Cranes Software's H1 FY 2004 consolidated revenues increase 119%

H1 Net Profit increases by 100% to Rs. 179.3 million

Bangalore, November 25, 2004: Cranes Software International Ltd. (Cranes Software), a global scientific and engineering software solutions provider, today announced its audited results for the quarter ended September 30, 2004.
Commenting on the performance for Q2 FY 2005, Mr. Asif Khader, Managing Director, Cranes Software International Limited, said:

"I am pleased to report another strong set of numbers in the second quarter of the current fiscal year. Our business initiatives are firmly in place and we remain on course to achieving our growth objectives, both for the year as well as over the longer term horizon.

Over the years, Cranes Software has made several focused initiatives to create leading software products for the global scientist. These are now resulting in a spate of achievements that take us ever closer to our global vision. In the reported quarter, Cranes launched Version 9.0 of its data presentation and analysis product SigmaPlot. At the same time, SYSTAT 11.0, the new version of our statistical software launched last quarter received critical acclaim, receiving SCI's* Editors' Choice Award. Further, endorsement of our success came in the form of a #8 ranking on Dataquest's Top 20 and a significant jump in our position on the Business Today corporate list.

Overall, our scientific and engineering software products continue to create strong acceptability within the global community of scientist by streamlining their research work across the world."


Cranes Software Group performance review:

Corresponding quarter performance:

Q2 FY 2005 (July - September 2004) v/s Q2 FY 2004 (July - September 2003)

• Operating revenues increased 87% to Rs. 363.9 million compared to Rs. 194.4 million.
• Operating profit higher by 68% at Rs. 182.7 million from Rs. 108.3 million.
• Operating margin declined by 550 basis points at 50.2%.
• Net profit after tax increased by 55% to Rs. 82.3 million from Rs. 53.2 million.

• Operating revenues higher by 119% to Rs. 724.1 million compared to Rs. 329.9 million.
• Operating profit increased 100% at Rs. 352.5 million from Rs. 176.2 million.
• Operating profit margin fell by 470 basis points at 49%.
• Net profit after tax up by 100% to Rs. 179.3 million from Rs. 89.5 million.

• Operating revenues expanded by 56% to Rs. 271.4 million compared to Rs. 174.1 million.
• Operating profit was up 61% at Rs. 160.2 million from Rs. 99.7 million.
• Net profit after tax higher by 46% to Rs. 82.5 million from Rs. 56.4 million.

• SigmaPlot's Version 9.0 launched
  In August 2004, Cranes Software launched SigmaPlot 9.0® that is specifically designed to meet the needs of professional researchers. The new version features improved graphing enhancements, additional data analysis capabilities, streamlined user interface and additional security features. SigmaPlot 9.0 also fully integrates with SigmaStat 3.1®, Cranes Software's statistical analysis software product designed specifically for scientists who are not statisticians. This integration allows researchers to access several frequently used statistical procedures to analyze scientific research while using the SigmaPlot product.
  
  
• SYSTAT Version 11.0 receives Editors' Choice Award from Scientific Computing & Instrumentation journal
  SYSTAT 11.0, the latest version of Cranes Software's statistical software package, launched during the last quarter received critical acclaim, receiving Scientific Computing & Instrumentation's* Editors' Choice Award. SCI is the Scientific Community's Leading Source for New Technology.
  
  SYSTAT's Version 11.0 provides advanced statistical and graphical capabilities to statisticians and professional researchers worldwide. It has been developed by Cranes Software's team of 60 researchers that is headed by eminent statistician Dr. T. Krishnan. The product has also received very encouraging response from the targeted global community of scientists and engineers.
  
  
• New versions of products MATLAB and Simulink launched in India
  Cranes Software, along with The MathWorks Inc., announced the availability of the latest versions of mathematical computing and modeling software products MATLAB and Simulink in India. MATLAB 7 features a redesigned desktop that includes several new programming and debugging tools, automated program analysis, and publishing of code and output directly to HTML and Word. The Company also announced the availability of Distributed Computing Toolbox (DCT) for MATLAB and Simulink that dramatically decreases the overall execution time of applications. The new version is available for Indian users through Cranes Software's nationwide product distribution network.
  
  
• Cranes Software achieves SEI CMM Level-5
  Cranes Software was assessed as SEI CMM Level 5 company in August 2004. The scope of the assessment covered software product development and services for the Company's scientific, engineering and enterprise applications.
  
  
• CSIL announces listing on the NSE
  Cranes Software announced that its equity shares have been listed on the National Stock Exchange (NSE) with effect from October 27, 2004. The Company's shares are traded under the symbol CRANESSOFT on NSE. Its shares are currently listed at the Stock Exchange, Mumbai (BSE) and its GDRs are listed on the Luxembourg Stock Exchange.