Internet Capital Group Inc. (ICGE, Financial) filed Quarterly Report for the period ended 2012-06-30.
Icg Group Inc. has a market cap of $344.1 million; its shares were traded at around $9.73 with a P/E ratio of 184.8 and P/S ratio of 2.5.
We believe that our existing cash and cash equivalents, proceeds from the potential sales of all or a portion of our interests in certain companies and equity issuances, will be sufficient to fund our cash requirements for the foreseeable future, including any future commitments to our companies, debt obligations and general operating requirements. As of the date of this Report, we were not obligated for any material funding or guarantee commitments to existing companies or potential acquisition candidates. We will continue to evaluate acquisition opportunities and may acquire additional ownership interests in new and existing companies in the next twelve months.
The increase in our consolidated revenue from the quarter ended June 30, 2011 to the quarter ended June 30, 2012 was due to revenue growth at three of our consolidated core companies, Procurian, GovDelivery and InvestorForce, and is primarily attributable to Zurich, a relatively new Procurian customer, and other new customers at those companies. Procurian experienced 23% revenue growth in the second quarter of 2012 compared to the second quarter of 2011, which was better than planned due to the timing of the execution of certain contracts. GovDelivery experienced revenue growth of 30% in the second quarter of 2012, which was consistent with its plan. Additionally, the acquisition of MSDSonline on March 30, 2012 contributed slightly to the year-over-year increase in revenue.
The increase in our consolidated revenue from the six months ended June 30, 2011 to the six months ended June 30, 2012 was due to revenue growth at three of our consolidated core companies, Procurian, GovDelivery and InvestorForce, and is primarily attributable to Zurich, a relatively new Procurian customer, and other new customers at those companies. Procurian and GovDelivery experienced revenue growth of 14% and 37%, respectively, in the first half of 2012 compared to the first half of 2011, both of which were slightly better than planned due to the timing of the execution of certain contracts. The acquisition of MSDSonline during the six month period ended June 30, 2012 also contributed slightly to the increase in revenue.
During 2011, three of ICGs equity method companies were sold: Metastorm (on February 17, 2011), ClickEquations (on June 14, 2011) and StarCite (on December 30, 2011). Prior to those sales, Metastorm and StarCite were included in our core segment and ClickEquations was included in our venture segment. For the three months ended June 30, 2011, our aggregate share of ClickEquations and StarCites results was $1.0 million, which included $0.3 million of ICGs intangible asset amortization related to StarCite. For the six months ended June 30, 2011, our aggregate share of Metastorms, ClickEquations and StarCites results was $2.1 million, which included $0.7 million of ICGs intangible asset amortization, primarily related to StarCite. Following the respective sales, our share of those three companies results and the related ICG intangible asset amortization were removed from the results of the respective segments and are included in Dispositions in the Results of Operations segment information in the summary table above for all relevant periods presented.
Read the The complete Report
Icg Group Inc. has a market cap of $344.1 million; its shares were traded at around $9.73 with a P/E ratio of 184.8 and P/S ratio of 2.5.
Highlight of Business Operations:
The increase in our consolidated revenue from the six-month period ended June 30, 2011 to the six-month period ended June 30, 2012 was due to revenue growth at three of our consolidated core companies, which is primarily attributable to new customers at those companies. Procurian experienced 14% year-over-year revenue growth in the first half of 2012 compared to 29% year-over-year revenue growth in the first half of 2011. The slower revenue growth that was experienced at Procurian during the first half of 2012 is largely due to a reduction in the amount of spend Procurian manages for a small number of its existing customers. New customer signings at Procurian in 2012 more than offset those existing customer contract reductions. We expect growth rates at Procurian in the second half of 2012 to be consistent with the growth rates experienced during the first half of 2012. GovDelivery experienced revenue growth of 37% in the first half of 2012, which was better than planned, due to the timing of contract signings. Our acquisition of MSDSonline on March 30, 2012 did not impact our Consolidated Statements of Operations for the first quarter of 2012 but revenue at MSDSonline in the second quarter of 2012 was, and any revenue at MSDSonline in future periods will continue to be, additive to our consolidated revenue.We believe that our existing cash and cash equivalents, proceeds from the potential sales of all or a portion of our interests in certain companies and equity issuances, will be sufficient to fund our cash requirements for the foreseeable future, including any future commitments to our companies, debt obligations and general operating requirements. As of the date of this Report, we were not obligated for any material funding or guarantee commitments to existing companies or potential acquisition candidates. We will continue to evaluate acquisition opportunities and may acquire additional ownership interests in new and existing companies in the next twelve months.
The increase in our consolidated revenue from the quarter ended June 30, 2011 to the quarter ended June 30, 2012 was due to revenue growth at three of our consolidated core companies, Procurian, GovDelivery and InvestorForce, and is primarily attributable to Zurich, a relatively new Procurian customer, and other new customers at those companies. Procurian experienced 23% revenue growth in the second quarter of 2012 compared to the second quarter of 2011, which was better than planned due to the timing of the execution of certain contracts. GovDelivery experienced revenue growth of 30% in the second quarter of 2012, which was consistent with its plan. Additionally, the acquisition of MSDSonline on March 30, 2012 contributed slightly to the year-over-year increase in revenue.
The increase in our consolidated revenue from the six months ended June 30, 2011 to the six months ended June 30, 2012 was due to revenue growth at three of our consolidated core companies, Procurian, GovDelivery and InvestorForce, and is primarily attributable to Zurich, a relatively new Procurian customer, and other new customers at those companies. Procurian and GovDelivery experienced revenue growth of 14% and 37%, respectively, in the first half of 2012 compared to the first half of 2011, both of which were slightly better than planned due to the timing of the execution of certain contracts. The acquisition of MSDSonline during the six month period ended June 30, 2012 also contributed slightly to the increase in revenue.
During 2011, three of ICGs equity method companies were sold: Metastorm (on February 17, 2011), ClickEquations (on June 14, 2011) and StarCite (on December 30, 2011). Prior to those sales, Metastorm and StarCite were included in our core segment and ClickEquations was included in our venture segment. For the three months ended June 30, 2011, our aggregate share of ClickEquations and StarCites results was $1.0 million, which included $0.3 million of ICGs intangible asset amortization related to StarCite. For the six months ended June 30, 2011, our aggregate share of Metastorms, ClickEquations and StarCites results was $2.1 million, which included $0.7 million of ICGs intangible asset amortization, primarily related to StarCite. Following the respective sales, our share of those three companies results and the related ICG intangible asset amortization were removed from the results of the respective segments and are included in Dispositions in the Results of Operations segment information in the summary table above for all relevant periods presented.
Read the The complete Report
