The company continues to experience an increase in
revenue from software applications and service as a percentage of total revenue
and this had a positive impact on gross margins realized during the first
quarter of 2012.
Research and development expenses in the first quarter of
2012 were $14.9 million or 10.1 percent of revenue, compared to $17.4 million
or 10.7 percent of revenue in the same quarter of 2011.
Selling, general and administrative expenses were $42.9
million or 29.1 percent of revenue in the first quarter of 2012 compared to
$44.7 million or 27.5 percent of revenue in the first quarter of 2011. Operating
expenses continued to decrease during the first quarter as a result of
continued cost control and efficiencies across most markets.
Profit increased in the first quarter this year to $2.0
million compared to $0.2 million in the same period in 2011.
Cash and short-term investments totaled $158.2 million at
the end of March 2012 compared to $134.1 million at December 31, 2011. During
the first quarter of 2012, the Company generated $28.7 million of cash flow in
operations.
Accounts receivables decreased by $18.0 million as a
result of the seasonally weaker sales value. In addition, inventory decreased
by an additional $3.6 million and finance lease receivables decreased by $2.6
million.
Aastra enables Enterprises to communicate and collaborate
more efficiently and effectively by offering customers a full range of open
standard IP-based and traditional communications solutions, including
terminals, systems, and applications.
