Press Releases
Cranes Software's Q2FY2007 consolidated revenues up 34%, PAT higher by 54%
H1FY2007 revenues and PAT increase by 34% and 51% respectively
Strengthens presence in embedded software, automotive vertical
Note to the announcement:
This press release discusses the financial performance of Cranes Software International Limited on a consolidated basis. This includes the performance of its fully owned subsidiaries Systat Software Inc., USA; Systat Software Inc.'s subsidiary Cranes Software UK Limited; Cranes Software Inc, USA; Systat Software Gmbh, Germany; Cranes Software International Pte. Ltd, Singapore; EMRC Engineering Mechanics Research (India) Ltd.; Systat Software Asia Pacific Ltd and Analytix Systems Pvt. Ltd
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Bangalore, October 26, 2006: Cranes Software International Ltd. (Cranes), a global scientific and engineering software solutions provider, today announced its audited results for the half-year and second quarter ended September 30, 2006.
Commenting on the performance, Asif Khader, Managing Director, Cranes Software International Limited, said:
In Q2FY2007 Cranes delivered yet another quality performance in both revenue and profitability despite substantial increase in general & administrative costs as well as personnel expenses. These cost increases were due to aggressive thrust towards increasing our overseas marketing presence and expanding our R&D capabilities.
Our new product launches announced in the last quarter have received an encouraging response. Our latest launch, NISA Civil, received industry wide recognition at the ACCE-CDC Awards 2006.
Cranes Software Group performance review:
Corresponding quarter performance:
Q2FY 2007 (July - September 2006) v/s Q2 FY 2006 (July - September 2005)
- Operating revenues increased by 34% to Rs. 666.8 million compared to Rs. 498.6 million.
- Overseas sales improved by 63% to Rs. 576.7 million.
- Operating profit improved by 20% at Rs. 369.0 million compared to Rs. 306.8 million.
- Incurred higher G&A expenses following investments in marketing infrastructure in key regions overseas.
- Depreciation costs up 64% primarily due to provisions made on investments in product upgrades
- Interest Costs declined 64% as the Company reorganized its debt portfolio following the FCCB
- Net profit after tax grew by 54% to Rs. 210.5 million from Rs. 136.6 million.
Half-yearly review:
H1FY 2007 (April - September 2006) v/s H1FY 2006 (April - September 2005)
- Operating revenues increased by 34% to Rs. 1,303.3 million compared to Rs. 970.1 million.
- Operating profit improved by 19% at Rs. 703.7 million compared to Rs. 591.2 million.
- Net profit after tax grew by 51% to Rs. 400.7 million from Rs. 266.2 million.
Key corporate highlights for Q2 FY2007
- NISA Civil bags the ACCE-CDC Award 2006 for best software package in civil engineering:
During the quarter, Cranes won the prestigious Association of Consulting Civil Engineers (ACCE) Computer Design Consultants (CDC) award for its NISA/CIVIL software package. NISA Civil, software catering to the civil engineering segment, was launched by Cranes last quarter. It offers CAD based solutions to a wide variety of problems encountered in the Analysis and Design of Reinforced Concrete and Steel Structures.
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