Chennai, July 28th, 2007 - California Software Company Limited (Calsoft), today announced that its board of Directors had taken on record and approved the un-audited financial results for the 1st quarter of financial year 2007-08.
Total consolidated revenues for Q1FY08 were Rs.5395 lakhs, reflecting a 49% growth over the revenues in same quarter last fiscal (Rs 3624 lakhs)
For Q1 FY08, the consolidated Net Profits ot Rs.218.10lakhs show a growth of 214% over the corresponding quarter in the previous fiscal (Rs 69.53 lakhs) Consolidated Earnings per share (basic) for the quarter increased to Rs2.41-an improvement of 90% over corresponding quarter previous fiscal (Rs.1.27)
Commenting on the results, Mr. K. N.Nayak, CFO, Calsoft said, “The measures taken during the previous two quarters in terms of acquisitions, rationalising of subsidiaries and enhanced share of sales from Europe in this quarter have contributed to this improvement”
The company is not in the practice of issuing any guidance, but believes that the outlook for 2007-08 will be robust. The group plans to grow organically as well as through a prudent and focused acquisition strategy that brings synergies to its customer solution offerings.
California Software Company Ltd (Calsoft) is a public limited company in India with a global presence. Its development practices are certified at CMMi Level 5. Founded in 1992, Calsoft group including subsidiaries currently employs over 850 employees. The group has development centers in Chennai and Bangalore in India and Pleasanton, (California), Alameda (California) ,Boston (MA) in the USA. Calsoft group has marketing offices in the US, UK, Singapore, Japan, China, Taiwan, Dubai, Hong Kong, Copenhagen and in India. Calsoft is listed in India at NSE (cali.ns) and BSE (cali.bo). For more information on Calsoft visit www.calsoftgroup.com
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