VRTSE- Intl revenues impaired by acquisitions- $100m+++?
Our international sales are generated primarily through our international sales subsidiaries. International revenue, a majority of which is collectible in foreign currencies, accounted for approximately 36% of our total revenue for the three months ended September 30, 2003 and 33% of our total revenue for the three months ended September 30, 2002. Our international revenue accounted for approximately 35% of our total revenue for the nine months ended September 30, 2003 and 31% of our total revenue for the nine months ended September 30, 2002. Our international revenue increased 35% to $162.3 million for the three months ended
September 30, 2003 from $120.1 million for the three months ended September 30, 2002. Our international revenue increased 27% to $438.7 million for the nine months ended September 30, 2003 from $344.4 million for the nine months ended September 30, 2002. Over the long-term, we expect that our international revenue will increase relative to total revenue as a result of the lower penetration of our products existing in these markets and our increasing focus on developing international revenue opportunities. We believe that our success depends upon continued expansion of our international operations. We currently have sales and service offices and resellers located in North America, Europe, Asia-Pacific, South America, Africa and the Middle East, and research and development centers in India and Israel. To the extent that we are unable to meet these additional requirements, growth in international sales will be limited, which would have an adverse effect on our business, operating results and financial condition.
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