01—Abstract
Summary
Summary of the 10-K/A filed June 24, 2011. Cited figures are marked; the original filing is the authoritative source.
This filing is an amendment (10-K/A) to Salesforce, Inc.'s Annual Report on Form 10-K for the period ended January 31, 2011.
The amendment exclusively concerns the filing of revised exhibits (10.18, 10.19, and 10.20) following the conclusion of a confidential treatment process. Importantly, no revisions have been made to the company's financial statements, nor does this amendment reflect any events occurring after the original filing date of March 23, 2011. For investors, this means the core financial health and operational disclosures from the original 10-K remain unchanged.
The update is administrative in nature, related to specific real estate purchase agreements. Investors should refer to the original March 23, 2011 Form 10-K for comprehensive financial and business insights into Salesforce's performance and strategic positioning as of that date.
02—Key points
Key Highlights
- Amendment 10-K/A filed on June 23, 2011, for the period ending January 31, 2011.
- The filing is an exhibit-only amendment, specifically updating Exhibits 10.18, 10.19, and 10.20.
- These updated exhibits relate to Agreements of Purchase and Sale and Joint Escrow Instructions dated October 21, 2010.
- No financial statements or other disclosures within the original Form 10-K are revised by this amendment.
- This amendment does not reflect any events or developments occurring after the original Form 10-K filing date of March 23, 2011.
- The amendment pertains to the conclusion of a confidential treatment process for these specific exhibits.
- Signatories include CEO Marc Benioff and CFO Graham Smith, confirming the filing date of June 24, 2011.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2011, Salesforce, Inc. kept $0.04.
- Revenue$1.66B100.0%
- Cost of revenue−$323.8M19.5%
- Gross profit$1.33B80.5%
- Operating costs−$1.24B74.6%
- Operating income$97.5M5.9%
- Interest, other & tax−$33.0M2.0%
- Net income$64.5M3.9%
Where FY2011 revenue went
$1.66B- Other operating costs: $1.05B, 63% of revenue
- Cost of revenue: $323.8M, 20% of revenue
- Net income: $64.5M, 3.9% of revenue
- R&D: $187.9M, 11% of revenue
- Interest, other & tax: $33.0M, 2.0% of revenue
Kept 3.9% as net incomeNet income $64.5M · 3.9%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2011filed June 24, 2011Financial Statements
FY2011 against FY2010
| Line item | FY2011FY2010 | Change |
|---|---|---|
| Revenue | $1.66B$1.31B | +26.9% |
| Cost of Revenue | $323.81M$257.93M | +25.5% |
| Gross Profit | $1.33B$1.05B | +27.3% |
| R&D Expenses | $187.89M$131.90M | +42.4% |
| Operating Expenses | $1.24B$932.39M | +32.5% |
| Operating Income | $97.50M$115.27M | −15.4% |
| Interest Expense | $24.91M$2.00M | +1145.5% |
| Net Income | $64.47M$80.72M | −20.1% |
| EPS (Basic) | $0.13$0.16 | −23.1% |
| EPS (Diluted) | $0.12$0.16 | −25.4% |
| Shares Outstanding (Basic) | 520.89M497.85M | +4.6% |
| Shares Outstanding (Diluted) | 546.39M512.46M | +6.6% |
05—Questions
Frequently Asked Questions
What is the primary purpose of this 10-K/A filing?
The primary purpose of this filing is to amend the original Form 10-K by providing revised versions of Exhibits 10.18, 10.19, and 10.20. This was done after the confidential treatment for these specific exhibits concluded.
Are there any changes to Salesforce's financial performance or statements in this amendment?
No, this amendment explicitly states that no revisions are being made to the company's financial statements. It also clarifies that it does not reflect events occurring after the original Form 10-K filing date of March 23, 2011.
What do Exhibits 10.18, 10.19, and 10.20 pertain to?
These exhibits are identified as 'Agreement of Purchase and Sale and Joint Escrow Instructions' dated October 21, 2010, involving various entities related to real estate transactions (e.g., ARE-San Francisco, Bay Jacaranda).
Should investors treat this filing as an update on Salesforce's current business operations?
No, this filing is an administrative update concerning specific legal exhibits and does not contain new financial or operational information beyond what was disclosed in the original Form 10-K filed on March 23, 2011. Investors should refer to the original filing for business and financial insights.
06—Continue