Moody's Corporate Overview and Financial Outlook
Sales $ Millions
Corporate Overview | MIS Business Conditions | MA Business Conditions | Financial Review and Outlook | Appendix
Strong Growth in Risk Management Software Reflects
Solid Demand from Global Financial Institutions
70
60
50
40
30
20
RMS Sales by Type
Revenue $ Millions
RMS Revenue by Type
70
60
50
40
30
20
2854322
10
10
0
0
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10
1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10
Maintenance
Subscriptions
License and Service
Maintenance ☐ Subscriptions License and Service
>> Mix of one-time and recurring revenue (recurring revenue approximately two thirds of total)
One-time: License and service revenue recognized when implementation projects are
completed, typically 12-24 months after contract
Recurring: Subscription and maintenance revenue recognized over contract periods
» Quarterly revenue tend to be "lumpy", reflecting recognition of revenue as large projects are completed
-
Expect smoother results in 2-3 years, as increased scale leads to higher proportion of recurring
revenue from maintenance on installed base
MOODY'S
MARCH 1, 2011 13View entire presentation