Press Releases


Calsoft announces First Quarter Results FY2005-06

Consolidated revenues at Rs21.78 crores

Chennai, July 29, 2005 - California Software Co Ltd (Calsoft) today announced that its Board of Directors had taken on record and approved the unaudited financial results for the first quarter ended June 30th 2005 of current financial year 2005-06.

Financial highlights for the quarter ended 30th June, 2005

This is the first year that company is compiling and reporting consolidated results on quarterly basis also (in addition to annual results) and hence prior year comparisons are not available for consolidated results.

  • Total consolidated revenue was Rs. 2178. 05 lakhs for the 1st quarter of current year. Standalone Revenues for the quarter increased to Rs. 660.98 lakhs from Rs. 534.70 lakhs for the corresponding quarter in the previous year, an increase of 24%.
  • Standalone Profit after tax was Rs 96.38 lakhs with a YOY growth of 142% (PAT previous year Q1 was Rs 39.69 lakhs). Consolidated net profits after taxes and minority interest adjustments was Rs 58.18 lakhs (previous year – not comparable)
  • Standalone Earnings per share - EPS for the quarter increased to Rs 1.97 per share from previous year Q1- Rs 0.80 per share - an improvement of 146%. On consolidated basis EPS for the quarter was Rs 1.19 per share (previous year – not comparable)

Key Milestones-For the quarter

  • New alliances in the quarter - Partnership with Phoenix Technologies for distribution and development of entire line of Phoenix BIOS software and firmware products
  • Opening of 3rd US Office at Boston to focus on the East Coast of US
  • Webspectrum Software P Ltd Bangalore - acquisition as 100% subsidiary was formalized

Analysis of Key Parameters-Group

  • The revenues split up (including all subsidiaries) was as follows:
    • Segment wise:
      Enterprise Solutions - 56 %
      Technology Solutions - 30 %
      Commodities Solutions -14 %
    • Geography:
      Americas - 86 %
      Europe including UK -5 %
      Asia-Pacific Region including India - 9 %
    • Net addition of 31 employees for the quarter

Future Prospects and Outlook (2005-06)

The company is not in practice of issuing any guidance but believes the outlook is robust “At this pace we are on course to achieve a significant milestone of group revenues of over US$ 23million (about Rs100 crore) in current fiscal year” said Mr. K.N.Nayak, Chief Financial Officer of Calsoft. “We shall simultaneously focus on improving group profitability through focused measures”

About Calsoft

California Software Company Ltd (Calsoft) is a public limited company in India with a global presence. Founded in 1992, Calsoft group today employs about 600 employees. Its software development practices are certified at SEI-CMMi Level 5. The company has development centers in India and US and marketing offices in the US, UK, UAE, Japan, Singapore and India. Calsoft is listed in 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

   

go to toptop

Home nextMedia Room nextPress releases nextNews