Agent Information Software (Agent Information Software) Operating Income : $0.36 Mil (TTM As of Dec. 2003)

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What is Agent Information Software Operating Income?

Agent Information Software's Operating Income for the three months ended in Dec. 2003 was $0.04 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2003 was $0.36 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Agent Information Software's Operating Income for the three months ended in Dec. 2003 was $0.04 Mil. Agent Information Software's Revenue for the three months ended in Dec. 2003 was $1.33 Mil. Therefore, Agent Information Software's Operating Margin % for the quarter that ended in Dec. 2003 was 2.78%.

Agent Information Software's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Agent Information Software's annualized ROC % for the quarter that ended in Dec. 2003 was 3.05%. Agent Information Software's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2003 was 4.20%.

Agent Information Software Operating Income Historical Data

The historical data trend for Agent Information Software's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Agent Information Software Operating Income Chart

Agent Information Software Annual Data

Trend

Dec99

Dec00

Dec01

Dec02

Dec03

Operating Income

0.37

-1.33

-1.81

0.34

0.37

Agent Information Software Quarterly Data
	Dec99	Mar00	Jun00	Sep00	Dec00	Mar01	Jun01	Sep01	Dec01	Mar02	Jun02	Sep02	Dec02	Mar03	Jun03	Sep03	Dec03
Operating Income	Get a 7-Day Free Trial												0.25	0.12	0.11	0.10	0.04

Agent Information Software Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2003 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.36 Mil.

Agent Information Software (OTCPK:AIFS) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Agent Information Software's annualized ROC % for the quarter that ended in Dec. 2003 is calculated as:

	ROC % (Q: Dec. 2003 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2003 )	+	Invested Capital (Q: Dec. 2003 ))	/ count )
=	0.148 * ( 1 - -5.26% )	/	( (5.386	+	4.835)	/ 2 )
=	0.1557848	/	5.1105
=	3.05 %

where

	Invested Capital		(Q: Sep. 2003 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	4.18	-	0.075	-	( 0.097	-	max(0, 1.774	-	0.493	+	0.097	))
=	5.386

	Invested Capital		(Q: Dec. 2003 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	4.164	-	0.084	-	( 0.011	-	max(0, 1.34	-	0.585	+	0.011	))
=	4.835

Note: The Operating Income data used here is four times the quarterly (Dec. 2003) data.

2. Joel Greenblatt's definition of Return on Capital:

Agent Information Software's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2003 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2003 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2003		Q: Dec. 2003
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0.148	/	( ( (3.592 + max(-1.353, 0))	+	(3.46 + max(-0.737, 0)) )	/	2 )
=	0.148	/	( ( 3.592	+	3.46 )	/	2 )
=	0.148	/	3.526
=	4.20 %

where Working Capital is:

	Working Capital		(Q: Sep. 2003 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.185	+	0	+	0.211)	-	(0.075	+	1.154	+	0.52)
=	-1.353

	Working Capital		(Q: Dec. 2003 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.389	+	0	+	0.185)	-	(0.084	+	0.842	+	0.385)
=	-0.737

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2003) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Agent Information Software's Operating Margin % for the quarter that ended in Dec. 2003 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2003 )	/	Revenue (Q: Dec. 2003 )
	=	0.037	/	1.329
	=	2.78 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Agent Information Software Operating Income Related Terms

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Agent Information Software (Agent Information Software) Business Description

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Traded in Other Exchanges

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Address

760 East Francis Street, Units C & D, Ontario, CA, USA, 91761

Website

https://www.auto-graphics.com

Agent Information Software Inc provides software products and services that create, manage, publish, and access information content through the Internet or the web. The company offers data automation solutions to customers across multiple industries. Additionally, it also renders software as a service (SaaS), database subscriptions, software maintenance, and support contract services. The Company derives its revenues from various software subscriptions, maintenance and support services, licensing and other non-recurring services.