Interactive Data Corp. (IDC, Financial) filed Quarterly Report for the period ended 2012-06-30.
. Interactive Data Corp. had an annual average earning growth of 11.7% over the past 10 years. GuruFocus rated Interactive Data Corp. the business predictability rank of 2-star.
Cost of services expenses decreased by $1.7 million, or 2.3%, to $73.8 million during the three months ended June 30, 2012 compared with the three months ended June 30, 2011. The change in foreign exchange rates decreased cost of services expense by $1.5 million. Excluding the impact of foreign exchange, cost of services expenses decreased by $0.2 million. An increase in salary expense of $1.9 million was more than offset by both a decrease in premises expense of $1.3 million resulting from the early termination of leases and a decrease in hardware expense of $0.9 million related to large hardware sales by our 7ticks business that occurred in the three months ended June 30, 2011and did not recur in 2012. Cost of services expense as a percentage of revenue was 33.4% in the three months ended June 30, 2012 compared with 34.9% in the three months ended June 30, 2011.
During the three months ended June 30, 2012, selling, general and administrative expenses increased by $2.9 million, or 4.6%, to $64.5 million compared with the three months ended June 30, 2011. The change in foreign exchange rates decreased selling, general, and administrative expenses by $1.3 million. Excluding the impact of foreign exchange, selling, general and administrative expenses increased by $4.2 million, or 6.8%. The expense increase for the three months ended June 30, 2012 compared with the same period in 2011 is primarily related to (1) a reduction of $1.3 million in expenses for the three months ended June 30, 2011 related to income received from a one-time asset sale that did not recur in 2012; (2) an increase in bad debt expense of $1.0 million; and (3) an increase in transactional foreign exchange losses on operating activities of $0.8 million;. Selling, general, and administrative expenses as a percentage of revenue was 29.1% in the three months ended June 30, 2012 compared with 28.5% for the three months ended June 30, 2011.
Cost of services expenses increased by $1.5 million, or 1.0%, to $148.5 million during the six months ended June 30, 2012 compared with the six months ended June 30, 2011. The change in foreign exchange rates decreased cost of services expense by $2.1 million. Excluding the impact of foreign exchange, cost of services expenses increased by $3.6 million, or 2.4%. The increase to expenses in the six months ended June 30, 2012 compared with the same period in 2011 is primarily due to a net increase in personnel-related expenses of approximately $5.7 million largely associated with increased salary expense and an increase of approximately $2.8 million in communications expense related to expansion of our 7ticks business and internal technical infrastructure projects. These increases were partially offset by both decreases in hardware expense of $3.1 million associated with large hardware sales by our
During the six months ended June 30, 2012, selling, general and administrative expenses increased by $6.8 million, or 5.4%, to $133.1 million compared with the six months ended June 30, 2011. The change in foreign exchange rates decreased selling, general, and administrative expenses by $1.7 million. Excluding the impact of foreign exchange, selling, general and administrative expenses increased by $8.5 million, or 6.8%. The increase to expenses in the six months ended June 30, 2012 compared with the same period in 2011 is primarily related to (1) an increase in transactional foreign exchange losses on operating activities of $1.8 million; (2) a reduction of $1.3 million in expenses for the six months ended June 30, 2011 related to income received from a one-time asset sale that did not recur in 2012; (3) an increase in bad debt expense of $1.2 million; (4) an increase in commissions paid to third parties for distribution of our data to customers of $1.1 million due to timing of changes in contractual terms and increased usage; and (5) increased travel expenses of $1.0 million related to expanded global responsibilities of certain executives as well as addition of new executive officers with global responsibilities. Selling, general, and administrative expenses as a percentage of revenue was 30.4% in the six months ended June 30, 2012 compared with 29.5% for the six months ended June 30, 2011.
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. Interactive Data Corp. had an annual average earning growth of 11.7% over the past 10 years. GuruFocus rated Interactive Data Corp. the business predictability rank of 2-star.
Highlight of Business Operations:
Total revenue for the three months ended June 30, 2012 increased $4.9 million, or 2.3%, to $221.2 million compared with the three months ended June 30, 2011. The change in foreign exchange rates decreased total revenue by $3.1 million in the three months ended June 30, 2012 and the purchase price allocation adjustment to deferred revenue decreased total revenue by $0.3 million in the three months ended June 30, 2011. Excluding the impact of foreign exchange and the purchase price allocation adjustment to deferred revenue, total revenue increased by $7.8 million, or 3.6% to $224.4 million. The impact of foreign exchange is primarily related to fluctuations of the U.S. dollar against the U.K. Pound and the Euro.Cost of services expenses decreased by $1.7 million, or 2.3%, to $73.8 million during the three months ended June 30, 2012 compared with the three months ended June 30, 2011. The change in foreign exchange rates decreased cost of services expense by $1.5 million. Excluding the impact of foreign exchange, cost of services expenses decreased by $0.2 million. An increase in salary expense of $1.9 million was more than offset by both a decrease in premises expense of $1.3 million resulting from the early termination of leases and a decrease in hardware expense of $0.9 million related to large hardware sales by our 7ticks business that occurred in the three months ended June 30, 2011and did not recur in 2012. Cost of services expense as a percentage of revenue was 33.4% in the three months ended June 30, 2012 compared with 34.9% in the three months ended June 30, 2011.
During the three months ended June 30, 2012, selling, general and administrative expenses increased by $2.9 million, or 4.6%, to $64.5 million compared with the three months ended June 30, 2011. The change in foreign exchange rates decreased selling, general, and administrative expenses by $1.3 million. Excluding the impact of foreign exchange, selling, general and administrative expenses increased by $4.2 million, or 6.8%. The expense increase for the three months ended June 30, 2012 compared with the same period in 2011 is primarily related to (1) a reduction of $1.3 million in expenses for the three months ended June 30, 2011 related to income received from a one-time asset sale that did not recur in 2012; (2) an increase in bad debt expense of $1.0 million; and (3) an increase in transactional foreign exchange losses on operating activities of $0.8 million;. Selling, general, and administrative expenses as a percentage of revenue was 29.1% in the three months ended June 30, 2012 compared with 28.5% for the three months ended June 30, 2011.
Cost of services expenses increased by $1.5 million, or 1.0%, to $148.5 million during the six months ended June 30, 2012 compared with the six months ended June 30, 2011. The change in foreign exchange rates decreased cost of services expense by $2.1 million. Excluding the impact of foreign exchange, cost of services expenses increased by $3.6 million, or 2.4%. The increase to expenses in the six months ended June 30, 2012 compared with the same period in 2011 is primarily due to a net increase in personnel-related expenses of approximately $5.7 million largely associated with increased salary expense and an increase of approximately $2.8 million in communications expense related to expansion of our 7ticks business and internal technical infrastructure projects. These increases were partially offset by both decreases in hardware expense of $3.1 million associated with large hardware sales by our
During the six months ended June 30, 2012, selling, general and administrative expenses increased by $6.8 million, or 5.4%, to $133.1 million compared with the six months ended June 30, 2011. The change in foreign exchange rates decreased selling, general, and administrative expenses by $1.7 million. Excluding the impact of foreign exchange, selling, general and administrative expenses increased by $8.5 million, or 6.8%. The increase to expenses in the six months ended June 30, 2012 compared with the same period in 2011 is primarily related to (1) an increase in transactional foreign exchange losses on operating activities of $1.8 million; (2) a reduction of $1.3 million in expenses for the six months ended June 30, 2011 related to income received from a one-time asset sale that did not recur in 2012; (3) an increase in bad debt expense of $1.2 million; (4) an increase in commissions paid to third parties for distribution of our data to customers of $1.1 million due to timing of changes in contractual terms and increased usage; and (5) increased travel expenses of $1.0 million related to expanded global responsibilities of certain executives as well as addition of new executive officers with global responsibilities. Selling, general, and administrative expenses as a percentage of revenue was 30.4% in the six months ended June 30, 2012 compared with 29.5% for the six months ended June 30, 2011.
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