TeleCommunication Systems Inc. (TSYS, Financial) filed Quarterly Report for the period ended 2012-03-31.
Telecommun Sys has a market cap of $155.8 million; its shares were traded at around $1.94 with a P/E ratio of 10.8 and P/S ratio of 0.4. Telecommun Sys had an annual average earning growth of 25.9% over the past 5 years.
Our government systems gross profit increased $3.3 million, or 174% in the first quarter of 2012 compared to the first quarter of 2011. First quarter 2012 government systems gross profit was 22% of government systems revenue versus 18% in the first quarter of 2011, due to higher sales volume.
The direct cost of our commercial services revenue consists primarily of compensation and benefits, network access, data feed and circuit costs for network operation centers and co-location facilities, and equipment and software maintenance. For the three-months ended March 31, 2012, the direct cost of commercial services revenue decreased $0.8 million, or 4% compared to the first quarter of 2011, reflecting a decrease in labor and direct costs related to custom development efforts responding to customer requests, and deployment requirements for wireless and VoIP E-9-1-1. The direct cost of services includes amortization of capitalized software development costs of $1.7 million in each of the three-months ended March 31, 2012 and 2011.
Commercial systems revenue was down $0.6 million, or 13% lower for the three-months ended March 31, 2012 compared to the three-months ended March 31, 2011. Our newly launched Next Generation 9-1-1 technology contributed $1.4 million of new revenue during the first quarter of 2012 as compared to the first quarter of 2011. This additional revenue was offset by a decrease in our commercial systems revenue as a result of more of our carrier customers acquiring more location-based infrastructure on a hosted or managed services model rather than buy in-network systems.
The direct cost of commercial systems revenue consists primarily of compensation and benefits, third-party hardware and software purchased for integration and resale, travel expenses, consulting fees as well as the amortization of acquired and capitalized software development costs. The direct cost of commercial systems decreased $0.1 million, or 3% in the first three months of 2012 as compared to the first three months of 2011, reflecting a decrease in labor and direct costs for customer-requested custom messaging and location-based system development projects. The direct cost of systems includes amortization of capitalized software development costs of $1.1 million and $0.9 million for the three-months ended March 31, 2012 and 2011, respectively.
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Telecommun Sys has a market cap of $155.8 million; its shares were traded at around $1.94 with a P/E ratio of 10.8 and P/S ratio of 0.4. Telecommun Sys had an annual average earning growth of 25.9% over the past 5 years.
Highlight of Business Operations:
Our gross profit from government services decreased $0.6 million, or 7% in the first quarter of 2012 compared to the first quarter of 2011. Government services gross profit was 24% and 29% of government services revenue first quarter of 2012 and 2011, respectively.Our government systems gross profit increased $3.3 million, or 174% in the first quarter of 2012 compared to the first quarter of 2011. First quarter 2012 government systems gross profit was 22% of government systems revenue versus 18% in the first quarter of 2011, due to higher sales volume.
The direct cost of our commercial services revenue consists primarily of compensation and benefits, network access, data feed and circuit costs for network operation centers and co-location facilities, and equipment and software maintenance. For the three-months ended March 31, 2012, the direct cost of commercial services revenue decreased $0.8 million, or 4% compared to the first quarter of 2011, reflecting a decrease in labor and direct costs related to custom development efforts responding to customer requests, and deployment requirements for wireless and VoIP E-9-1-1. The direct cost of services includes amortization of capitalized software development costs of $1.7 million in each of the three-months ended March 31, 2012 and 2011.
Commercial systems revenue was down $0.6 million, or 13% lower for the three-months ended March 31, 2012 compared to the three-months ended March 31, 2011. Our newly launched Next Generation 9-1-1 technology contributed $1.4 million of new revenue during the first quarter of 2012 as compared to the first quarter of 2011. This additional revenue was offset by a decrease in our commercial systems revenue as a result of more of our carrier customers acquiring more location-based infrastructure on a hosted or managed services model rather than buy in-network systems.
The direct cost of commercial systems revenue consists primarily of compensation and benefits, third-party hardware and software purchased for integration and resale, travel expenses, consulting fees as well as the amortization of acquired and capitalized software development costs. The direct cost of commercial systems decreased $0.1 million, or 3% in the first three months of 2012 as compared to the first three months of 2011, reflecting a decrease in labor and direct costs for customer-requested custom messaging and location-based system development projects. The direct cost of systems includes amortization of capitalized software development costs of $1.1 million and $0.9 million for the three-months ended March 31, 2012 and 2011, respectively.
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