MEDASSETS, INC. (MDAS, Financial) filed Quarterly Report for the period ended 2012-06-30.
Medassets, Inc. has a market cap of $919.72 million; its shares were traded at around $15.77 with a P/E ratio of 16.43 and P/S ratio of 1.59. Medassets, Inc. had an annual average earning growth of 4.9% over the past 5 years.
General and administrative expenses. General and administrative expenses for the three months ended June 30, 2012 were approximately $56.6 million, or 34.7% of total net revenue, an increase of $9.8 million, or 21.0%, from general and administrative expenses of $46.8 million, or 31.7% of total net revenue, for the three months ended June 30, 2011. The increase was attributable to a $4.5 million increase in compensation expense to new and existing employees, primarily operations-based employees; a $3.3 million increase in share-based compensation expense (for the reason described under Selling and marketing expenses); a $1.0 million increase in professional fees; a $0.5 million increase in telecommunications expense; and a $0.5 million increase in other operating infrastructure expense.
Total net revenue. Total net revenue for the six months ended June 30, 2012 was $312.9 million, an increase of approximately $35.0 million, or 12.6%, from total net revenue of $277.9 million for the six months ended June 30, 2011. Total net revenue for the six months ended June 30, 2011 excludes $6.1 million of revenue due to purchase accounting revenue adjustments required under GAAP (refer to footnote 4 of the Adjusted EBITDA Reconciliation table included in the Use of Non-GAAP Financial Measures section for additional information). Had this amount been included in total net revenue for the six months ended June 30, 2011, our total net revenue for the six months ended June 30, 2012 would have reflected an increase of 10.2% as compared to the prior period. The increase in total net revenue was comprised of a $25.0 million increase in SCM revenue and a $10.0 million increase in RCM revenue. For the six months ended June 30, 2012 and 2011, performance-related revenue as a percentage of consolidated net revenue amounted to approximately 3.2% and 2.4%, respectively. Revenue may fluctuate significantly from period to period based upon achieving and receiving customer acknowledgement of our achievement of the financial performance targets.
Selling and marketing expenses. Selling and marketing expenses for the six months ended June 30, 2012 were $33.7 million, or 10.8% of total net revenue, an increase of $3.1 million, or 10.2%, from selling and marketing expenses of $30.6 million, or 11.0% of total net revenue, for the six months ended June 30, 2011. The increase was attributable to a $2.1 million increase in compensation expense relating to new and existing employees; a $1.0 million increase in share-based compensation expense primarily due to the reversal of share-based compensation during the three months ended June 30, 2011 relating to certain performance-based restricted stock grants and SSAR grants (as discussed in the Overview); and a $0.8 million increase in other operating infrastructure expense. The increase was partially offset by a $0.8 million decrease in expenses associated with our client and vendor meeting. Total expenses related to our client and vendor meeting amounted to $6.2 million and $7.0 million for the six months ended June 30, 2012 and 2011, respectively.
General and administrative expenses. General and administrative expenses for the six months ended June 30, 2012 were approximately $110.4 million, or 35.3% of total net revenue, an increase of $14.5 million, or 15.1%, from general and administrative expenses of $95.9 million, or 34.5% of total net revenue, for the six months ended June 30, 2011. The increase was attributable to a $7.3 million increase in compensation expense to new and existing employees, primarily operations-based employees; a $2.8 million increase in share-based compensation expense (for the reason described under Selling and marketing expenses); a $2.0 million increase in professional fees; a $1.2 million increase in telecommunications expense; and a $1.2 million increase in other operating infrastructure expense.
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Medassets, Inc. has a market cap of $919.72 million; its shares were traded at around $15.77 with a P/E ratio of 16.43 and P/S ratio of 1.59. Medassets, Inc. had an annual average earning growth of 4.9% over the past 5 years.
Highlight of Business Operations:
Selling and marketing expenses. Selling and marketing expenses for the three months ended June 30, 2012 were $19.2 million, or 11.8% of total net revenue, an increase of $1.2 million, or 6.5%, from selling and marketing expenses of $18.0 million, or 12.2% of total net revenue, for the three months ended June 30, 2011. The increase was attributable to a $0.9 million increase in share-based compensation expense primarily due to the reversal of share-based compensation during the three months ended June 30, 2011 relating to certain performance-based restricted stock grants and SSAR grants (as discussed in the Overview); a $0.8 million increase in compensation expense relating to new and existing employees; and a $0.3 million increase in other operating infrastructure expense. The increase was partially offset by a $0.8 million decrease in expenses associated with our client and vendor meeting. Total expenses related to our client and vendor meeting amounted to $6.2 million and $7.0 million for the three months ended June 30, 2012 and 2011, respectively.General and administrative expenses. General and administrative expenses for the three months ended June 30, 2012 were approximately $56.6 million, or 34.7% of total net revenue, an increase of $9.8 million, or 21.0%, from general and administrative expenses of $46.8 million, or 31.7% of total net revenue, for the three months ended June 30, 2011. The increase was attributable to a $4.5 million increase in compensation expense to new and existing employees, primarily operations-based employees; a $3.3 million increase in share-based compensation expense (for the reason described under Selling and marketing expenses); a $1.0 million increase in professional fees; a $0.5 million increase in telecommunications expense; and a $0.5 million increase in other operating infrastructure expense.
Total net revenue. Total net revenue for the six months ended June 30, 2012 was $312.9 million, an increase of approximately $35.0 million, or 12.6%, from total net revenue of $277.9 million for the six months ended June 30, 2011. Total net revenue for the six months ended June 30, 2011 excludes $6.1 million of revenue due to purchase accounting revenue adjustments required under GAAP (refer to footnote 4 of the Adjusted EBITDA Reconciliation table included in the Use of Non-GAAP Financial Measures section for additional information). Had this amount been included in total net revenue for the six months ended June 30, 2011, our total net revenue for the six months ended June 30, 2012 would have reflected an increase of 10.2% as compared to the prior period. The increase in total net revenue was comprised of a $25.0 million increase in SCM revenue and a $10.0 million increase in RCM revenue. For the six months ended June 30, 2012 and 2011, performance-related revenue as a percentage of consolidated net revenue amounted to approximately 3.2% and 2.4%, respectively. Revenue may fluctuate significantly from period to period based upon achieving and receiving customer acknowledgement of our achievement of the financial performance targets.
Selling and marketing expenses. Selling and marketing expenses for the six months ended June 30, 2012 were $33.7 million, or 10.8% of total net revenue, an increase of $3.1 million, or 10.2%, from selling and marketing expenses of $30.6 million, or 11.0% of total net revenue, for the six months ended June 30, 2011. The increase was attributable to a $2.1 million increase in compensation expense relating to new and existing employees; a $1.0 million increase in share-based compensation expense primarily due to the reversal of share-based compensation during the three months ended June 30, 2011 relating to certain performance-based restricted stock grants and SSAR grants (as discussed in the Overview); and a $0.8 million increase in other operating infrastructure expense. The increase was partially offset by a $0.8 million decrease in expenses associated with our client and vendor meeting. Total expenses related to our client and vendor meeting amounted to $6.2 million and $7.0 million for the six months ended June 30, 2012 and 2011, respectively.
General and administrative expenses. General and administrative expenses for the six months ended June 30, 2012 were approximately $110.4 million, or 35.3% of total net revenue, an increase of $14.5 million, or 15.1%, from general and administrative expenses of $95.9 million, or 34.5% of total net revenue, for the six months ended June 30, 2011. The increase was attributable to a $7.3 million increase in compensation expense to new and existing employees, primarily operations-based employees; a $2.8 million increase in share-based compensation expense (for the reason described under Selling and marketing expenses); a $2.0 million increase in professional fees; a $1.2 million increase in telecommunications expense; and a $1.2 million increase in other operating infrastructure expense.
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