Print
Email
BMC Software Inc. (BMC) filed Quarterly Report for the period ended 2011-12-31.
Bmc Software Inc. has a market cap of $6.1 billion; its shares were traded at around $35.86 with a P/E ratio of 13.8 and P/S ratio of 3.3. Bmc Software Inc. had an annual average earning growth of 31.1% over the past 5 years.
This is the annual revenues and earnings per share of BMC over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of BMC.
Highlight of Business Operations:
Total revenue for the quarter was $548.2 million, representing an increase of $8.3 million, or 1.5%, over the prior year quarter, and for the nine months ended December 31, 2011 was $1,607.3 million, representing an increase of $104.2 million, or 6.9%, over the prior year period. The increase for the quarter was reflective of maintenance and professional services revenue increases of $13.0 million, or 5.0%, and $4.9 million, or 10.7%, respectively, offset by a license revenue decrease of $9.6 million, or 4.1%. The increase for the nine months ended December 31, 2011 was reflective of license, maintenance and professional services revenue increases of $30.3 million, or 4.9%, $41.8 million, or 5.5%, and $32.1 million, or 26.0%, respectively. On a segment basis, total ESM revenue for the quarter decreased by $2.5 million, or 0.7%, and total MSM revenue increased by $10.8 million, or 5.3%, as compared to the prior year quarter, and for the nine months ended December 31, 2011, total ESM revenue increased by $58.0 million, or 6.2%, and total MSM revenue increased by $46.2 million, or 8.1%, over the prior year period.ESM license revenue was $133.7 million, or 59.4%, and $398.2 million, or 61.8%, of our total license revenue for the quarter and nine months ended December 31, 2011, respectively, and $148.9 million, or 63.5%, and $393.4 million, or 64.1%, of our total license revenue for the quarter and nine months ended December 31, 2010, respectively. ESM license revenue for the quarter ended December 31, 2011 decreased by $15.2 million, or 10.2%, from the prior year quarter, primarily due to a $10.8 million decrease in the recognition of previously deferred license revenue and a $4.4 million reduction in upfront license revenue recognized in connection with new transactions. The decrease in upfront license revenue recognized in the quarter ended December 31, 2011 was attributable to a decrease in license bookings, partially offset by a higher percentage of such bookings that were recognized as revenue upfront rather than ratably over the underlying contractual maintenance terms. ESM license revenue for the nine months ended December 31, 2011 increased by $4.8 million, or 1.2%, over the prior year period, primarily due to an $8.3 million increase in the amount of upfront license revenue recognized in connection with new transactions, offset by a $3.5 million decrease in the recognition of previously deferred license revenue. The increase in upfront license revenue recognized in the nine months ended December 31, 2011 was attributable to a higher percentage of license bookings that were recognized as revenue upfront rather than ratably over the underlying contractual maintenance terms, partially offset by a decrease in license bookings.
Domestic license revenue was $107.4 million, or 47.7%, and $314.9 million, or 48.9%, of our total license revenue for the quarter and nine months ended December 31, 2011, respectively, and $105.8 million, or 45.1%, and $291.3 million, or 47.5%, of our total license revenue for the quarter and nine months ended December 31, 2010, respectively. Domestic license revenue for the quarter ended December 31, 2011 increased by $1.6 million, or 1.5%, over the prior year quarter, due to a $1.9 million increase in ESM license revenue, offset by a $0.3 million decrease in MSM license revenue. Domestic license revenue for the nine months ended December 31, 2011 increased by $23.6 million, or 8.1%, over the prior year period, due to a $13.6 million increase in ESM license revenue and a $10.0 million increase in MSM license revenue.
Domestic maintenance revenue was $144.6 million, or 53.1%, and $432.5 million, or 53.6%, of our total maintenance revenue for the quarter and nine months ended December 31, 2011, respectively, and $139.3 million, or 53.7%, and $416.6 million, or 54.4%, of our total maintenance revenue for the quarter and nine months ended December 31, 2010, respectively. Domestic maintenance revenue for the quarter ended December 31, 2011 increased by $5.3 million, or 3.8%, over the prior year quarter, due to a $3.5 million increase in ESM maintenance revenue and a $1.8 million increase in MSM maintenance revenue. Domestic maintenance revenue for the nine months ended December 31, 2011 increased by $15.9 million, or 3.8%, over the prior year period, due to an $11.5 million increase in ESM maintenance revenue and a $4.4 million increase in MSM maintenance revenue.
Income tax expense was $38.4 million and $97.7 million for the quarter and nine months ended December 31, 2011, respectively, resulting in effective tax rates of 24.3% and 22.8%, respectively. Income tax expense was $32.0 million and $53.8 million for the quarter and nine months ended December 31, 2010, respectively, resulting in effective tax rates of 22.7% and 13.9%, respectively. Our effective tax rate generally differs from the U.S. federal statutory rate of 35% due to favorable tax rates associated with earnings from lower tax rate jurisdictions throughout the world and our policy of indefinitely reinvesting earnings from certain jurisdictions (primarily in Europe), as well as due to additional accruals, changes in estimates, releases and settlements with taxing authorities related to our uncertain tax positions and benefits associated with income attributable to both domestic production activities and the extraterritorial income exclusion. During the quarter and nine months ended December 31, 2011, the overall favorable effects of foreign tax rates on our effective tax rate were 7.3% and 8.6% of pre-tax earnings, respectively. During the quarter and nine months ended December 31, 2010, the overall favorable effects of foreign tax rates on our effective tax rate were 10.9% and 11.7% of pre-tax earnings, respectively. During the nine months ended December 31, 2011 and 2010, we also recorded discrete net tax benefits of $6.2 million and $32.0 million, respectively, associated with tax authority settlements related to prior years’ tax matters which favorably impacted our effective tax rate by 1.4% and 8.3% of pre-tax earnings, respectively. Our effective tax rate could fluctuate on a quarterly basis and could be adversely affected to the extent earnings are lower than anticipated in countries with lower statutory rates and higher than anticipated in countries with higher statutory rates.
Subscribe RSS
