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California Software Ltd Announces Q3 Results

Chennai, January 30, 2006 - 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 third quarter and for the 9 months ended 31 Dec 2005.

Financial Highlights– Q3 & Nine months ended 31 Dec 2005

  • Consolidated revenue for Q3 was Rs. 3507.96 lakhs - an increase of 216% YoY (Last year Q3 revenues were Rs.1109.97 lakhs), and an increase of 51.74% QoQ (the Q2 revenue of 2005-06 was Rs 2311.81 lakhs).
  • Consolidated revenue for the 9 months ended 31 Dec 2005 was Rs. 7997.82 lakhs. The revenue for the nine months of 2005-06 improved by 157% YoY (9 months revenue for the previous year stood at Rs.3116.60 lakhs) and surpassed the revenue earned during last year by 51% (revenue for 2004-05 was Rs.4886.21 lakhs).
  • Consolidated net profits for Q3 after taxes and minority interest adjustments was Rs.310.12 lakhs - an improvement of 1243% YoY (Q3 of 2004-05 recorded a loss of Rs 27.13 lakhs) and an improvement of 472% QoQ (during the current year Q2 net profits stood at Rs 54.23 lakhs).
  • Consolidated Net profits for the 9 months ended 31 Dec 2005, after taxes & minority interest adjustments was Rs. 422.54 lakhs - an improvement of 177 % YoY (the net profit for the first 9 months in 2004-05 was Rs.152.48 lakhs).
  • Consolidated earnings per share for nine months ended 31 Dec 2005 was Rs 8.59 and for Q3 was Rs 6.30 (not annualized). For the previous year the consolidated earnings per share for 9 months was Rs 3.20 and for Q3 was Rs.- 0.57(not annualized).

Major Business Highlights for the Quarter

  • Completed acquiring majority stake in Informed Decisions Corp, California (a leading higher education software product company) effective 1st Oct 2005.
  • Signed a distribution agreement with Macromedia under which Calsoft Licenses, distributes, and integrates Macromedia Flash Player SDK and Macromedia Flash Lite into embedded and handheld devices in India, South Asia, and U.S. markets.
  • Won orders of significant importance from IPC (USA) Inc and APM Terminals.

Key Parameters Analysis

The segment wise revenue split - up (consolidated) for 9 months ended 31 Dec 2005 is as follows

  • Segment
    Enterprise Solutions - 58%
    Technology Solutions - 30%
    Commodity Solutions - 12%
  • Geography
    Americas - 84%
    Europe including UK - 6%
    Asia - Pacific Region including India - 10%

As on 31 Dec 2005, there are 678 employees on rolls of Calsoft and its subsidiaries.

Prospects and Outlook (2005-06)

The company is normally not in the practice of issuing any guidance. However, it believes that the outlook is reasonably good for the whole year.

Mr. K. N. Nayak, Chief Financial Officer, Calsoft said “Q3 was a good quarter for us and witnessed significant acceleration in billing, margins and profits over previous quarters and last year due to the result of our past efforts in acquisitions & organic growth. We have exceeded previous full year group revenues and profits in these 9 months and we target to continue this momentum”.

About Calsoft

California Software Company Ltd (Calsoft) is a public limited company in India with a global presence and subsidiaries in India and USA. Founded in 1992, Calsoft as a group today employs over 675 employees. Its development practices are certified at CMMi Level 5. With development centers in Chennai and Bangalore, India and Pleasanton, (California), Boston and Omaha at USA, the group has marketing offices in the US, UK, Japan, Singapore, Dubai and India. Calsoft is listed in India at NSE (cali.ns) and BSE (cali.bo). For more details 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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