SourceForge Inc. (LNUX, Financial) filed Quarterly Report for the period ended 2012-03-31.
Sourceforge Inc. has a market cap of $99.28 million; its shares were traded at around $0 with a P/E ratio of 146.
e-Commerce revenue increased $2.3 million during the three months ended March 31, 2012 as compared to the same period ended March 31, 2011 primarily due to a 56% increase in the number unique visitors from the prior year period which led to an increase in the number of orders. The higher volume of visitors is primarily due to our efforts to increase consumer awareness of our ThinkGeek website through advertising and media coverage and further diversify our product offerings by introducing new products, including our innovative GeekLabs products, and expanding licensing partnerships. Media revenue did not change significantly during the three months ended March 31, 2012 as compared to the same period ended March 31, 2011.
e-Commerce cost of revenues increased $1.3 million during the three months ended March 31, 2012 as compared to the three months ended March 31, 2011 primarily due to higher e-Commerce sales. Media cost of revenues decreased $0.3 million during the three months ended March 31, 2012 as compared to the three months ended March 31, 2011 primarily due to lower personnel related expenses as a result of four fewer FTEs (full-time employee equivalents) and lower operating expenses.
e-Commerce revenue increased $2.3 million during the three months ended March 31, 2012 as compared to the same period ended March 31, 2011 primarily due to a higher volume of unique visitors. Unique visitors during the three months ended March 31, 2012 of 18.5 million increased 36% from 13.6 million unique visitors during the three months ended March 31, 2011. This additional traffic on our web site led to a 12% increase in orders shipped during the first quarter ended 2012 as compared to the same quarter ended 2011. The higher volume of visitors is primarily due to our efforts to increase consumer awareness of our ThinkGeek website through advertising and media coverage and further diversify our product offerings by introducing new products, including GeekLabs products, and expanding licensing partnerships.
e-Commerce sales and marketing expenses increased $0.1 million for the three months ended March 31, 2012 as compared to the three months ended March 31, 2011. This change was primarily due to an increase in personnel and related overhead expenses of $0.2 million related to an increase of five FTEs in e-Commerce S&M, partially offset by a decrease in credit card fees of $0.1 million. During the fourth quarter of 2011, we changed our credit card processing vendor which also resulted in cost reduction.
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Sourceforge Inc. has a market cap of $99.28 million; its shares were traded at around $0 with a P/E ratio of 146.
Highlight of Business Operations:
e-Commerce revenue is derived from the online sale of consumer goods. We recognize e-Commerce revenue from product sales when persuasive evidence of an arrangement exists, delivery has occurred, the sale price is fixed or determinable, and collectibility is reasonably assured. Revenue is deferred for orders shipped but not delivered before the end of the period. The amount recorded is estimated because of e-Commerce's high volume of transactions and the use of multiple shipping carriers. These estimates are used to determine what orders, placed at the end of the reporting period, were delivered and should be recognized as revenue. When calculating these estimates, we consider historical experiences of shipping transit times for domestic and international orders using different carriers. On average, shipping transit times are approximately one to six business days. As of March 31, 2012 and December 31, 2011, $0.6 million and $0.9 million, respectively, was recognized as deferred revenue for orders placed at the end of the reporting period, but not yet delivered.e-Commerce revenue increased $2.3 million during the three months ended March 31, 2012 as compared to the same period ended March 31, 2011 primarily due to a 56% increase in the number unique visitors from the prior year period which led to an increase in the number of orders. The higher volume of visitors is primarily due to our efforts to increase consumer awareness of our ThinkGeek website through advertising and media coverage and further diversify our product offerings by introducing new products, including our innovative GeekLabs products, and expanding licensing partnerships. Media revenue did not change significantly during the three months ended March 31, 2012 as compared to the same period ended March 31, 2011.
e-Commerce cost of revenues increased $1.3 million during the three months ended March 31, 2012 as compared to the three months ended March 31, 2011 primarily due to higher e-Commerce sales. Media cost of revenues decreased $0.3 million during the three months ended March 31, 2012 as compared to the three months ended March 31, 2011 primarily due to lower personnel related expenses as a result of four fewer FTEs (full-time employee equivalents) and lower operating expenses.
e-Commerce revenue increased $2.3 million during the three months ended March 31, 2012 as compared to the same period ended March 31, 2011 primarily due to a higher volume of unique visitors. Unique visitors during the three months ended March 31, 2012 of 18.5 million increased 36% from 13.6 million unique visitors during the three months ended March 31, 2011. This additional traffic on our web site led to a 12% increase in orders shipped during the first quarter ended 2012 as compared to the same quarter ended 2011. The higher volume of visitors is primarily due to our efforts to increase consumer awareness of our ThinkGeek website through advertising and media coverage and further diversify our product offerings by introducing new products, including GeekLabs products, and expanding licensing partnerships.
e-Commerce sales and marketing expenses increased $0.1 million for the three months ended March 31, 2012 as compared to the three months ended March 31, 2011. This change was primarily due to an increase in personnel and related overhead expenses of $0.2 million related to an increase of five FTEs in e-Commerce S&M, partially offset by a decrease in credit card fees of $0.1 million. During the fourth quarter of 2011, we changed our credit card processing vendor which also resulted in cost reduction.
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