TigerLogic Corp. (TIGR, Financial) filed Quarterly Report for the period ended 2009-12-31.
Tigerlogic Corp. has a market cap of $90.5 million; its shares were traded at around $3.25 with and P/S ratio of 5.6. TIGR is in the portfolios of Tom Russo of Gardner Russo & Gardner.
SELLING AND MARKETING. Selling and marketing expense consists primarily of salaries, benefits, advertising, tradeshows, travel and overhead costs for our sales and marketing personnel. Selling and marketing expense for the three month period ended December 31, 2009 increased $0.1 million or 6% when compared to the same period in prior year due to higher marketing expense relating to our 2009 Pick Worldwide User Conference held in November 2009 and participation in various tradeshows, partially offset by lower personnel expense due to lower headcount. Selling and marketing expense for the nine month period ended December 31, 2009 decreased $1.4 million or 30% when compared to the same period in the prior year. This decrease was mainly due to lower headcount and marketing expense. Prior periods expenses included expenses related to the introduction of our Tigerlogic Yolink (formerly ChunkIt!) product. We anticipate that selling and marketing costs related to the TigerLogic product line may increase as we further develop the sales channel for these products and if customer acceptance of these products increases. In addition, if our continued research and development efforts are successful, including with respect to our TigerLogic product line, and new products or services are created, we may incur increased sales and marketing expense to promote those new products in future periods.
RESEARCH AND DEVELOPMENT. Research and development expense consists primarily of salaries and other personnel-related expenses and overhead costs for engineering personnel including employees in the US and the UK and contractors in the US. Research and development expense for the three and nine month periods ended December 31, 2009 decreased $0.2 million or 14% and $1.3 million or 22%, respectively, when compared to the same periods in the prior year mainly due to lower headcount and consulting expense related to our Yolink product. We are committed to our research and development efforts and expect research and development expense will remain at the current level in future periods or increase if we believe that additional spending is warranted. Such efforts may not result in additional new products and any new products, including the TigerLogic product line, may not generate sufficient revenue, if any, to offset the research and development expense.
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Tigerlogic Corp. has a market cap of $90.5 million; its shares were traded at around $3.25 with and P/S ratio of 5.6. TIGR is in the portfolios of Tom Russo of Gardner Russo & Gardner.
Highlight of Business Operations:
NET REVENUE. Our revenue is derived principally from two sources: fees from software licensing and fees for post contract technical support. We license our software primarily on a per-CPU, per-server, per-port or per-user basis. Therefore, the addition of CPUs, servers, ports or users to existing systems increases our revenue from our installed base of licensees. Similarly, the reduction of CPUs, servers, ports or users to existing systems decreases our revenue from our installed base of licensees. The timing of orders and customer ordering patterns have resulted in fluctuations in license revenue between quarters and year-to-year. Total revenue decreased $0.7 million or 16% and $2.4 million or 19% for the three and nine month periods ended December 31, 2009, respectively, as compared to the same periods in the prior year, primarily due to lower orders of licenses and reduction or non-renewal of support services from our existing customer base as a result of the current adverse global economic conditions. We anticipate that revenue will continue to be adversely affected until global economic conditions improve.SELLING AND MARKETING. Selling and marketing expense consists primarily of salaries, benefits, advertising, tradeshows, travel and overhead costs for our sales and marketing personnel. Selling and marketing expense for the three month period ended December 31, 2009 increased $0.1 million or 6% when compared to the same period in prior year due to higher marketing expense relating to our 2009 Pick Worldwide User Conference held in November 2009 and participation in various tradeshows, partially offset by lower personnel expense due to lower headcount. Selling and marketing expense for the nine month period ended December 31, 2009 decreased $1.4 million or 30% when compared to the same period in the prior year. This decrease was mainly due to lower headcount and marketing expense. Prior periods expenses included expenses related to the introduction of our Tigerlogic Yolink (formerly ChunkIt!) product. We anticipate that selling and marketing costs related to the TigerLogic product line may increase as we further develop the sales channel for these products and if customer acceptance of these products increases. In addition, if our continued research and development efforts are successful, including with respect to our TigerLogic product line, and new products or services are created, we may incur increased sales and marketing expense to promote those new products in future periods.
RESEARCH AND DEVELOPMENT. Research and development expense consists primarily of salaries and other personnel-related expenses and overhead costs for engineering personnel including employees in the US and the UK and contractors in the US. Research and development expense for the three and nine month periods ended December 31, 2009 decreased $0.2 million or 14% and $1.3 million or 22%, respectively, when compared to the same periods in the prior year mainly due to lower headcount and consulting expense related to our Yolink product. We are committed to our research and development efforts and expect research and development expense will remain at the current level in future periods or increase if we believe that additional spending is warranted. Such efforts may not result in additional new products and any new products, including the TigerLogic product line, may not generate sufficient revenue, if any, to offset the research and development expense.
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