Sharps Compliance Corp (SMED, Financial) filed Quarterly Report for the period ended 2011-12-31.
Sharps Compliance Corp has a market cap of $56.7 million; its shares were traded at around $3.76 with and P/S ratio of 3.
Cost of revenues for the three months ended December 31, 2011 of $4.1 million was 65.4% of revenues. Cost of revenues for the three months ended December 31, 2010 of $3.4 million was 73.4% of revenues. The higher gross margin for the quarter ended December 31, 2011 of 34.6% (versus 26.6% for the quarter ended December 31, 2010) was due to the leverage inherent in the business due to increased sales volume.
Selling, general and administrative (“SG&A”) expenses for the three months ended December 31, 2011 of $2.0 million, decreased by $0.3 million, from SG&A expenses of $2.3 million for the three months ended December 31, 2010. The decrease in SG&A is primarily due to (i) decreased professional expenses of $0.2 million (primarily due to regulatory and consulting fees, legal fees, audit and related fees and other sales-related consulting fees) and (ii) lower compensation and benefit expense including payroll tax of $0.1 million (primarily due to timing of employee hires and terminations and stock-based compensation).
Cost of revenues for the six months ended December 31, 2011 of $8.0 million was 66.8% of revenues. Cost of revenues for the six months ended December 31, 2010 of $6.8 million was 69.1% of revenue. The higher gross margin for the six months ended December 31, 2011 of 33.2% (versus 30.9% for the six months ended December 31, 2010) was due to the leverage inherent in the business due to increased sales volume offset by unscheduled maintenance and repairs at the Company s treatment facility and up-front costs related to the initial rollout of the Complete Needle™ Collection & Disposal System.
Selling, general and administrative (“SG&A”) expenses for the six months ended December 31, 2011 of $4.2 million, decreased by $0.5 million, from SG&A expenses of $4.7 million for the six months ended December 31, 2010. The decrease in SG&A is primarily due to (i) lower compensation and benefit expense including payroll tax of $0.2 million (primarily due to timing of employee hires and terminations), (ii) lower miscellaneous expense of $0.2 million (primarily related lower to recruiting fees and stock-based compensation expense) and (iii) lower professional fees of $0.2 million (primarily due to regulatory and consulting fees, legal fees and other sales-related consulting fees. The decrease was partially offset by increased marketing expense of $0.1 million (primarily due to consulting expenses and timing of new campaigns).
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Sharps Compliance Corp has a market cap of $56.7 million; its shares were traded at around $3.76 with and P/S ratio of 3.
Highlight of Business Operations:
Total revenues for the three months ended December 31, 2011 of $6.2 million increased by $1.6 million, or 34.7%, over the total revenues for the three months ended December 31, 2010 of $4.6 million. Billings by market are as follows (in thousands):Cost of revenues for the three months ended December 31, 2011 of $4.1 million was 65.4% of revenues. Cost of revenues for the three months ended December 31, 2010 of $3.4 million was 73.4% of revenues. The higher gross margin for the quarter ended December 31, 2011 of 34.6% (versus 26.6% for the quarter ended December 31, 2010) was due to the leverage inherent in the business due to increased sales volume.
Selling, general and administrative (“SG&A”) expenses for the three months ended December 31, 2011 of $2.0 million, decreased by $0.3 million, from SG&A expenses of $2.3 million for the three months ended December 31, 2010. The decrease in SG&A is primarily due to (i) decreased professional expenses of $0.2 million (primarily due to regulatory and consulting fees, legal fees, audit and related fees and other sales-related consulting fees) and (ii) lower compensation and benefit expense including payroll tax of $0.1 million (primarily due to timing of employee hires and terminations and stock-based compensation).
Cost of revenues for the six months ended December 31, 2011 of $8.0 million was 66.8% of revenues. Cost of revenues for the six months ended December 31, 2010 of $6.8 million was 69.1% of revenue. The higher gross margin for the six months ended December 31, 2011 of 33.2% (versus 30.9% for the six months ended December 31, 2010) was due to the leverage inherent in the business due to increased sales volume offset by unscheduled maintenance and repairs at the Company s treatment facility and up-front costs related to the initial rollout of the Complete Needle™ Collection & Disposal System.
Selling, general and administrative (“SG&A”) expenses for the six months ended December 31, 2011 of $4.2 million, decreased by $0.5 million, from SG&A expenses of $4.7 million for the six months ended December 31, 2010. The decrease in SG&A is primarily due to (i) lower compensation and benefit expense including payroll tax of $0.2 million (primarily due to timing of employee hires and terminations), (ii) lower miscellaneous expense of $0.2 million (primarily related lower to recruiting fees and stock-based compensation expense) and (iii) lower professional fees of $0.2 million (primarily due to regulatory and consulting fees, legal fees and other sales-related consulting fees. The decrease was partially offset by increased marketing expense of $0.1 million (primarily due to consulting expenses and timing of new campaigns).
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