EDGAR Online Inc. (EDGR, Financial) filed Quarterly Report for the period ended 2009-09-30.
EDGAR-Online is the leading commercial provider of free and premium access to U.S. Securities & Exchange Commission (SEC) filings and related businessintelligence on the Internet. EDGAR Online also provides an easy access to many other Web-based information resources that allow both professional and individual investors to expand upon the information found in the SEC's EDGAR (Electronic Data Gathering Analysis and Retrieval) filings. Edgar Online Inc. has a market cap of $40.16 million; its shares were traded at around $1.5 with and P/S ratio of 2.06.
Total cost of revenues for the three months ended September 30, 2009 increased $502, or 78%, to $1,147 from $645 for the three months ended September 30, 2008. The net increase in cost of revenues was primarily due to a $306 increase in payroll related expenses and the addition of $192 of XBRL related production costs which were partially offset by a decrease of $27 in barter expense. Total cost of revenues for the nine months ended September 30, 2009 increased $1,255, or 56%, to $3,479 from $2,224 for the nine months ended September 30, 2008. The net increase in cost of revenues was primarily due to a $789 increase in payroll related expenses and the addition of $553 of XBRL related production costs which were partially offset by a decrease of $105 in barter expense.
Sales and Marketing. Sales and marketing expenses consist primarily of salaries and benefits, sales commissions, advertising expenses, public relations, and costs of marketing materials. Sales and marketing expenses for the three months ended September 30, 2009 decreased $380 or 35%, to $701 from $1,081 for the three months ended September 30, 2008. The net decrease was primarily due to a $224 decrease in payroll related expenses and a $136 decrease in advertising and marketing expenses. Sales and marketing expenses for the nine months ended September 30, 2009 decreased $1,031 or 30%, to $2,450 from $3,481 for the nine months ended September 30, 2008. The net decrease was primarily due to a $735 decrease in payroll related expenses and a $266 decrease in advertising and marketing expenses.
Development. Development expenses, which consist primarily of salaries and benefits and outside development costs, for the three months ended September 30, 2009 decreased $565, or 54%, to $478 from $1,043 for the three months ended September 30, 2008. The decrease was primarily due to a $333 decrease in professional fees and a $232 decrease in payroll costs. Development expenses for the nine months ended September 30, 2009 decreased $1,656, or 53%, to $1,491 from $3,147 for the nine months ended September 30, 2008. The decrease was primarily due to a $704 decrease in professional fees as well an increase in capitalization development costs of $744.
General and Administrative. General and administrative expenses consist primarily of salaries and benefits, insurance, fees for professional services, general corporate expenses and facility expenses. General and administrative expenses for the three months ended September 30, 2009 decreased $200, or 10%, to $1,897 from $2,097 for the three months ended September 30, 2008. The net decrease was primarily due to a $149 decrease in payroll related expenses and a $118 decrease in professional fees which were partially offset by a $35 increase in bad debt expenses and a $32 increase in rent. General and administrative expenses for the nine months ended September 30, 2009 decreased $308, or 5%, to $5,854 from $6,162 for the nine months ended September 30, 2008. The net decrease was primarily due to a $540 decrease in payroll related expenses which was partially offset by a $117 increase in stock compensation expense and a $117 increase in rent.
Depreciation and Amortization. Depreciation and amortization expenses include the depreciation of property and equipment and the amortization of definite lived intangible assets. Depreciation and amortization for the three months ended September 30, 2009 increased $104, or 22%, to $568 from $464 for the three months ended September 30, 2008. Depreciation and amortization for the nine months ended September 30, 2009 increased $204, or 15%, to $1,598 from $1,394 for the nine months ended September 30, 2008. The increases were primarily due to increased capital expenditures and the addition of amortization expense related to capitalized XBRL development costs.
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EDGAR-Online is the leading commercial provider of free and premium access to U.S. Securities & Exchange Commission (SEC) filings and related businessintelligence on the Internet. EDGAR Online also provides an easy access to many other Web-based information resources that allow both professional and individual investors to expand upon the information found in the SEC's EDGAR (Electronic Data Gathering Analysis and Retrieval) filings. Edgar Online Inc. has a market cap of $40.16 million; its shares were traded at around $1.5 with and P/S ratio of 2.06.
Highlight of Business Operations:
Total revenues for the three months ended September 30, 2009 increased 12% to $5,242, from $4,701 for the three months ended September 30, 2008. The net increase in revenues was primarily attributable to a $1,014, or 219%, increase in XBRL filings revenues and a $69, or 3%, increase in data and solutions revenues which were partially offset by a $542, or 25%, decrease in subscriptions revenues. Total revenues for the nine months ended September 30, 2009 decreased 4% to $14,044, from $14,613 for the nine months ended September 30, 2008. The net decrease in revenues was primarily attributable to a $1,540, or 23%, decrease in subscriptions revenues and a $651, or 9%, decrease in data and solutions revenues which were partially offset by a $1,622, or 187%, increase in XBRL filings revenues.Total cost of revenues for the three months ended September 30, 2009 increased $502, or 78%, to $1,147 from $645 for the three months ended September 30, 2008. The net increase in cost of revenues was primarily due to a $306 increase in payroll related expenses and the addition of $192 of XBRL related production costs which were partially offset by a decrease of $27 in barter expense. Total cost of revenues for the nine months ended September 30, 2009 increased $1,255, or 56%, to $3,479 from $2,224 for the nine months ended September 30, 2008. The net increase in cost of revenues was primarily due to a $789 increase in payroll related expenses and the addition of $553 of XBRL related production costs which were partially offset by a decrease of $105 in barter expense.
Sales and Marketing. Sales and marketing expenses consist primarily of salaries and benefits, sales commissions, advertising expenses, public relations, and costs of marketing materials. Sales and marketing expenses for the three months ended September 30, 2009 decreased $380 or 35%, to $701 from $1,081 for the three months ended September 30, 2008. The net decrease was primarily due to a $224 decrease in payroll related expenses and a $136 decrease in advertising and marketing expenses. Sales and marketing expenses for the nine months ended September 30, 2009 decreased $1,031 or 30%, to $2,450 from $3,481 for the nine months ended September 30, 2008. The net decrease was primarily due to a $735 decrease in payroll related expenses and a $266 decrease in advertising and marketing expenses.
Development. Development expenses, which consist primarily of salaries and benefits and outside development costs, for the three months ended September 30, 2009 decreased $565, or 54%, to $478 from $1,043 for the three months ended September 30, 2008. The decrease was primarily due to a $333 decrease in professional fees and a $232 decrease in payroll costs. Development expenses for the nine months ended September 30, 2009 decreased $1,656, or 53%, to $1,491 from $3,147 for the nine months ended September 30, 2008. The decrease was primarily due to a $704 decrease in professional fees as well an increase in capitalization development costs of $744.
General and Administrative. General and administrative expenses consist primarily of salaries and benefits, insurance, fees for professional services, general corporate expenses and facility expenses. General and administrative expenses for the three months ended September 30, 2009 decreased $200, or 10%, to $1,897 from $2,097 for the three months ended September 30, 2008. The net decrease was primarily due to a $149 decrease in payroll related expenses and a $118 decrease in professional fees which were partially offset by a $35 increase in bad debt expenses and a $32 increase in rent. General and administrative expenses for the nine months ended September 30, 2009 decreased $308, or 5%, to $5,854 from $6,162 for the nine months ended September 30, 2008. The net decrease was primarily due to a $540 decrease in payroll related expenses which was partially offset by a $117 increase in stock compensation expense and a $117 increase in rent.
Depreciation and Amortization. Depreciation and amortization expenses include the depreciation of property and equipment and the amortization of definite lived intangible assets. Depreciation and amortization for the three months ended September 30, 2009 increased $104, or 22%, to $568 from $464 for the three months ended September 30, 2008. Depreciation and amortization for the nine months ended September 30, 2009 increased $204, or 15%, to $1,598 from $1,394 for the nine months ended September 30, 2008. The increases were primarily due to increased capital expenditures and the addition of amortization expense related to capitalized XBRL development costs.
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