Cranes Software's Q2 FY08 consolidated revenues up 38% PAT higher by 30%

Bangalore, October 25th, 2007:: Cranes Software International Ltd. (CSIL), a global data analytics and engineering simulations software products and solutions provider, today announced its un-audited results for the second quarter ended 30th September, 2007.

On the occasion of the first quarter results announcement, Asif Khader, Managing Director, Cranes Software International Limited, said:

Cranes Software continues to witness a demand pattern that is growing exponentially as is reflected by our increased clientele and the strong financial performance declared by the Company for the current quarter under review. This quarter can be most appropriately summed as one of consolidation from the previous quarter where the Company had announced several product launches and four independent acquisitions in the data analytics space. Accordingly, revenues expanded 38% while PAT was up 30% Q-o-Q, with operating margins of 55%. Although so much is being written about the sub prime woes and speculative economic slowdown in the United States, the business of data analytics and engineering simulation is increasingly becoming the oxygen for other industries to rely on, not only to differentiate themselves but also capture maximum market share by judiciously utilizing the abundant information available to support business decisions. In this regard, Cranes is cementing its presence across the globe with high focus on the European and American markets. Going forward, we expect to continue growing at a robust pace thereby evolving into a global top tier analytics driven Products and Solutions Company.

• Total income increased by 38% from Rs. 666.8 million to Rs. 917.3 million in the current quarter.
  • Overseas revenues were up 29% at Rs. 746.3 million and constitute 81% of total revenues.
  • Domestic revenues rose 34% from Rs. 119.3 million to Rs. 159.7 million in the current quarter.
• Operating profit improved by 37% to Rs. 507.1 million compared to Rs. 368.9 million in the previous corresponding quarter. Operating margins remained stable at 55%.
• Net profit after tax grew by 30% to Rs. 272.7 million translating into diluted EPS of Rs. 2.14 as against Rs. 1.74 reported during the same period last year.

• Total Revenues increased 9% from Rs. 840.7 million.
  • Overseas revenues expanded by 11% q-o-q from Rs. 673.6 million to Rs. 746.3 million
  • Domestic revenues remained almost flat at about Rs. 160 million.
• Operating profit increased by 14% from Rs. 444.7 million. Operating margins were higher from 53% in Q1 FY08 to 55% in the current quarter.
• Net profit after tax (prior to adjustments) was up 11% from Rs. 246 million. Accordingly, diluted EPS increased from Rs. 1.84 in Q1 FY08 to Rs. 2.14 in the quarter under review.