Press Releases


California Software Ltd - Q2 & H1 Results FY 2005-06

Chennai, October 29, 2005 - California Software Company Limited (Calsoft) today announced that its Board of Directors had taken on record and approved the unaudited financial results for the second quarter and for the first half year of 2005-06.

Financial Highlights - Q2 & First Half Year ended 30 Sep 2005

Total consolidated revenue was Rs. 2311.81 lakhs for second quarter (increase of 6.14% over Q1) and Rs. 4489.86 lakhs for the 1st half-year ended 30 Sep 2005. The revenue for the first half-year of 2005-06 is more than 90% of 2004-05 consolidated revenue (Rs 4886.21 lakhs for year ended 31 March 2005)

Standalone revenue for the second quarter was Rs. 751.66 lakhs. This is an increase of 11.2 % YoY (Rs. 675.73 lakhs for the second quarter of 2004-05) and an increase of 13.7 % QoQ. (First quarter revenue for 2005-06 was Rs. 660.98 lakhs) Stand alone revenues for the first half year increased to Rs. 1412.64 lakhs (an increase of 16.7% over previous year which was at Rs. 1210.43 lakhs)

For 2005-06, the standalone net profit for Q2 was Rs. 67.19 lakhs (against Rs. 145.56 lakhs for Q2 of last year) and for the first half-year was Rs. 163.57 Lakhs (against Rs. 185.25 lakhs for the first half year of 2004-05). Consolidated net profits after taxes and minority interest adjustments was Rs. 54.23 lakhs for Q2 and Rs. 112.41 lakhs for the first half-year of current year. As anticipated the margins were lower on account of acquisition and integration costs of companies acquired till April 2005, higher employee costs (due to enhanced numbers) and increased selling and administrative costs.

Consolidated earnings per share for the second quarter and first half year of 2005-06 were at Rs. 1.10 and Rs. 2.28 respectively (not annualized).

Major Business Highlights for the Quarter

  • Signed LOI with Informed Decisions Corp, California (a leading higher education software product company) to acquire majority stake (this was formalized in Q3 effective 1st Oct 2005)
  • Upgraded office and offshore development facilities by occupying new facility of 30000 sq. ft. with state of the art infrastructure at Elnet software city, Chennai
  • Had six major client wins during the quarter, of which three are in healthcare software segment (Major clients defined as those with annual billing potential of over $1 mn USD)

Analysis Of Key Parameters

  • The revenues split- up (consolidated) was as follows for 1st Half-year:
    • Segment: Commodities Solutions - 10%, Technology Solutions - 34%, Enterprise Solutions - 56%
    • Geography: Americas - 83%, Europe including UK - 5%, Asia - Pacific Region including India - 12%
  • As on 30 Sep 2005, there are 613 employees on rolls of Calsoft and its subsidiaries

About Calsoft

California Software Company Ltd (Calsoft) is a public limited company in India with a global presence. Founded in 1992, Calsoft today employs over 600 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 detail 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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