SPAR Group Inc. (SGRP, Financial) filed Quarterly Report for the period ended 2012-03-31.
Spar Group Inc has a market cap of $25.7 million; its shares were traded at around $1.18 with a P/E ratio of 12.8 and P/S ratio of 0.4.
International net revenues totaled $11.8 million for the three months ended March 31, 2012, compared to $6.9 million for the same period in 2011, an increase of $4.9 million or 71%. The increase in 2012 international net revenues was primarily due to incremental revenue from the new subsidiaries in Mexico of $3.2 million and Turkey of $820,000, in addition to strong performances in South Africa of $1.3 million resulting from a new client in the general merchandising category and in Japan of $500,000, which was partially offset by lower revenue in Australia of $640,000, China of $160,000 and India of 100,000 due to their respective losses of key clients.
Domestic cost of revenues was 68.1% of net revenues for the three months ended March 31, 2012, and 65.6% of net revenues for the three months ended March 31, 2011. The increase in cost of revenues as a percentage of net revenues was 2.5% due primarily to an unfavorable mix of syndicated and project work compared to last year. Approximately 91% and 89% of the Company's domestic cost of revenues in the three months ended March 31, 2012 and 2011, respectively, resulted from in-store merchandiser specialist and field management services purchased from certain of the Company's affiliates, SPAR Marketing Services, Inc. ("SMS"), and SPAR Management Services, Inc. ("SMSI"), respectively (See - Note 6 - Related-Party Transactions).
Internationally, the cost of revenues increased to 76.1% of net revenues for the three months ended March 31, 2012, compared to 71.6% of net revenues for the three months ended March 31, 2011. The cost of revenue percentage increase of 4.5% was primarily due to higher cost margin business in Mexico.
Net operating profits from the non-controlling interest, from the Company's 51% owned subsidiaries, resulted in a reduction of net income of $152,000 for the three months ended March 31, 2012 compared to a reduction of net income of $30,000 for the three months ended March 31, 2011.
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Spar Group Inc has a market cap of $25.7 million; its shares were traded at around $1.18 with a P/E ratio of 12.8 and P/S ratio of 0.4.
Highlight of Business Operations:
Net revenues for the three months ended March 31, 2012, were $21 million, compared to $16.4 million for the three months ended March 31, 2011, an increase of $4.6 million or 28%.International net revenues totaled $11.8 million for the three months ended March 31, 2012, compared to $6.9 million for the same period in 2011, an increase of $4.9 million or 71%. The increase in 2012 international net revenues was primarily due to incremental revenue from the new subsidiaries in Mexico of $3.2 million and Turkey of $820,000, in addition to strong performances in South Africa of $1.3 million resulting from a new client in the general merchandising category and in Japan of $500,000, which was partially offset by lower revenue in Australia of $640,000, China of $160,000 and India of 100,000 due to their respective losses of key clients.
Domestic cost of revenues was 68.1% of net revenues for the three months ended March 31, 2012, and 65.6% of net revenues for the three months ended March 31, 2011. The increase in cost of revenues as a percentage of net revenues was 2.5% due primarily to an unfavorable mix of syndicated and project work compared to last year. Approximately 91% and 89% of the Company's domestic cost of revenues in the three months ended March 31, 2012 and 2011, respectively, resulted from in-store merchandiser specialist and field management services purchased from certain of the Company's affiliates, SPAR Marketing Services, Inc. ("SMS"), and SPAR Management Services, Inc. ("SMSI"), respectively (See - Note 6 - Related-Party Transactions).
Internationally, the cost of revenues increased to 76.1% of net revenues for the three months ended March 31, 2012, compared to 71.6% of net revenues for the three months ended March 31, 2011. The cost of revenue percentage increase of 4.5% was primarily due to higher cost margin business in Mexico.
Net operating profits from the non-controlling interest, from the Company's 51% owned subsidiaries, resulted in a reduction of net income of $152,000 for the three months ended March 31, 2012 compared to a reduction of net income of $30,000 for the three months ended March 31, 2011.
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