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Calsoft announces First Quarter Results (FY2006-07)

Chennai, July 31, 2006 - California Software Company Limited (Calsoft) today announced that its Board of Directors had taken on record and approved the audited financial results for the 1st quarter of financial year 2006-07.

Highlights-Consolidated financial results for the 1st quarter ended June 30, 2006

Total Revenue was Rs. 3623.94 lakhs for the quarter; Year on Year (YOY) growth of 66% (Total Revenue previous year Q 1 was Rs. 2178.05 lakhs). Sales revenues for Q1 current year was Rs. 3609.51 lakhs (previous year Q1 – Rs. 2170.76 lakhs).

Profit after tax was Rs. 69.53 lakhs for the quarter with an YOY growth of 19.5% (PAT previous year Q1 was Rs. 58.18 lakhs).

Consolidated Earnings per share-increased to Rs. 1.27 for the quarter (not annualised) - an improvement of 7.6% over last year (EPS Previous year Q1 was Rs. 1.18). This quarter the EPS was over enhanced equity capital post the rights issue, which concluded in May 2006.

There was improvement in all key parameters with respect to previous quarter (Q4 2005-06) for consolidated financials

The standalone financials show improvement on all key parameters with respect to previous year Q1 (revenues up by 77%, Net profits up by 106% and EPS improved by 84%).

Business Highlights–for the quarter ended 30th June 2006

  • The sales revenues split up (consolidated) was as follows:
    • Segment- wise:
      • Enterprise Solutions - 64%
      • Technology Solutions - 27%
      • Commodity Solutions - 9%
    • Geography:
      • N. America - 87%
      • Europe - 5%
      • Asia-Pacific Region including India - 8%
  • During the quarter, there was a net addition of 88 employees into the group and there were 825 employees as on the quarter end.

Current Year Prospects and Outlook (2006-07)

Mr. K.N. Nayak, CFO, Calsoft said, “A stable revenue path was maintained over the last 3 quarters. We will focus on improving profitability across all segments and group companies in this year.”

The company is not in the practice of issuing any guidance, but believes that the outlook for 2006-07 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.

About Calsoft

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 800 employees. The group has development centers in Chennai and Bangalore at India and Pleasanton, (California), Boston and Omaha at USA. Calsoft group has marketing offices in the US, UK, Singapore, Japan, Dubai and India. Calsoft is listed in India at NSE (cali.ns) and BSE (cali.bo). For more information on Calsoft visit www.calsoftgroup.com

For further details,

N Anita
Manager - Corporate Communications
Ph: +91 44 4282 9000
anitan@calsoftgroup.com

   

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