Cranes Software - Q3 PRESS RELEASE

Press Releases

Cranes Software's 9M FY 2005 consolidated operating revenues higher by 76%

9M Net Profit increases by 61% to Rs. 280 million

Bangalore, January 31, 2005: Cranes Software International Ltd. (Cranes Software), a global scientific and engineering software solutions provider, today announced its audited results for the quarter ended December 31, 2004.

Cranes Software Group performance review:

Nine - month review:

9M FY 2005 (April - December 2004) v/s 9M FY 2004 (April - December 2003)

Operating revenues up by 76% to Rs. 1088.9 million compared to Rs. 619.9 million.
Operating profit higher by 48% at Rs. 490.7 million from Rs. 331.0 million.
Net profit after tax increased 61% to Rs. 280 million from Rs. 173.8 million.

Corresponding quarter performance:

Q3 FY 2005 (October - December 2004) v/s Q3 FY 2004 (October - December 2003)

Operating revenues expanded 26% to Rs. 364.8 million from Rs. 289.9 million.
Operating profit grew by 21% at Rs. 187.5 million compared to Rs. 155.2 million.
Net profit after tax higher by 19% to Rs. 100.6 million from Rs. 84.3 million.

Commenting on the performance, Asif Khader, Managing Director, Cranes Software International Limited, said:

"We continue to align our resources to gain greater mindshare of the global scientific and engineering community. This is being achieved by enhancing the portfolio of offerings to these audiences - by developing our existing products and acquisitions in high potential spaces. Our focused approach has enabled us maintain a strong trajectory of growth and we remain confident of continuing to do so in the foreseeable future.

Recently, Cranes Software has once again been recognized as a leading global technology innovator. We are enthused by the critical acclaim received from two extremely important segments: technology users and the financial community.

We have also been ranked amongst the fastest growing technology companies in the region by Deloitte Touche Tohmatsu's Asia Pacific Technology Fast 500 Survey for the second year running. In addition, Cranes was ranked as the fastest growing publicly-listed Indian technology company.

On the technical side, SYSTAT 11, the recently launched latest version of our integrated desktop statistics and graphics software package, has been picked by the Scientific Computing & Instrumentation (SCI) journal for the top products award in the statistical data analysis segment for the year 2004.

These accolades lead us to believe that we are moving in the right direction, and motivate us to further intensify our ongoing initiatives."

Key corporate highlights during Q3 FY2005:

SYSTAT 11 picked top statistical data analysis product of 2004
SYSTAT 11, the latest version of Cranes Software's integrated desktop statistics and graphics software package, has been picked by the Scientific Computing & Instrumentation (SCI) journal for the top products award in the statistical data analysis segment for the year 2004. With the recent launch of SYSTAT 11, the product has transitioned from FORTRAN to C environment. SYATAT 11 is the first statistical analysis software product to be developed in India. It has incorporated several new features such as the Markov chain Monte Carlo (MCMC) technique and Quality Analysis that allow the product to be marketed to specific user groups.
Cranes Software ranked the fastest growing publicly-listed technology company in India by Deloitte Touche Tohmatsu's Asia Pacific Technology Fast 500 survey
Cranes Software was ranked amongst the fastest growing technology companies in the region by the 2004 edition of Deloitte Touche Tohmatsu's Asia Pacific Technology Fast 500 annual survey. The program is a ranking of the leading technology companies across the Asia Pacific region based on percentage revenue growth achieved between FY 2002 and FY 2004.
Cranes Software grew by 393 per cent during the analyzed period. This was the second successive year in which Cranes Software was included in this prestigious list of technology leaders and it was also the fastest growing publicly-listed Indian technology company in the 2004 survey.
Cranes Software to enter into a JV with Kanoo Group, LLC
Cranes Software has approved a proposal for entering a joint venture agreement with the Dubai-based Kanoo Group, LLC to provide computer software and related services in the Middle East.
New releases for Indian technical software users
Cranes Software and The MathWorks announced the availability of the Bioinformatics Toolbox 2.0 for MATLAB® in India. The Bioinformatics Toolbox delivers greater power and versatility to the biotechnology and pharmaceutical industries, providing more advanced technology capabilities for drug discovery research, genetic engineering, and other genomics and proteomics projects.
MATLAB® and Simulink® product families are now also available on AMD64 and Intel EM64T processors in India. With this new support, users can leverage the benefits of 64-bit computing with applications involving large data sets and computationally intensive tasks.
Cranes Software announces Commercial partnership with Lyrtech Inc
Cranes Software announced the signing of major reseller agreement with Lyrtech Inc, a globally recognized player in digital signal processing (DSP) technologies. As per the partnership, Cranes Software would be an authorized distributor of products and solutions from Lyrtech.