated with our annual independent audit. We anticipate that our general and administrative expenses in the near term will be consistent with costs incurred during the three months ended December 31, 2011.
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