MOLX » Topics » Selling, General and Administrative Expenses

This excerpt taken from the MOLX 10-Q filed Oct 31, 2006.

Selling, General and Administrative Expenses


Selling, general and administrative expenses for the three months ended September 30, 2006 improved as a percent of net revenue over the prior year quarter primarily due to leverage of fixed selling, general and administrative costs on higher revenue and a lower cost structure resulting from our 2005 restructuring initiative. Additionally, the prior year included bad debt expense of approximately $5.7 million in connection with an account receivable from an automotive customer that filed for bankruptcy. The impact of currency translation increased selling, general and administrative expenses by approximately $1.6 million for the three months ended September 30, 2006.


Research and development expenditures, which are classified as selling, general and administrative expense, increased to $41 million, or 4.9% of net revenue, for the three months ended September 30, 2006, a percentage comparable with the prior year period.  


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This excerpt taken from the MOLX 10-K filed Aug 3, 2006.

Selling, General and Administrative Expenses


The Cinch acquisition added incremental selling, general and administrative expenses of approximately $16.0 million as compared with the prior year.  The currency translation impact further increased selling, general and administrative expenses by approximately $16.9 million.  Also, in connection with the resignation of our former auditor, responses to SEC comment inquiries, and internal investigations authorized by our Audit Committee, we estimate that legal, accounting and other costs during fiscal 2005 increased by approximately $9.9 million.  Research and development expenditures for the year increased $14.6 million to $133.6 million, or 5.2% of net revenue, compared with 5.3% of net revenue last year.


Research and development expenditures in fiscal 2005 contributed to the release of approximately 384 new products during the year.  In fiscal 2005, 30% of net revenue was derived from the sale of products we released within the last three years. We continued our long-term commitment to reinvesting our profits in new product design and tooling to maintain and enhance our competitive position.  We were granted 775 new patents during the year, an increase of 36% over the prior year.


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Also included in the results for fiscal 2005 are corrections of errors that increased selling, general and administrative expense by $1.5 million.  See Note 21 to the “Notes to Consolidated Financial Statements” for further discussion.


This excerpt taken from the MOLX 10-Q filed May 2, 2006.

Selling, General and Administrative Expenses


Effective in the 2006 fiscal year, we adopted Statement of Financial Accounting Standard (SFAS) No. 123(R), “Share-based Payments,” which resulted in additional compensation expense of approximately $3.9 million and $9.9 million for the three and nine months ended March 31, 2006, respectively. Total share-based compensation recorded in the Condensed Consolidated Statements of Income was $7.6 million and $20.3 million for the three and nine months ended March 31, 2006 compared with $3.0 million and $10.5 million for the prior year periods (see Note 3 of the “Notes to the Condensed Consolidated Financial Statements”).  


Selling, general and administrative expenses for the nine months ended March 31, 2006 included bad debt expense of approximately $3.2 million in connection with an account receivable from an automotive customer that filed for bankruptcy. The impact of currency translation increased selling, general and administrative expenses by approximately $6.9 million and $9.5 million for the three and nine months ended March 31, 2006.


Research and development expenditures, which are classified as selling, general and administrative expense, increased to $105.2 million, or 5.1% of net revenue, for the nine months ended March 31, 2006, a percentage comparable with the prior year period.  


This excerpt taken from the MOLX 10-Q filed Feb 2, 2006.

Selling, General and Administrative Expenses


Selling, general and administrative expenses for the six months ended December 31, 2005 included bad debt expense of approximately $3.0 million in connection with an account receivable from an automotive customer that filed for bankruptcy. A provision approximating $5.7 million was recorded for this receivable during the three months ended September 30, 2005, but because we factored this receivable during the three months ended December 31, 2005, bad debt expense was reduced by $2.7 million.


Effective in the 2006 fiscal year, we adopted Statement of Financial Accounting Standard (SFAS) No. 123(R), “Share-based Payments,” which resulted in additional compensation expense of approximately $2.9 million and $6.1 million for three and six months ended December 31, 2005, respectively. Total share-based compensation recorded in the Condensed Consolidated Statements of Income was $6.0 million and $12.7 million for the three and six months ended December 31, 2005 compared with $3.8 million and $7.6 million for the prior year period (see Note 3 of the “Notes to the Condensed Consolidated Financial Statements”).  


Research and development expenditures, which are classified as selling, general and administrative expense, increased to $70.3 million, or 5.2% of net revenue, for the six months ended December 31, 2005, a percentage comparable with the prior year period.  The impact of currency translation decreased selling, general and administrative expenses by approximately $3.6 million and $2.6 million for the three and six months ended December 31, 2005.


This excerpt taken from the MOLX 10-Q filed Nov 4, 2005.

Selling, General and Administrative Expenses


Selling, general and administrative expenses increased primarily as a result of a $5.7 million provision for a potentially uncollectible account receivable from an automotive customer that filed for bankruptcy and the adoption of Statement of Financial Accounting Standard (SFAS) No. 123(R), “Share-based Payments.” The adoption of SFAS No. 123(R), resulted in additional compensation expense of approximately $3.1 million. Total stock-based compensation recorded in the Condensed Consolidated Statements of Income was $6.7 million for the three months ended September 30, 2005 compared to $3.8 million for the prior year period (see Note 4 of the “Notes to the Condensed Consolidated Financial Statements”).  Research and development expenditures increased $1.2 million to $34.6 million, or 5.2% of net revenue, for the three months ended September 30, 2005, a percentage comparable to the prior year period.  The impact of currency translation increased selling, general and administrative expenses by approximately $0.9 million.


This excerpt taken from the MOLX 10-K filed Sep 12, 2005.

Selling, General and Administrative Expenses

Selling, general and administrative expenses were $555.6 million. Foreign currency translation increased selling, general and administrative expenses by approximately $23 million.

Research and development expenditures were $119.0 million, or 5.3% of net revenue, during fiscal 2004, compared with $117.0 million, or 6.3% of net revenue, in the prior year. During fiscal 2004, the Company adopted a more narrow definition of research and development. This change had the effect of reducing reported research and development spending in fiscal 2004 by approximately $18 million compared with the prior year.

Research and development expenditures in fiscal 2004 contributed to the release of 415 new products during the year. In fiscal 2004, 25.1% of net revenue was derived from the sale of products released by the Company within the last three years. Molex continued its long-term commitment to reinvesting its profits in new product design and tooling to maintain and enhance the Company’s competitive position. The Company was granted 568 new patents during the year.

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