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.
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).
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
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