PGI » Topics » RESULTS OF OPERATIONS

These excerpts taken from the PGI 10-K filed Mar 2, 2009.

Results of Operations

     The following table presents the percentage relationship of our consolidated statements of operations line items to our consolidated net revenues for the periods indicated:

  Year Ended December 31,
 
  2008    2007   2006  
 
 
 
 
 
Net revenues 100.0 %   100.0 % 100.0 %
 
Operating expenses:              
       Cost of revenues (exclusive of depreciation and amortization 41.1     40.6   40.5  
       shown separately below)              
       Selling and marketing 24.6     25.2   26.7  
       General and administrative (exclusive of net legal settlements shown              
               separately below) 10.6     11.8   11.8  
       Research and development 2.7     2.5   2.4  
       Excise tax expense 0.5        
       Depreciation 5.3     5.4   4.9  
       Amortization 2.5     2.8   2.6  
       Restructuring costs 0.5     0.6   1.7  
       Asset impairments 0.7        
       Net legal settlements and related expenses 0.4     0.1   0.1  
 
   
 
 
               Total operating expenses 88.9     89.0   90.7  
 
   
 
 
Operating income 11.1     11.0   9.3  
 
   
 
 
 
Other (expense) income:              
       Interest expense (3.1 )   (2.4 ) (1.8 )
       Unrealized loss on change in fair value of interest rate swaps     (0.8 )  
       Interest income 0.1     0.1   0.1  
       Other, net 0.1     0.3   0.3  
 
   
 
 
               Total other (expense) income (2.9 )   (2.8 ) (1.4 )
 
   
 
 
 
Income before income taxes 8.2     8.2   7.9  
Income tax expense 2.4     2.7   2.8  
 
   
 
 
Net income 5.8 %   5.5 % 5.1 %
 
   
 
 

28


Results of Operations


     The following table presents the percentage relationship of our consolidated statements of operations line items to our consolidated net revenues for the periods indicated:







































































































































































































































































































































































































































































  Year Ended December 31,
 



  2008    2007   2006  
 



 



 



 
 
Net revenues 100.0 %   100.0 % 100.0 %
 
Operating expenses:              
       Cost of revenues (exclusive of depreciation and amortization 41.1     40.6   40.5  
       shown separately below)              
       Selling and marketing 24.6     25.2   26.7  
       General and administrative (exclusive of net legal settlements shown              
               separately below) 10.6     11.8   11.8  
       Research and development 2.7     2.5   2.4  
       Excise tax expense 0.5        
       Depreciation 5.3     5.4   4.9  
       Amortization 2.5     2.8   2.6  
       Restructuring costs 0.5     0.6   1.7  
       Asset impairments 0.7        
       Net legal settlements and related expenses 0.4     0.1   0.1  
 



   



 



 
               Total operating expenses 88.9     89.0   90.7  
 



   



 



 
Operating income 11.1     11.0   9.3  
 



   



 



 
 
Other (expense) income:              
       Interest expense (3.1 )   (2.4 ) (1.8 )
       Unrealized loss on change in fair value of interest rate swaps     (0.8 )  
       Interest income 0.1     0.1   0.1  
       Other, net 0.1     0.3   0.3  
 



   



 



 
               Total other (expense) income (2.9 )   (2.8 ) (1.4 )
 



   



 



 
 
Income before income taxes 8.2     8.2   7.9  
Income tax expense 2.4     2.7   2.8  
 



   



 



 
Net income 5.8 %   5.5 % 5.1 %
 



   



 



 





28






This excerpt taken from the PGI 10-Q filed Nov 7, 2008.

RESULTS OF OPERATIONS

     The following table presents certain financial information about our segments for the periods presented (in millions, except percent amounts):

  Three Months Ended
September 30,
  Nine Months Ended
September 30,
  2008   2007
(As restated)
  2008   2007
                    (As restated)
 
 
 
 
Net Revenues:                              
       North America $ 96.9      $ 89.8       $ 289.0     $ 265.8  
       Europe   30.9       24.4       94.2       74.7  
       Asia Pacific   29.6       25.6       88.6       73.0  
 
   
   
   
 
       Consolidated $ 157.4     $ 139.8     $ 471.8     $ 413.5  
 
   
   
   
 
Net Income:                              
       North America $ 7.0     $ 4.7     $ 15.1     $ 13.6  
       Europe   1.5       1.2       7.8       5.4  
       Asia Pacific   2.3       1.8       5.4       3.5  
 
   
   
   
 
       Consolidated $ 10.8     $ 7.7     $ 28.3     $ 22.5  
 
   
   
   
 
Percent of Consolidated Net Revenues:                              
       North America   61.6 %     64.2 %     61.2 %     64.3 %
       Europe   19.6 %     17.5 %     20.0 %     18.1 %
       Asia Pacific   18.8 %     18.3 %     18.8 %     17.6 %
 
   
   
   
 
       Consolidated   100.0 %     100.0 %     100.0 %     100.0 %
 
   
   
   
 
This excerpt taken from the PGI 10-Q filed Oct 14, 2008.

RESULTS OF OPERATIONS

     The following table presents certain financial information about our segments for the periods presented (in millions, except percent amounts):

  Three Months Ended
June 30,

Six Months Ended
June 30,

  2008
(As restated)
2007
 
2008
(As restated)
2007
  
Net Revenues:                
       North America $  97.1   $  88.1   $192.1   $176.1  
       Europe 33.4   25.3   63.3   50.2  
       Asia Pacific 31.1   24.6   59.0   47.3  
 
 
 
 
 
       Consolidated $161.6   $138.0   $314.4   $273.6  
 
 
 
 
 
Net Income:                
       North America $    4.1   $    2.2   $    8.2   $    8.9  
       Europe 2.4   2.6   6.3   4.3  
       Asia Pacific 2.0   1.0   3.1   1.6  
 
 
 
 
 
       Consolidated $    8.5   $    5.8   $  17.6   $  14.8  
 
 
 
 
 
Percent of Consolidated Revenues:                
       North America 60.1 % 63.8 % 61.1 % 64.3 %
       Europe 20.6 % 18.4 % 20.1 % 18.4 %
       Asia Pacific 19.3 % 17.8 % 18.8 % 17.3 %
 
 
 
 
 
       Consolidated 100.0 % 100.0 % 100.0 % 100.0 %
 
 
 
 
 

This excerpt taken from the PGI 10-Q filed Oct 14, 2008.

RESULTS OF OPERATIONS

     The following table presents certain financial information about our segments for the periods presented (in millions):

  Three Months Ended
March 31,
  2008
(As restated)
2007

Net Revenues:        
       North America $ 95.0 $ 88.0
       Europe   30.0   24.9
       Asia Pacific   27.9   22.7


  $ 152.9 $ 135.6


Net Income:        
       North America $ 4.0 $ 6.6
       Europe   3.9   1.7
       Asia Pacific   1.1   0.6


  $ 9.0 $ 8.9


This excerpt taken from the PGI 10-Q filed May 9, 2008.

RESULTS OF OPERATIONS

     The following table presents certain financial information about our segments for the periods presented (in millions):

  Three Months Ended
March 31,

  2008
2007
Net Revenues:        
       North America $  95.0   $  88.0  
       Europe 30.0   24.9  
       Asia Pacific 27.9   22.7  
 
 
 
  $152.9   $135.6  
 
 
 
Net Income:        
       North America $    7.0   $    6.6  
       Europe 3.9   1.7  
       Asia Pacific 1.1   0.6  
 
 
 
  $  12.0   $    8.9  
 
 
 

This excerpt taken from the PGI 10-Q filed Aug 9, 2007.

RESULTS OF OPERATIONS

        Beginning in the fourth quarter of 2006, we realigned our reporting segments to be consistent with the way we now manage our operations on a geographic regional basis. Our new management structure is a matrix organization with single functional management worldwide and regional management in our current reportable segments in North America, Europe and Asia Pacific. As a result, we no longer report our financial results under our former Conferencing & Collaborations and Data Communications business segments. We have reclassified prior year results in this report to conform to our new geographic segment presentation. Our unallocated corporate costs are included in our North America segment.

        The following table presents certain financial information about our segments for the periods presented (in millions), with amortization expense and asset impairments allocated to the appropriate geographic segment:

Three Months Ended
June 30,

Six Months Ended
June 30,

2007
2006
2007
2006
Revenues:        
Revenues from continuing operations:
    North America $  88.1   $  80.3   $176.1   $159.6  
    Europe 25.3   24.3   50.2   47.3  
    Asia Pacific 24.6   21.0   47.3   40.4  
 
 
 
 
 
  $138.0   $125.6   $273.6   $247.3  
 
 
 
 
 
Income:
Income from continuing operations:
    North America $    2.0   $    4.2   $    8.3   $  10.3  
    Europe 2.7   0.6   4.6   2.0  
    Asia Pacific 1.1   1.2   1.9   1.4  
 
 
 
 
 
  $    5.8   $    6.0   $  14.8   $  13.7  
 
 
 
 
 
This excerpt taken from the PGI 10-Q filed May 10, 2007.

RESULTS OF OPERATIONS

     Beginning in the fourth quarter of 2006, we realigned our reporting segments to be consistent with the way we now manage our operations on a geographic regional basis. Our new management structure is a matrix organization with single functional management worldwide and regional management in our current reportable segments in North America, Europe and Asia Pacific. As a result, we no longer report our financial results under our former Conferencing & Collaborations and Data Communications business segments. We have reclassified prior year results in this report to conform to our new geographic segment presentation. Our unallocated corporate costs are included in our North America segment.

     The following table presents certain financial information about our segments for the periods presented (in millions), with amortization expense and asset impairments allocated to the appropriate geographic segment:

    Three Months Ended
    March 31,
    2007   2006
Revenues:            
Revenues from continuing operations:            
       North America   $ 88.0   $ 79.5
       Europe     24.9     23.0
       Asia Pacific     22.7     19.2
    $ 135.6   $ 121.7
Income:            
Income from continuing operations:            
       North America   $ 6.4   $ 6.1
       Europe     1.8     1.4
       Asia Pacific     0.7     0.2
    $ 8.9   $ 7.7
             
Revenues            

     Consolidated revenues from continuing operations increased 11.4% to $135.6 million for the three months ended March 31, 2007 compared with $121.7 million for the same period in 2006.

     For the three months ended March 31, 2007 and 2006, North America revenue was 64.9% and 65.3% of consolidated revenues, respectively. For the three months ended March 31, 2007 and 2006, North America experienced a 10.7% increase in revenue from $79.5 million to $88.0 million. This increase in revenue was attributable primarily to organic growth in our Conferencing Solutions and the acquisitions of Accucast and Enunciate, offset by declines in our broadcast fax revenue. Our Conferencing Solutions revenue in North America was approximately $65.8 million and $53.4 million for the three months ended March 31, 2007 and 2006, respectively. Our broadcast fax revenue in North America was approximately $5.4 million and $8.1 million for the three months ended March 31, 2007 and 2006, respectively.

     For the three months ended March 31, 2007 and 2006, Europe revenue was 18.4% and 18.9% of consolidated revenues, respectively. For the three months ended March 31, 2007 and 2006, Europe experienced an 8.2% increase in revenue from $23.0 million to $24.9 million. This increase in revenue was attributable primarily to

17


organic growth in our Conferencing Solutions and the strengthening of the Euro and British Pound to the U.S. dollar, offset by declines in our broadcast fax revenues. Fluctuations in foreign exchange rates resulted in revenue growth of approximately $2.1 million for the comparable periods. Our Conferencing Solutions revenue in Europe was approximately $10.0 million and $7.1 million for the three months ended March 31, 2007 and 2006, respectively. Our broadcast fax revenue in Europe was approximately $6.4 million and $7.9 million for the three months ended March 31, 2007 and 2006, respectively.

     For the three months ended March 31, 2007 and 2006, Asia Pacific revenue was 16.8% and 15.8% of consolidated revenues, respectively. For the three months ended March 31, 2007 and 2006, Asia Pacific experienced an 18.2% increase in revenue from $19.2 million to $22.7 million. This increase in revenue was attributable primarily to organic growth in our Conferencing Solutions, growth in our maritime Notifications & Reminders solution (which we resale from a third party to shipping companies in this region) and the acquisition of ECT, offset by declines in our broadcast fax revenues. Our Conferencing Solutions revenue in Asia Pacific was approximately $9.1 million and $6.3 million for the three months ended March 31, 2007 and 2006, respectively. Our broadcast fax revenue in Asia Pacific was approximately $7.9 million and $8.6 million for the three months ended March 31, 2007 and 2006, respectively.

This excerpt taken from the PGI 10-Q filed May 9, 2006.

RESULTS OF OPERATIONS

     The following table presents selected financial information regarding our operating segments for the periods presented (in millions):

  Three Months Ended  
  March 31,  





 
  2006   2005  


 

 
Revenues:       
Revenues from continuing operations:       
       Data Communications  $  54.9   $ 65.3  
       Conferencing & Collaboration    66.8   62.0  


 

 
  $  121.7   $ 127.3  


 

 
Income (loss):       
Income (loss) from continuing operations:       
       Data Communications  $  1.4   $ 6.0  
       Conferencing & Collaboration    8.2   9.5  
       Unallocated corporate costs    (1.9 )  (2.4 ) 


 

 
  $ 7.7   $ 13.1  


 

 

     The following table presents selected financial information regarding our geographic regions for the periods presented (in millions):

  Three Months Ended   
  March 31,   





 
  2006    2005   




 
Revenues from continuing operations:         
       North America  $ 79.3    $ 81.8   
       Europe  23.0    26.8   
       Asia Pacific  19.4    18.7   


 

 
  $ 121.7    $ 127.3   


 

 
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki