Rochester,NY 8/28/2009 8:56:37 PM
Salesforce.com,Inc. CRM, Reports Operating Results (10-Q)
Salesforce.com,Inc.
salesforce.com inc. (CRM) filed Quarterly Report for the period ended 2009-07-31.
During the six months ended July 31, 2009, the company deferred $25.0 million of commission expenditures and amortized $30.3 million to sales expense. During the same period a year ago, the company deferred $26.9 million of commission expenditures and amortized $28.6 million to sales expense. Deferred commissions on the condensed consolidated balance sheet totaled $51.8 million at July 31, 2009 and $57.1 million at January 31, 2009.
As of July 31, 2009, the company had an aggregate of $212.1 million of stock compensation remaining to be amortized to expense over the remaining requisite service period of the underlying awards. It currently expect this stock compensation balance to be amortized as follows: $51.0 million during the remaining six months of fiscal 2010; $83.6 million during fiscal 2011; $56.9 million during fiscal 2012; $20.1 million during fiscal 2013; and $0.5 million during fiscal 2014. These amounts reflect only outstanding stock awards as of July 31, 2009 and assume no forfeiture activity. The company expect to continue to issue share-based awards to its employees in future periods.
The deferred cost on our condensed consolidated balance sheet totaled $16.3 million at July 31, 2009 and $17.3 million at January 31, 2009. Such amounts are included in prepaid expenses and other current assets and other assets, net.
Salesforce.com Inc. has a market cap of $6.52 billion; its shares were traded at around $52.78 with a P/E ratio of 101.5 and P/S ratio of 6.1.
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