GSIT » Topics » Selling, General and Administrative Expenses.

These excerpts taken from the GSIT 10-Q filed Feb 12, 2009.
Selling, General and Administrative Expenses.  Selling, general and administrative expenses consist primarily of commissions paid to independent sales representatives, salaries, stock-based compensation and related expenses for personnel engaged in sales, marketing, administrative, finance and human resources activities, professional fees, costs associated with the promotion of our products and other corporate expenses.  We expect that our sales and marketing expenses will increase in absolute dollars in future periods as we continue to grow and expand our sales force but that, to the extent our revenues increase in future periods, these expenses will generally decline as a percentage of net revenues. We also expect that, in support of our continued growth and our operations as a public company, general and administrative expenses will continue to increase in absolute dollars for the foreseeable future but will fluctuate as a percentage of net revenues.

 

Selling, General and Administrative Expenses.  Selling, general and administrative expenses decreased 11.5% from $2.5 million in the three months ended December 31, 2007 to $2.2 million in the three months ended December 31, 2008.  This decrease was primarily due to a decrease in outside consulting expenses  of $342,000 related to implementation and maintenance of our new enterprise resource planning (“ERP”) system and Sarbanes—Oxley Act compliance partially offset by an increase of $98,000 in payroll related expenses .  Selling, general and administrative expenses included stock-based compensation expense of $150,000 and $184,000 for the three months ended December 31, 2008 and 2007, respectively.  Selling, general and administrative expenses increased 3.4% from $6.8 million in the nine months ended December 31, 2007 to $7.0 million in the nine months ended December 31, 2008.  This increase was primarily related to increases of $353,000 in payroll related expenses and $262,000 in commissions for our independent sales representatives, partially offset by reductions in legal expenses, outside consulting expenses and stock-based compensation. Selling, general and administrative expenses included stock-based compensation expense of $442,000 and $541,000 for the nine months ended December 31, 2008 and 2007, respectively.

 

This excerpt taken from the GSIT 10-Q filed Nov 12, 2008.
Selling, General and Administrative Expenses.  Selling, general and administrative expenses increased 11.7% from $2.1 million in the three months ended September 30, 2007 to $2.4 million in the three months ended September 30, 2008.  This increase was primarily due to increases of $124,000 in payroll related expenses, $111,000 in commissions for our independent sales representatives and lesser increases in outside accounting fees and taxes and licenses expenses.  These increases were partially offset by decreases in outside legal fees, stock-based compensation and printing costs.  Selling, general and administrative expenses included stock-based compensation expense of $141,000 and $182,000 for the three months ended September 30, 2008 and 2007, respectively.  Selling, general and administrative expenses increased 12.0% from $4.3 million in the six months ended September 30, 2007 to $4.8 million in the six months ended September 30, 2008.  This increase was primarily related to increases of $267,000 in commissions for our independent sales representatives, $259,000 in payroll related expenses, $192,000 in consulting fees related to implementation and maintenance of our new enterprise resource planning (“ERP”) system and Sarbanes–Oxley Act compliance, partially offset by reductions in legal expenses and stock-based compensation. Selling, general and administrative expenses included stock-based compensation expense of $292,000 and $356,000 for the six months ended September 30, 2008 and 2007, respectively.

 

This excerpt taken from the GSIT 10-Q filed Aug 8, 2008.
Selling, General and Administrative Expenses.  Selling, general and administrative expenses increased 12.3% from $2.2 million in the three months ended June 30, 2007 to $2.5 million in the three months ended June 30, 2008.  This increase was primarily due to increases of $198,000 in consulting fees related to implementation and maintenance of our new enterprise resource planning (“ERP”) system, $155,000 in commissions for our independent sales representatives and a lesser increase in payroll related expenses offset primarily by decreases in outside accounting fees and legal fees.  Selling, general and administrative expenses included stock-based compensation expense of $151,000 and $174,000 for the three months ended June 30, 2008 and 2007, respectively.

 

This excerpt taken from the GSIT 10-Q filed Feb 11, 2008.
Selling, General and Administrative Expenses.  Selling, general and administrative expenses increased 42.4% from $1.7 million in the three months ended December 31, 2006 to $2.5 million in the three months ended December 31, 2007.  This increase was primarily related to increases of $320,000 in consulting fees related to implementation of our new enterprise resource planning (“ERP”) system and $165,000 in fees related to compliance with the Sarbanes-Oxley Act of 2002.  Selling, general and administrative expenses included stock-based compensation expense of $184,000 and $203,000 for the three months ended December 31, 2007 and 2006, respectively.  Selling, general and administrative expenses increased 52.8% from $4.4 million in the nine months ended December 31, 2006 to $6.8 million in the nine months ended December 31, 2007.  Major contributors to the increased selling, general and administrative expenses in the nine month periods were increases in outside accounting fees, outside legal expenses, outside consultant fees, insurance expenses and stock-based compensation costs.  Most of the increases in outside accounting fees, legal fees, insurance costs and consulting expenses during the fiscal 2007 periods were related to our becoming a public company.  Stock-based compensation costs of $541,000 and $284,000 were included in selling, general and administrative expenses for the nine months ended December 31, 2007 and 2006, respectively.

 

This excerpt taken from the GSIT 10-Q filed Nov 13, 2007.
                Selling, General and Administrative Expenses.  Selling, general and administrative expenses consist primarily of commissions paid to independent sales representatives, salaries, stock-based compensation and related expenses for personnel engaged in sales, marketing, administrative, finance and human resources activities, professional fees, costs associated with the promotion of our products and other corporate expenses.  We expect that our sales and marketing expenses will increase in absolute dollars in future periods as we continue to grow and expand our sales force but that, to the extent our revenues increase in future periods, these expenses will generally decline as a percentage of net revenues. We also expect that, in support of our continued growth and our operations as a public company, general and administrative expenses will continue to increase in absolute dollars for the foreseeable future but will fluctuate as a percentage of net revenues.

 

This excerpt taken from the GSIT 10-Q filed Aug 10, 2007.
Selling, General and Administrative Expenses.  Selling, general and administrative expenses increased 65.9% from $1.3 million in the three months ended June 30, 2006 to $2.2 million in the three months ended June 30, 2007.  This increase was primarily related to increases of $214,000 in outside accounting fees, $209,000 in outside legal fees, $129,000 in stock-based compensation costs,  $94,000 in outside consultant costs and lesser increases in payroll related expenses, insurance costs and travel expenses, partially offset by a decrease in commissions paid to manufacturers’ representatives.  Most of the increases in outside accounting fees, legal fees, insurance costs and consulting expenses were related to our becoming a public company with the closing of our initial public offering on April 3, 2007.  Selling, general and administrative expenses included stock-based compensation expense of $174,000 and $45,000 for the first quarter of fiscal 2008 and 2007, respectively.

This excerpt taken from the GSIT 10-K filed Jun 20, 2007.
Selling, General and Administrative Expenses.   Selling, general and administrative expenses decreased by 16.7% from $5.8 million in fiscal 2005 to $4.8 million for fiscal 2006. This decrease was primarily related to the write-off in fiscal 2005 of $962,000 in costs incurred in 2004 in connection with a planned initial public offering of our common stock, which was not consummated, and a decrease in commissions paid to manufacturers’ representatives, partially offset by increased payroll related expenses.

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