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Concur Technologies Inc. Reports Operating Results (10-Q)

August 07, 2012 | About:
10qk

10qk

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Concur Technologies Inc. (CNQR) filed Quarterly Report for the period ended 2012-06-30.

Concur Technologies, Inc. has a market cap of $3.52 billion; its shares were traded at around $67.66 with a P/E ratio of 139.7 and P/S ratio of 10.1. Concur Technologies, Inc. had an annual average earning growth of 14% over the past 5 years.

Highlight of Business Operations:

International Revenues. Revenues from customers outside the United States represented 15% of total revenues for the three and nine months ended June 30, 2012, compared to 14% for each of the same periods in the prior year. We expect our international revenues to grow in the near term, as our products and services continue to gain acceptance in international

Revenues increased 26.5%, or $23.7 million, for the three months ended June 30, 2012, compared to the same period in the prior year. This increase was primarily due to growth in the number of customers for our subscription services as well as higher transaction volumes. The growth in the number of customers for our subscription services is a result of higher market demand for our subscription services and high rates of retention of existing subscription customers. We believe this demand reflects the market s growing awareness of our integrated travel and expense management solutions and the increasing acceptance of outsourced services such as ours. Additionally, the foreign currency impact had the effect of slightly decreasing our revenues when compared to the same period a year ago.

For the three months ended June 30, 2012, our effective tax rate of 383.7% differs from the federal statutory rate primarily due to losses in tax jurisdictions where we are not able to record a tax benefit combined with the timing of recognized earnings and losses throughout the year, the relative mix of earnings or losses within the tax jurisdictions in which we operate, and offset in part by the net impact of permanent book to tax differences associated with the TripIt Acquisition.

For the nine months ended June 30, 2012, our effective tax rate of 152.2% differs from the federal statutory rate primarily due to losses in tax jurisdictions where we are not able to record a tax benefit combined with the timing of recognized earnings and losses throughout the year, the relative mix of earnings or losses within the tax jurisdictions in which we operate, and offset in part by the net impact of permanent book to tax differences associated with the TripIt Acquisition.

Our operating cash inflows consist of payments received from our customers related to our subscription and other product offerings. Our operating cash outflows mainly consist of payments of compensation to employees, payments to vendors directly related to our services, related sales and marketing and administrative costs, costs of operations and systems development and programming costs. Net cash provided by operating activities was $25.1 million for the three months ended June 30, 2012, compared to $16.3 million for the same period in the prior year. The increase in operating cash flows was primarily driven by higher income during the three months ended June 30, 2012, after adjustments for non-cash related items.

Read the The complete Report

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