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.
For further information, please contact :
Contact : B. Parasuram (Cranes Software International Limited)
Phone : +91 80 4112 0000
Fax: +91 80 4123 1274
E-mail :
parasuram@cranessoftware.com
Contact : Bhavna Bhatia (Citigate Dewe Rogerson)
Phone : +91 22 4007 5025
Fax : +91 22 2284 4561
E-mail :
bhavna@cdr-india.com
About Cranes Software International Ltd. (CSIL):
Cranes Software is a global scientific & engineering products and solutions provider. The Company's business interests straddle products, services, R&D in future technologies, training and high-end consultancy for engineers and scientist worldwide. Focused on the scientific and engineering community, Cranes Software has addressed the needs of a variety of customer groups ranging from large MNCs to the US armed force for over a decade.
Today, Cranes Software has its presence in 38 countries across the world and has a customer base of more than 350,000. Cranes Software also offers world-renowned solutions from reputed principals such as The MathWorks, Mentor Graphics, Texas Instruments, IBM and Lanner through product alliances.
With a mission statement to provide its customers the best in scientific technology and to enable its customers to define new limits, Cranes Software is setting new standards in the scientific and engineering field. For more information visit www.cranessoftware.com
Certain statements in this release concerning our growth prospects are forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties, including government actions; local political or economic developments; technological risks; risks inherent in the Company's growth strategy; dependence on certain clients; dependence on availability of technical consultants and other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. The Company undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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