Elsevier disputed the claims, arguing that their prices are below the industry average, and stating that bundling is only one of several different options available to buy access to Elsevier journals.[1] The company also claimed that its considerable profit margins are "simply a consequence of the firm's efficient operation".[2] Critics of Elsevier claim that in 2010, 36% of Elsevier's reported revenues of US$3.2 billion was profit.[10] Elsevier claimed to have an operating margin of 25.7% in 2010.[11]