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Selectica, Inc. has a market cap of $10.5 million; its shares were traded at around $3.88 with and P/S ratio of 0.8.
Highlight of Business Operations:For the three months ended June 30, 2012, our total revenues increased by 11%, or $0.4 million, to $4.2 million compared with total revenues of $3.8 million for the three months ended June 30, 2011. Recurring revenues, comprised of subscription license sales, maintenance revenues from previously sold perpetual licenses, and hosting revenues, totaled $2.6 million, or 63% of total revenues, representing an increase of $0.5 million, or 21%, over the three months ended June 30, 2011. Non-recurring revenues, comprised of perpetual license sales and revenues from professional services for system implementations, enhancements, and training, totaled $1.5 million, or 37% of total revenues, which was flat compared to the $1.6 million recognized during the three months ended June 30, 2011. The increase in recurring revenues year over year resulted primarily from new subscription license customers reflecting the shift in business focus and strategy to emphasize our cloud-based solutions.
Recurring revenues. Recurring revenues consist of subscription license sales, maintenance revenues from previously sold perpetual licenses, and hosting revenues. Our recurring revenues during the three months ended June 30, 2012 increased by $0.5 million, or 21%, year over year primarily due to new subscription license customers. This is a reflection in the shift in business focus and strategy to emphasize our cloud-based solutions.
Recurring cost of revenues. Recurring cost of revenues consist of costs associated with supporting our data center, a fixed allocation of our research and development costs, and salaries and related expenses of our support organization. During the three months ended June 30, 2012, recurring cost of revenues increased $0.1 million, or 30%, compared to the three months ended June 30, 2011 primarily due to an increase in license and support costs in our data center, higher compensation expenses in our support organization, and a higher allocation of R&D costs.
Gross profit was $2.6 million, or 63% of revenues, during the three months ended June 30, 2012, compared with $2.5 million, or 66% of revenues, during the three months ended June 30, 2011. This decrease in gross profit percentage resulted from higher non-recurring cost of revenues primarily due to the increase in the use of third-party consultants used for our system implementations.
Sales and marketing expenses consist primarily of salaries and related costs for our sales and marketing organization, sales commissions, expenses for travel and entertainment, trade shows, public relations, collateral sales materials, advertising and certain allocated expenses. For the three months ended June 30, 2012, sales and marketing expenses increased $0.3 million, or 29%, compared to the same period in 2011. The increase is primarily due to increased sales and marketing headcount, our 2012 annual Fusion conference, our recently updated website and new logo, as well as other trade show expenses.
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