Press release from Business Wire India
Source: IndiaMART
Saturday, January 31, 2009 05:43 PM IST (12:13 PM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Advertising, PR & marketing, Banking & financial services, Business services, Information technology, Retailers; Technology
Release no: 19112
--------------------------------------------------
IndiaMART.com, Naukri.com Chiefs Speak on Winning through Economic Crisis
TiE Hosts Panel Discussion for Stalwarts of Indian Online Industry
New Delhi, Delhi, India, Saturday, January 31, 2009 -- (Business Wire India) -- IndiaMART.com founder and CEO, Dinesh Agarwal, Smile Interactive's Chief Mentor, Mahendra Swarup, Contest2Win founder, Alok Kejriwal and Info Edge Ltd MD & CEO, Mr Sanjeev Bikhchandani - all stalwarts in their field, recently came together on to a common platform - an event organized by The Indus Entrepreneurs (TiE) hosted at the India Habitat Center on 30th January in New Delhi.
The event was attended by a majority of aspiring entrepreneurs, start-up enthusiasts and venture capitalists. Speaking on 'Surviving and Winning in a Downturn', a panel discussion, an optimistic Dinesh Agarwal said, "The online business is about serving your customers well, at the right price, and despite all break down. And when the markets are facing mayhem, you must choose to pounce on latent opportunities by realigning your approach and rethinking your strategies."
Using his vast experience over the past decade, Sanjeev Bikhchandani - known for his famous portal Naukri.com said, "One should assume that there will be no funding and then decide to go ahead with their start-up. Rather than focusing on dream projects, it's imperative to emphasize on returns in the next quarter or within the current year. If your project does not guarantee returns so early, then one needs to realign the marketing and distribution strategies."
Hosted by The Indus Entrepreneurs (TiE), the event brought together leaders who have seen the resurgence of the Internet after the dotcom burst and emerged winners; and promising entrepreneurs who believe in the commercial potential of the Internet. Answering a question as to whether a business should opt for online, offline or hybrid model, Mr Agarwal said that it depends entirely upon the type of business model in practice and the strategies in effect at that particular time, considering prevailing market scenario.
Fielding a question as to the right time to start a new venture, an optimistic Mahendra Swarup said that if he could afford to start a company, he would do it now, in the downturn, as it is the best time to go ahead with any new kind of start up.
Dinesh Agarwal added, "Sun Tzu writes in his book The Art of War, 'when in peace, be at war'. It's true; recession is really the time when you can gather all the ammunition you will need once things improve". The technocrat started IndiaMART.com in 1996, survived the dotcom burst in 2001, and is today running India's largest online B2B marketplace.
Also brought to the table were case studies of companies that stayed afloat during the burst, and what was learnt from their experiences.
About IndiaMART.com
IndiaMART.com is India's largest online B2B marketplace. It connects Indian suppliers with international and domestic buyers through business directories, online product catalogs, buy-sell offers, printed media and trade shows participation.
Founded in 1996, the company has a presence in over 100 cities pan-India. With approximately 1000 employees, IndiaMART.com offers an extensive range of value-added products and services to over 500,000 members and over 5 million global buyers across industries and verticals.
IndiaMART.com has won numerous awards over the years including Red Herring 100 Asia & Emerging India and the company has been widely covered by media such as CNBC, BBC, BusinessMoney, CNN, Businessworld, Economic Times, Financial Express, etc.
About TiE
The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently over 12,000 members and more than 1,800 charter members in 52 chapters across 11 countries. TiE's mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE's focus is on generating and nurturing our next generation of entrepreneurs.
Besides its flagship event, TiECon--the largest professional conference for entrepreneurs, TiE now has a wide range of programs including Special Interest Groups (SIGs), TiE Institute, Deal Flow Meetings, TiE Young Entrepreneurs, and, most recently, TiE Women's Forum and CEO Forum.
For more information, please visit: www.indiamart.com/press-section/
CONTACT DETAILS
Arun Tyagi-Marketing & PR, IndiaMART, +919711003832, +91 (120) 3911000, aruntyagi@indiamart.com
Geetika Dayal -Executive Director, TiE, +919810539848,+91 (120) 4243322, geetika@tienewdelhi.org
KEYWORDS
CONSUMER, CONSULTANCY SERVICES, MARKETING, BANKING, BUSINESS SERVICES, IT, RETAIL, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Saturday, January 31, 2009
BWI: Grasim, The Aditya Birla Group's Flagship Company Performance for Q3FY2009
Press release from Business Wire India
Source: Grasim Industries Limited
Saturday, January 31, 2009 03:18 PM IST (09:48 AM GMT)
Editors: General: Consumer interest, Economy, Fashion; Business: Accounting & management consultancy services, Banking & financial services, Clothing & accessories, Financial Analyst, Major diversified industrial groups, Stock exchanges
Release no: 19111
--------------------------------------------------
Grasim, The Aditya Birla Group's Flagship Company Performance for Q3FY2009
Consolidated Net Revenue - Rs.4,632 Crs, Consolidated Net Profit - Rs.460 Crs.
Mumbai, Maharashtra, India, Saturday, January 31, 2009 -- (Business Wire India) -- Grasim, an Aditya Birla Group Company, today announced its results for the 3rd quarter ended 31st December, 2008. Its Consolidated Revenues were higher by 6% at Rs.4,632 crores (Rs.4,350 crores). Net Profit was lower at Rs.460 crores (Rs.721 crores) due to the weak performance by its Viscose Staple Fibre (VSF) business and higher input and energy costs. The performance is to be viewed in the backdrop of the unprecedented global economic downturn which has adversely impacted Company's key businesses.
During the 9-months ended 31st December, 2008, Grasim's Consolidated Revenues rose by 10% at Rs.13,578 crores (Rs.12,376 crores). Net Profit for the period was Rs.1,618 crores (Rs.2,011 crores). The Company earned a Cash Profit of Rs.2,824 crores, vis-à-vis Rs.2,948 crores in the corresponding period. Given the current economic environment and its impact on Company's key businesses, the overall performance is considered satisfactory.
On a stand-alone basis, Grasim's Revenues for the quarter stood at Rs.2,690 crores (Rs.2,615 crores). Interest cost rose by 90% as a result of commissioning of new projects and increased borrowings. Depreciation too was higher by 38% due to commissioning of new projects. These, coupled with the constrained VSF business performance and general slowdown in economy, impacted the Net Profit which stood at Rs.330 crores (Rs.554 crores). For the nine-months period, the Company earned a Net Profit of Rs.1,263 crores (Rs.1,565 crores) and Cash Profit of Rs.1,744 crores (Rs.1,899 crores).
Viscose Staple Fibre (VSF) Business
The performance of VSF business was adversely affected due to depressed consumer demand for textile globally. Sales volumes were lower by 22%. The Company scaled down its production considerably in view of the impaired sales. Operating profits and margins dipped, also due to lower realization, higher pulp and sulphur cost and the weakening of rupee.
The demand for VSF is expected to remain muted until such time the textile consumption both in the domestic and western markets shows some signs of recovery. Margins are expected to remain under pressure, despite lower input costs, on account of further reduction in realization. The Company has reduced the prices of VSF further with effect from January, 2009 to prevent its substitution by competing fibres and imports.
The performance of VSF business is in line with global scenario.
Chemical Plant
In Caustic soda, production grew by 3%, while volumes rose by 9%. Higher caustic prices were negated by the abnormally low chlorine and HCL prices, which were down by almost 90% and 70% respectively over the corresponding quarter. Margins were depressed due to a steep increase in salt and power costs. The lower demand from fibre segment is likely to affect the caustic volumes.
Cement Business
Production of Cement was higher by 9% at 4 million tons. Volumes at 4.05 million tons registered an increase of 7%, aided by new capacity and sectoral growth. RMC volumes too were up by 18%. Though realizations improved, the impact was more than offset by the soaring input costs, thereby affecting margins adversely.
Cement Subsidiary: UltraTech Cement Limited (UltraTech), a subsidiary of Grasim, reported a lower Net Profit at Rs.237 crores (Rs.281 crores). Variable costs escalated due to a sharp increase in prices of coal and raw materials. The combined sales of cement and clinker reflected a growth of 7%.
Cement Capex plan
Grasim and UltraTech commissioned their clinkerisation units at Shambhupura (Rajasthan) and Tadpatri (A.P.) respectively, during the year. The split grinding units of Grasim at Dadri (U.P.) and that of UltraTech at Ginigera (Karnataka) of 1.3 million tons each also became operational during the year. Additionally, thermal power plants of 73 MW and 96 MW were commissioned by Grasim and UltraTech respectively.
The grinding unit of Grasim at Shambhupura and that of UltraTech at Tadpatri (A.P.) are expected to be operational in Q4FY09. At Kotputli (Rajasthan), the clinkerisation unit is expected to be commissioned in Q4FY09, while the grinding unit is expected to go on stream by Q1FY10.
The real estate sector continues to be plagued by inadequate demand and poor availability of funds. The slowdown in construction activities and corporate capital investments would lead to slackening of demand for cement. The sector is now expected to grow in line with GDP. The price of cement and consequently, operating margins, may witness pressure in FY 10 and FY 11 owing to the commissioning of large capacities in a phased manner over the next two years.
Commissioning and stabilization of new capacities in Grasim and UltraTech should spur growth in volumes. Going forward, the Company will continue to focus on sustaining plant performance and optimising efficiencies.
Outlook
The Company will continue to fortify its leadership position in the Cement and VSF sectors. With substantial increase in capacities, improved cost optimization, higher productivity and strong fundamentals, the prospects for the Company appear positive.
Please click the link mentioned below to view the entire press release and Q3EY09 Financial Results:
Press Release
Q3E\FY09 Financial Results
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Grasim_Q3FY 09_Press_Release.doc
Grasim_Q3FY 09_Press_Release.doc
http://www.BusinessWireIndia.com/attachments/Grasim_Q3FY09_Results.xls
Grasim_Q3FY09_Results.xls
CONTACT DETAILS
Dr. (Mrs.) Pragnya Ram, Group Executive President - Corporate Communications, Aditya Birla Management Corpn. Private Ltd,, +91 (022) 66525000, pragnya.ram@adityabirla.com
KEYWORDS
CONSUMER, ECONOMY, FASHION, CONSULTANCY SERVICES, BANKING, CLOTHING, Financial Analyst, GROUPS, STOCK EXCHANGES, 500300.BO, GRASq.L, GRAS.F
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Grasim Industries Limited
Saturday, January 31, 2009 03:18 PM IST (09:48 AM GMT)
Editors: General: Consumer interest, Economy, Fashion; Business: Accounting & management consultancy services, Banking & financial services, Clothing & accessories, Financial Analyst, Major diversified industrial groups, Stock exchanges
Release no: 19111
--------------------------------------------------
Grasim, The Aditya Birla Group's Flagship Company Performance for Q3FY2009
Consolidated Net Revenue - Rs.4,632 Crs, Consolidated Net Profit - Rs.460 Crs.
Mumbai, Maharashtra, India, Saturday, January 31, 2009 -- (Business Wire India) -- Grasim, an Aditya Birla Group Company, today announced its results for the 3rd quarter ended 31st December, 2008. Its Consolidated Revenues were higher by 6% at Rs.4,632 crores (Rs.4,350 crores). Net Profit was lower at Rs.460 crores (Rs.721 crores) due to the weak performance by its Viscose Staple Fibre (VSF) business and higher input and energy costs. The performance is to be viewed in the backdrop of the unprecedented global economic downturn which has adversely impacted Company's key businesses.
During the 9-months ended 31st December, 2008, Grasim's Consolidated Revenues rose by 10% at Rs.13,578 crores (Rs.12,376 crores). Net Profit for the period was Rs.1,618 crores (Rs.2,011 crores). The Company earned a Cash Profit of Rs.2,824 crores, vis-à-vis Rs.2,948 crores in the corresponding period. Given the current economic environment and its impact on Company's key businesses, the overall performance is considered satisfactory.
On a stand-alone basis, Grasim's Revenues for the quarter stood at Rs.2,690 crores (Rs.2,615 crores). Interest cost rose by 90% as a result of commissioning of new projects and increased borrowings. Depreciation too was higher by 38% due to commissioning of new projects. These, coupled with the constrained VSF business performance and general slowdown in economy, impacted the Net Profit which stood at Rs.330 crores (Rs.554 crores). For the nine-months period, the Company earned a Net Profit of Rs.1,263 crores (Rs.1,565 crores) and Cash Profit of Rs.1,744 crores (Rs.1,899 crores).
Viscose Staple Fibre (VSF) Business
The performance of VSF business was adversely affected due to depressed consumer demand for textile globally. Sales volumes were lower by 22%. The Company scaled down its production considerably in view of the impaired sales. Operating profits and margins dipped, also due to lower realization, higher pulp and sulphur cost and the weakening of rupee.
The demand for VSF is expected to remain muted until such time the textile consumption both in the domestic and western markets shows some signs of recovery. Margins are expected to remain under pressure, despite lower input costs, on account of further reduction in realization. The Company has reduced the prices of VSF further with effect from January, 2009 to prevent its substitution by competing fibres and imports.
The performance of VSF business is in line with global scenario.
Chemical Plant
In Caustic soda, production grew by 3%, while volumes rose by 9%. Higher caustic prices were negated by the abnormally low chlorine and HCL prices, which were down by almost 90% and 70% respectively over the corresponding quarter. Margins were depressed due to a steep increase in salt and power costs. The lower demand from fibre segment is likely to affect the caustic volumes.
Cement Business
Production of Cement was higher by 9% at 4 million tons. Volumes at 4.05 million tons registered an increase of 7%, aided by new capacity and sectoral growth. RMC volumes too were up by 18%. Though realizations improved, the impact was more than offset by the soaring input costs, thereby affecting margins adversely.
Cement Subsidiary: UltraTech Cement Limited (UltraTech), a subsidiary of Grasim, reported a lower Net Profit at Rs.237 crores (Rs.281 crores). Variable costs escalated due to a sharp increase in prices of coal and raw materials. The combined sales of cement and clinker reflected a growth of 7%.
Cement Capex plan
Grasim and UltraTech commissioned their clinkerisation units at Shambhupura (Rajasthan) and Tadpatri (A.P.) respectively, during the year. The split grinding units of Grasim at Dadri (U.P.) and that of UltraTech at Ginigera (Karnataka) of 1.3 million tons each also became operational during the year. Additionally, thermal power plants of 73 MW and 96 MW were commissioned by Grasim and UltraTech respectively.
The grinding unit of Grasim at Shambhupura and that of UltraTech at Tadpatri (A.P.) are expected to be operational in Q4FY09. At Kotputli (Rajasthan), the clinkerisation unit is expected to be commissioned in Q4FY09, while the grinding unit is expected to go on stream by Q1FY10.
The real estate sector continues to be plagued by inadequate demand and poor availability of funds. The slowdown in construction activities and corporate capital investments would lead to slackening of demand for cement. The sector is now expected to grow in line with GDP. The price of cement and consequently, operating margins, may witness pressure in FY 10 and FY 11 owing to the commissioning of large capacities in a phased manner over the next two years.
Commissioning and stabilization of new capacities in Grasim and UltraTech should spur growth in volumes. Going forward, the Company will continue to focus on sustaining plant performance and optimising efficiencies.
Outlook
The Company will continue to fortify its leadership position in the Cement and VSF sectors. With substantial increase in capacities, improved cost optimization, higher productivity and strong fundamentals, the prospects for the Company appear positive.
Please click the link mentioned below to view the entire press release and Q3EY09 Financial Results:
Press Release
Q3E\FY09 Financial Results
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Grasim_Q3FY 09_Press_Release.doc
Grasim_Q3FY 09_Press_Release.doc
http://www.BusinessWireIndia.com/attachments/Grasim_Q3FY09_Results.xls
Grasim_Q3FY09_Results.xls
CONTACT DETAILS
Dr. (Mrs.) Pragnya Ram, Group Executive President - Corporate Communications, Aditya Birla Management Corpn. Private Ltd,, +91 (022) 66525000, pragnya.ram@adityabirla.com
KEYWORDS
CONSUMER, ECONOMY, FASHION, CONSULTANCY SERVICES, BANKING, CLOTHING, Financial Analyst, GROUPS, STOCK EXCHANGES, 500300.BO, GRASq.L, GRAS.F
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: 4th National Quality Conclave to Focus on “Quality for Empowering the Billion”
Press release from Business Wire India
Source: Quality Council of India (QCI)
Saturday, January 31, 2009 02:25 PM IST (08:55 AM GMT)
Editors: General: Economy, People, Social issues; Business: Advertising, PR & marketing, Business services, Education & training, Media & entertainment; Healthcare
Release no: 19110
--------------------------------------------------
4th National Quality Conclave to Focus on "Quality for Empowering the Billion"
Special Emphasis on the Role of Quality in Transforming India into a Developed Country; Panelists & Speakers to Deliberate on Issues, Challenges & Quality Roadmaps across Key Industries
New Delhi, Delhi, India, Saturday, January 31, 2009 -- (Business Wire India) -- Quality Council of India (QCI), India's apex quality accreditation & facilitation body, functioning under the Department of Industrial Policy and Promotion is organizing its 4th National Quality Conclave on the 5th and 6th of February 2009. The 2 day event would be held at Hotel Le Meridian, New Delhi.
With a powerful theme "Quality for Empowering the Billion", reflecting former President of India, Prof APJ Abdul Kalam's vision on the role of QCI, the conclave will focus on exploring the roles and responsibilities that quality is taking in order to respond to national initiatives on key issues for transforming India into a developed country. The theme is aligned with the focus areas of the Council, namely, Education, Healthcare, Public Services and Manufacturing. Within the framework of the theme, the Conclave will offer the participants an opportunity to update knowledge on innovative ideas and best practices relating to quality in industry, governance, education, healthcare, environment, conformity assessment and others.
The 2 day event comprising of 9 sessions will witness many eminent personalities and luminaries of national and international repute speaking and deliberating on the issues. More than 1000 delegates including policy and decision makers, academic leaders, healthcare experts, quality and environment experts, professionals, corporate, students, teachers and NGOs, will attend the sessions during the event.
The defining address will be delivered by Prof. Noriaki Kano, the world renowned educationist and scientist, who is the creator of the famed "Attractive Quality Creation" methodologies and techniques, also popularly known as the "Kano Model". Prof Noriaki Kano, is a recipient of numerous international awards in the field of quality management. Over the years, he has made outstanding contributions to industrial development through quality across different countries.
The plenary Session on "Quality for Empowering the Billion" will be addressed by Dr. Mrityunjay Athreya, renowned Management Expert and Mr. Vishal Bali, CEO Wockhardt Hospital and Prof E.Balagurusamy, Member UPSC.
Announcing the theme for the event, Girdhar J Gyani, Secretary General, Quality Council of India, said, "This year's theme "Quality for Empowering the Billion" is yet another firm step towards taking the nation on the road to excellence. This heralds the beginning of India's journey towards achieving excellence, by brining the spheres of education, healthcare and food within the ambit of quality aside of manufacturing and service sectors. This time around empowerment is being emphasized because autonomy, mobilization of adequate resources, providing state-of-the-art infrastructure, excellent team work, meticulous planning & evaluation, and above all, a firm commitment to excel are some of the vital ingredients of achieving this."
The event is being sponsored by the National Accreditation Board for Testing & Calibration Laboratories and D. L. Shah Trust. QCI will also announce the D. L. Shah Award on "Economics of Quality - Best Projects on Cost Savings" during the event for which leading organizations have participated from across the country.
The event will offer a platform for the delegates to update their knowledge base and exchange ideas and thought related to implementation of quality standards in education, healthcare and public service.
The session on Healthcare will be addressed by Dr. Narottam Puri, President, Fortis Healthcare; Dr. Gautam Sen, Presidential, Healthcare International.; Dr. Arti Verma, Chief Medical Excellence Programme, Max Healthcare; Dr. Harish Nadkarni, Six Sigma Expert on healthcare; Dr. Geeta Mehta, President, Infection Control Society of India; Dr. K. Marikar, CEO, Malaysian Society for Quality Healthcare. Speakers will deliberate on strategic planning for improving clinical outcome, capturing voice of patients, good practices on infection control, applying six sigma in healthcare, developing clinical indicators and managing global quality in healthcare.
The session on Education will be addressed By Prof. Bhoomittra Dev, Vice Chancellor, Mangalayatan University, Aligarh; Dr. Dinesh, Advisor, Quality Assurance, AICTE; Shri R. Raghuttama Rao, Managing Director, ICRA Management Consulting Services.; Swami Ishatmananda, Secretary, Ram Krishna Mission, Arunachal Pradesh; Mrs. Rupa Chakravarty, Principal, Suncity School, Gurgaon and Shri Parimal Rai, Chairman, New Delhi Municipal Corporation. Panelists will discuss issues like emerging quality paradigms in education, impact of Washington Accord on Indian Education, technology and innovation management in education, value nurturing and integration in Schools and holistic development of students as well as school accreditation initiatives of NDMC.
The session on Quality in Public Services will be addressed by Mr. Padam Vir Singh, Joint Director, Lal Bahadur Shastri National Academy of Administration; Shri B.B. Nanawati, NeGP, PMU, Govt. of India; Dr. S.K. Agarwal, Vice Chairman, Transparency International India. Speakers will deliberate on issues like excellence in public service - issues and challenges; effective e-governance. There will also be case study presentation by Maharashtra Government on improvement of working of Zila Parishad.
The session on Manufacturing will be addressed by Prof. A K Choudhury, Six Sigma expert; Mr. Subir K Choudhury, Executive Vice President, JCB and by Tin Plate India Ltd. Speakers will deliberate issues like lean six sigma initiatives in manufacturing, cost reduction in supply chain management as well as best practice in manufacturing management.
The Session on Quality & Conformity Assessment will be addressed by Shri K P Nyati, Advisor, CII and Member EIA Technical Committee, Mr R K Sharma, Country Manager BVCI. It will discuss on topics like carbon footprint, ISO9001:2008 and other related topics.
The Valedictory address will be given by Swami Sarvolokanandji who will speak on the Indian spiritual way for improving quality of life.
Quality Council of India is today engaged in the endeavor of transforming all individual organizations into centers of excellence ,be it manufacturing industry, hospitals, educational institutions, or a public service establishment. The Quality Council of India in its own way, is facilitating different ministries/departments/regulators, both at the Centre as well as at the State level, to make use of conformity assessment structure, where appropriate. These initiatives are aimed at enabling government/regulators to deliver public services based on transparency, objectivity and competency, thereby assuring citizens of quality services/governance.
About Quality Council of India:
QCI was set up in 1997 as an autonomous body by the Government of India jointly with the Indian Industry to establish and operate the National Accreditation Structure for conformity assessment bodies. Indian industry is represented in QCI by three premier industry associations ASSOCHAM, CII and FICCI, QCI is also assigned the task of monitoring and administering the National Quality Campaign and to oversee effective functioning of the National Information and Enquiry Service. To realize the objective of improving quality competitiveness of Indian products and services, QCI provides strategic direction to the quality movement in the country by establishing recognition of Indian conformity assessment system at the international level.
CONTACT DETAILS
Mr. Sagarneel Dutta, Mutual Public Relations Limited, +91 9811631746, sdutta@mutualpr.com
Mr.Sunil Singh, Mutual Public Relations Limited, +91 9899161154, sunil@mutualpr.com
KEYWORDS
ECONOMY, PEOPLE, SOCIAL, MARKETING, BUSINESS SERVICES, EDUCATION, MEDIA, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Quality Council of India (QCI)
Saturday, January 31, 2009 02:25 PM IST (08:55 AM GMT)
Editors: General: Economy, People, Social issues; Business: Advertising, PR & marketing, Business services, Education & training, Media & entertainment; Healthcare
Release no: 19110
--------------------------------------------------
4th National Quality Conclave to Focus on "Quality for Empowering the Billion"
Special Emphasis on the Role of Quality in Transforming India into a Developed Country; Panelists & Speakers to Deliberate on Issues, Challenges & Quality Roadmaps across Key Industries
New Delhi, Delhi, India, Saturday, January 31, 2009 -- (Business Wire India) -- Quality Council of India (QCI), India's apex quality accreditation & facilitation body, functioning under the Department of Industrial Policy and Promotion is organizing its 4th National Quality Conclave on the 5th and 6th of February 2009. The 2 day event would be held at Hotel Le Meridian, New Delhi.
With a powerful theme "Quality for Empowering the Billion", reflecting former President of India, Prof APJ Abdul Kalam's vision on the role of QCI, the conclave will focus on exploring the roles and responsibilities that quality is taking in order to respond to national initiatives on key issues for transforming India into a developed country. The theme is aligned with the focus areas of the Council, namely, Education, Healthcare, Public Services and Manufacturing. Within the framework of the theme, the Conclave will offer the participants an opportunity to update knowledge on innovative ideas and best practices relating to quality in industry, governance, education, healthcare, environment, conformity assessment and others.
The 2 day event comprising of 9 sessions will witness many eminent personalities and luminaries of national and international repute speaking and deliberating on the issues. More than 1000 delegates including policy and decision makers, academic leaders, healthcare experts, quality and environment experts, professionals, corporate, students, teachers and NGOs, will attend the sessions during the event.
The defining address will be delivered by Prof. Noriaki Kano, the world renowned educationist and scientist, who is the creator of the famed "Attractive Quality Creation" methodologies and techniques, also popularly known as the "Kano Model". Prof Noriaki Kano, is a recipient of numerous international awards in the field of quality management. Over the years, he has made outstanding contributions to industrial development through quality across different countries.
The plenary Session on "Quality for Empowering the Billion" will be addressed by Dr. Mrityunjay Athreya, renowned Management Expert and Mr. Vishal Bali, CEO Wockhardt Hospital and Prof E.Balagurusamy, Member UPSC.
Announcing the theme for the event, Girdhar J Gyani, Secretary General, Quality Council of India, said, "This year's theme "Quality for Empowering the Billion" is yet another firm step towards taking the nation on the road to excellence. This heralds the beginning of India's journey towards achieving excellence, by brining the spheres of education, healthcare and food within the ambit of quality aside of manufacturing and service sectors. This time around empowerment is being emphasized because autonomy, mobilization of adequate resources, providing state-of-the-art infrastructure, excellent team work, meticulous planning & evaluation, and above all, a firm commitment to excel are some of the vital ingredients of achieving this."
The event is being sponsored by the National Accreditation Board for Testing & Calibration Laboratories and D. L. Shah Trust. QCI will also announce the D. L. Shah Award on "Economics of Quality - Best Projects on Cost Savings" during the event for which leading organizations have participated from across the country.
The event will offer a platform for the delegates to update their knowledge base and exchange ideas and thought related to implementation of quality standards in education, healthcare and public service.
The session on Healthcare will be addressed by Dr. Narottam Puri, President, Fortis Healthcare; Dr. Gautam Sen, Presidential, Healthcare International.; Dr. Arti Verma, Chief Medical Excellence Programme, Max Healthcare; Dr. Harish Nadkarni, Six Sigma Expert on healthcare; Dr. Geeta Mehta, President, Infection Control Society of India; Dr. K. Marikar, CEO, Malaysian Society for Quality Healthcare. Speakers will deliberate on strategic planning for improving clinical outcome, capturing voice of patients, good practices on infection control, applying six sigma in healthcare, developing clinical indicators and managing global quality in healthcare.
The session on Education will be addressed By Prof. Bhoomittra Dev, Vice Chancellor, Mangalayatan University, Aligarh; Dr. Dinesh, Advisor, Quality Assurance, AICTE; Shri R. Raghuttama Rao, Managing Director, ICRA Management Consulting Services.; Swami Ishatmananda, Secretary, Ram Krishna Mission, Arunachal Pradesh; Mrs. Rupa Chakravarty, Principal, Suncity School, Gurgaon and Shri Parimal Rai, Chairman, New Delhi Municipal Corporation. Panelists will discuss issues like emerging quality paradigms in education, impact of Washington Accord on Indian Education, technology and innovation management in education, value nurturing and integration in Schools and holistic development of students as well as school accreditation initiatives of NDMC.
The session on Quality in Public Services will be addressed by Mr. Padam Vir Singh, Joint Director, Lal Bahadur Shastri National Academy of Administration; Shri B.B. Nanawati, NeGP, PMU, Govt. of India; Dr. S.K. Agarwal, Vice Chairman, Transparency International India. Speakers will deliberate on issues like excellence in public service - issues and challenges; effective e-governance. There will also be case study presentation by Maharashtra Government on improvement of working of Zila Parishad.
The session on Manufacturing will be addressed by Prof. A K Choudhury, Six Sigma expert; Mr. Subir K Choudhury, Executive Vice President, JCB and by Tin Plate India Ltd. Speakers will deliberate issues like lean six sigma initiatives in manufacturing, cost reduction in supply chain management as well as best practice in manufacturing management.
The Session on Quality & Conformity Assessment will be addressed by Shri K P Nyati, Advisor, CII and Member EIA Technical Committee, Mr R K Sharma, Country Manager BVCI. It will discuss on topics like carbon footprint, ISO9001:2008 and other related topics.
The Valedictory address will be given by Swami Sarvolokanandji who will speak on the Indian spiritual way for improving quality of life.
Quality Council of India is today engaged in the endeavor of transforming all individual organizations into centers of excellence ,be it manufacturing industry, hospitals, educational institutions, or a public service establishment. The Quality Council of India in its own way, is facilitating different ministries/departments/regulators, both at the Centre as well as at the State level, to make use of conformity assessment structure, where appropriate. These initiatives are aimed at enabling government/regulators to deliver public services based on transparency, objectivity and competency, thereby assuring citizens of quality services/governance.
About Quality Council of India:
QCI was set up in 1997 as an autonomous body by the Government of India jointly with the Indian Industry to establish and operate the National Accreditation Structure for conformity assessment bodies. Indian industry is represented in QCI by three premier industry associations ASSOCHAM, CII and FICCI, QCI is also assigned the task of monitoring and administering the National Quality Campaign and to oversee effective functioning of the National Information and Enquiry Service. To realize the objective of improving quality competitiveness of Indian products and services, QCI provides strategic direction to the quality movement in the country by establishing recognition of Indian conformity assessment system at the international level.
CONTACT DETAILS
Mr. Sagarneel Dutta, Mutual Public Relations Limited, +91 9811631746, sdutta@mutualpr.com
Mr.Sunil Singh, Mutual Public Relations Limited, +91 9899161154, sunil@mutualpr.com
KEYWORDS
ECONOMY, PEOPLE, SOCIAL, MARKETING, BUSINESS SERVICES, EDUCATION, MEDIA, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Friday, January 30, 2009
BWI: Cranes Software’s 9M FY09 Consolidated Revenues up 26% to Rs. 3,523 Million
Press release from Business Wire India
Source: Cranes Software International Ltd.
Friday, January 30, 2009 08:49 PM IST (03:19 PM GMT)
Editors: General: Consumer interest; Business: Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 19106
--------------------------------------------------
Cranes Software's 9M FY09 Consolidated Revenues up 26% to Rs. 3,523 Million
PAT Higher by 12% to Rs. 932 Million
Bangalore, Karnataka, India, Friday, January 30, 2009 -- (Business Wire India) -- Cranes Software International Ltd. (Cranes), a Company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe, today announced its audited financial results for the quarter ended December 31, 2008.
Cranes Software Group's financial performance review:
Corresponding Nine Monthly Comparison
9M FY09 (April - December 2008) v/s 9M FY08 (April - December 2007)
-- Total revenues were up 26% to Rs. 3,523 million from Rs. 2,791 million
-- Overseas revenues increased 33% and constitute 86% of total revenues
-- Domestic revenues at Rs. 484 million for the period under review
-- Operating profit improved by 16 % to Rs. 1,763 million from Rs. 1,517 million
-- Net profit after tax is up 12% to Rs. 932 million from Rs. 832 million. Accordingly, diluted EPS grew 12.4% from Rs. 6.42 to Rs. 7.22 for the period under review
Corresponding Quarterly Comparison
Q3 FY09 (October - December 2008) v/s Q3 FY08 (October - December 2007)
-- Total revenues higher by 6% to Rs. 1,102 million compared to Rs. 1,039 million in the previous corresponding quarter
-- Overseas revenues increased by 4% to Rs. 900 million and constitutes 82% of total revenues
-- Operating profit was down 3% to Rs. 546 million from Rs. 565 million. Operating margins were at 49% for the quarter ended December'08
-- Net profit after tax fell 15% to Rs. 267 million translating into diluted EPS of Rs. 2.08 for the quarter under review
Business-wise Revenue Analysis
(Proprietary products grew by 31% on a corresponding basis and constitute 87% of total revenues. We expect this segment to grow at a healthy pace and constitute majority of total revenues.
Commenting on the financial results, Asif Khader, Managing Director, Cranes Software International Limited, said:
"Cranes Software has registered a growth of 26% in revenues to Rs. 3,523 million while PAT reflected a modest growth of 12% to Rs. 932 million Our business continues to remain robust, although reflective of current economic realities, we also did and do face challenges, particularly in regard to customer collections. Consequent upon these challenges, in spite of indents available for supply of products, during the quarter under review, we curtailed supplies particularly to recalcitrant distributors and hence, in fact, on a Sequential Quarter basis, there was drop of 13% in Revenue. Our effort continues to be focused on the Engineering and Scientific software segment, and simultaneously towards the robust areas of engineering simulation software and enterprise data analytics software since these products aid advancement of business processes and promote innovation. During the quarter, having completed the acquisition, Cranes successfully, at an operating level, integrated its recent acquisition of Cubeware, a business intelligence product company headquartered in Rosenheim, Germany. Financial integration of systems is yet to take place, however, and hence, the results do not reflect the impact of this acquisition. Going forward, we at Cranes will continue to focus on sustaining long term growth and improve productivity of resources in order to advance in this tough environment."
About Cranes Software International Limited (BSE: 512093. NSE: Cranessoft-eq.)
Cranes Software International Limited, through its software products and productized solutions addresses the needs of scientists, engineers, researchers, and decision makers in multinational companies, governments, defence establishments, academia and research institutions in the aerospace, automotive engineering, banking and financial services, bioinformatics, biology, biotech, chemistry, physics, communications, consumer research and marketing, criminological sciences, cryptography, defence, electronics engineering, empirical analysis, engineering, environmental sciences, genetics, geo sciences, life sciences, material characteristics, material sciences, medical research, oil exploration, pathology, psychological research, quality control, remote sensing, signal processing and telecommunications space. While Cranes Software's core areas of operations are Enterprise Analytics, Engineering Design, Simulation and Testing, the company's business interests also include high-end training services and R & D in future technologies.
Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, eta/VPG, eta/DYNAFORM, XID, XIP, Survey ASYST, iCap Reporter, iCap Webmaster, iCap Dashboarder, iCap Data Primer, InventX, Cubeware Cockpit, Cubeware Team Server, Cubeware Importer and world-renowned products from reputed principals such as Livermore Software Technology Corporation, The Mathworks, Texas Instruments, dSPACE, Mentor Graphics, IBM, Genomatix Software Inc. and Breault Research. The company also has alliances with Microsoft, BusinessObjects, BEA, Borland, Net Solutions, Anantara, Wipro and Craft Silicon. Cranes Software has a presence in 39 countries (through its direct offices, subsidiaries, channel partners, franchise relationships and other alliances) and has global user base of over 350,000 users.
Systat Software Asia Pacific Ltd., Systat Software Inc., Systat Software GmbH., Cranes Software Inc., Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytix Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Softwares Pvt. Ltd., Engineering Technology Associates Inc., Engineering Technology Associates (Shanghai) Inc., Esqube Communication Solutions Pvt. Ltd. and Cubeware GmbH, are subsidiaries of Cranes Software International limited. In Australia, Cranes operates through a franchise relationship with Hearne Scientific Software.
For further information please visit www.cranessoftware.com
Note to the announcement:
This press release discusses the unaudited financial performance of Cranes Software International Limited on a consolidated basis. This includes the performance of its subsidiaries Systat Software Asia Pacific Ltd., Systat Software Inc., USA, Systat Software GmbH., Germany,., Cranes Software Inc., USA, Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytics Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Software Pvt. Ltd., Engineering Technology Associates Inc., USA (ETA Inc., USA) and Engineering Technology Associates (Shanghai) Inc., China (Subsidiary of ETA Inc., USA) and Esqube Communication Solutions Pvt. Ltd.
To view the press release with tables, please click on the link given below:
Results Table
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Cranes_Results.pdf
Cranes_Results.pdf
CONTACT DETAILS
Gavin Desa, Citigate Dewe Rogerson, +91 22 4007 5036, gavin@cdr-india.com
Aditya Bedi, Citigate Dewe Rogerson, +91 22 2284 4561, aditya@cdr-india.com
KEYWORDS
CONSUMER, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, 512093.BO, CRANESSOFT.NS
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Cranes Software International Ltd.
Friday, January 30, 2009 08:49 PM IST (03:19 PM GMT)
Editors: General: Consumer interest; Business: Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 19106
--------------------------------------------------
Cranes Software's 9M FY09 Consolidated Revenues up 26% to Rs. 3,523 Million
PAT Higher by 12% to Rs. 932 Million
Bangalore, Karnataka, India, Friday, January 30, 2009 -- (Business Wire India) -- Cranes Software International Ltd. (Cranes), a Company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe, today announced its audited financial results for the quarter ended December 31, 2008.
Cranes Software Group's financial performance review:
Corresponding Nine Monthly Comparison
9M FY09 (April - December 2008) v/s 9M FY08 (April - December 2007)
-- Total revenues were up 26% to Rs. 3,523 million from Rs. 2,791 million
-- Overseas revenues increased 33% and constitute 86% of total revenues
-- Domestic revenues at Rs. 484 million for the period under review
-- Operating profit improved by 16 % to Rs. 1,763 million from Rs. 1,517 million
-- Net profit after tax is up 12% to Rs. 932 million from Rs. 832 million. Accordingly, diluted EPS grew 12.4% from Rs. 6.42 to Rs. 7.22 for the period under review
Corresponding Quarterly Comparison
Q3 FY09 (October - December 2008) v/s Q3 FY08 (October - December 2007)
-- Total revenues higher by 6% to Rs. 1,102 million compared to Rs. 1,039 million in the previous corresponding quarter
-- Overseas revenues increased by 4% to Rs. 900 million and constitutes 82% of total revenues
-- Operating profit was down 3% to Rs. 546 million from Rs. 565 million. Operating margins were at 49% for the quarter ended December'08
-- Net profit after tax fell 15% to Rs. 267 million translating into diluted EPS of Rs. 2.08 for the quarter under review
Business-wise Revenue Analysis
(Rs. Million) Q3 FY2009 Q3 FY2008 9M FY2009
Proprietary Products 934 864 3052
Product Alliances 126 132 371
Training 41 42 95
(Proprietary products grew by 31% on a corresponding basis and constitute 87% of total revenues. We expect this segment to grow at a healthy pace and constitute majority of total revenues.
Commenting on the financial results, Asif Khader, Managing Director, Cranes Software International Limited, said:
"Cranes Software has registered a growth of 26% in revenues to Rs. 3,523 million while PAT reflected a modest growth of 12% to Rs. 932 million Our business continues to remain robust, although reflective of current economic realities, we also did and do face challenges, particularly in regard to customer collections. Consequent upon these challenges, in spite of indents available for supply of products, during the quarter under review, we curtailed supplies particularly to recalcitrant distributors and hence, in fact, on a Sequential Quarter basis, there was drop of 13% in Revenue. Our effort continues to be focused on the Engineering and Scientific software segment, and simultaneously towards the robust areas of engineering simulation software and enterprise data analytics software since these products aid advancement of business processes and promote innovation. During the quarter, having completed the acquisition, Cranes successfully, at an operating level, integrated its recent acquisition of Cubeware, a business intelligence product company headquartered in Rosenheim, Germany. Financial integration of systems is yet to take place, however, and hence, the results do not reflect the impact of this acquisition. Going forward, we at Cranes will continue to focus on sustaining long term growth and improve productivity of resources in order to advance in this tough environment."
About Cranes Software International Limited (BSE: 512093. NSE: Cranessoft-eq.)
Cranes Software International Limited, through its software products and productized solutions addresses the needs of scientists, engineers, researchers, and decision makers in multinational companies, governments, defence establishments, academia and research institutions in the aerospace, automotive engineering, banking and financial services, bioinformatics, biology, biotech, chemistry, physics, communications, consumer research and marketing, criminological sciences, cryptography, defence, electronics engineering, empirical analysis, engineering, environmental sciences, genetics, geo sciences, life sciences, material characteristics, material sciences, medical research, oil exploration, pathology, psychological research, quality control, remote sensing, signal processing and telecommunications space. While Cranes Software's core areas of operations are Enterprise Analytics, Engineering Design, Simulation and Testing, the company's business interests also include high-end training services and R & D in future technologies.
Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, eta/VPG, eta/DYNAFORM, XID, XIP, Survey ASYST, iCap Reporter, iCap Webmaster, iCap Dashboarder, iCap Data Primer, InventX, Cubeware Cockpit, Cubeware Team Server, Cubeware Importer and world-renowned products from reputed principals such as Livermore Software Technology Corporation, The Mathworks, Texas Instruments, dSPACE, Mentor Graphics, IBM, Genomatix Software Inc. and Breault Research. The company also has alliances with Microsoft, BusinessObjects, BEA, Borland, Net Solutions, Anantara, Wipro and Craft Silicon. Cranes Software has a presence in 39 countries (through its direct offices, subsidiaries, channel partners, franchise relationships and other alliances) and has global user base of over 350,000 users.
Systat Software Asia Pacific Ltd., Systat Software Inc., Systat Software GmbH., Cranes Software Inc., Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytix Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Softwares Pvt. Ltd., Engineering Technology Associates Inc., Engineering Technology Associates (Shanghai) Inc., Esqube Communication Solutions Pvt. Ltd. and Cubeware GmbH, are subsidiaries of Cranes Software International limited. In Australia, Cranes operates through a franchise relationship with Hearne Scientific Software.
For further information please visit www.cranessoftware.com
Note to the announcement:
This press release discusses the unaudited financial performance of Cranes Software International Limited on a consolidated basis. This includes the performance of its subsidiaries Systat Software Asia Pacific Ltd., Systat Software Inc., USA, Systat Software GmbH., Germany,., Cranes Software Inc., USA, Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytics Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Software Pvt. Ltd., Engineering Technology Associates Inc., USA (ETA Inc., USA) and Engineering Technology Associates (Shanghai) Inc., China (Subsidiary of ETA Inc., USA) and Esqube Communication Solutions Pvt. Ltd.
To view the press release with tables, please click on the link given below:
Results Table
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Cranes_Results.pdf
Cranes_Results.pdf
CONTACT DETAILS
Gavin Desa, Citigate Dewe Rogerson, +91 22 4007 5036, gavin@cdr-india.com
Aditya Bedi, Citigate Dewe Rogerson, +91 22 2284 4561, aditya@cdr-india.com
KEYWORDS
CONSUMER, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, 512093.BO, CRANESSOFT.NS
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Cranes Software’s 9M FY09 Consolidated Revenues up 26% to Rs. 3,523 Million
Press release from Business Wire India
Source: Cranes Software International Ltd.
Friday, January 30, 2009 08:49 PM IST (03:19 PM GMT)
Editors: General: Consumer interest; Business: Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 19106
--------------------------------------------------
Cranes Software's 9M FY09 Consolidated Revenues up 26% to Rs. 3,523 Million
PAT Higher by 12% to Rs. 932 Million
Bangalore, Karnataka, India, Friday, January 30, 2009 -- (Business Wire India) -- Cranes Software International Ltd. (Cranes), a Company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe, today announced its audited financial results for the quarter ended December 31, 2008.
Cranes Software Group's financial performance review:
Corresponding Nine Monthly Comparison
9M FY09 (April - December 2008) v/s 9M FY08 (April - December 2007)
-- Total revenues were up 26% to Rs. 3,523 million from Rs. 2,791 million
-- Overseas revenues increased 33% and constitute 86% of total revenues
-- Domestic revenues at Rs. 484 million for the period under review
-- Operating profit improved by 16 % to Rs. 1,763 million from Rs. 1,517 million
-- Net profit after tax is up 12% to Rs. 932 million from Rs. 832 million. Accordingly, diluted EPS grew 12.4% from Rs. 6.42 to Rs. 7.22 for the period under review
Corresponding Quarterly Comparison
Q3 FY09 (October - December 2008) v/s Q3 FY08 (October - December 2007)
-- Total revenues higher by 6% to Rs. 1,102 million compared to Rs. 1,039 million in the previous corresponding quarter
-- Overseas revenues increased by 4% to Rs. 900 million and constitutes 82% of total revenues
-- Operating profit was down 3% to Rs. 546 million from Rs. 565 million. Operating margins were at 49% for the quarter ended December'08
-- Net profit after tax fell 15% to Rs. 267 million translating into diluted EPS of Rs. 2.08 for the quarter under review
Business-wise Revenue Analysis
(Proprietary products grew by 31% on a corresponding basis and constitute 87% of total revenues. We expect this segment to grow at a healthy pace and constitute majority of total revenues.
Commenting on the financial results, Asif Khader, Managing Director, Cranes Software International Limited, said:
"Cranes Software has registered a growth of 26% in revenues to Rs. 3,523 million while PAT reflected a modest growth of 12% to Rs. 932 million Our business continues to remain robust, although reflective of current economic realities, we also did and do face challenges, particularly in regard to customer collections. Consequent upon these challenges, in spite of indents available for supply of products, during the quarter under review, we curtailed supplies particularly to recalcitrant distributors and hence, in fact, on a Sequential Quarter basis, there was drop of 13% in Revenue. Our effort continues to be focused on the Engineering and Scientific software segment, and simultaneously towards the robust areas of engineering simulation software and enterprise data analytics software since these products aid advancement of business processes and promote innovation. During the quarter, having completed the acquisition, Cranes successfully, at an operating level, integrated its recent acquisition of Cubeware, a business intelligence product company headquartered in Rosenheim, Germany. Financial integration of systems is yet to take place, however, and hence, the results do not reflect the impact of this acquisition. Going forward, we at Cranes will continue to focus on sustaining long term growth and improve productivity of resources in order to advance in this tough environment."
About Cranes Software International Limited (BSE: 512093. NSE: Cranessoft-eq.)
Cranes Software International Limited, through its software products and productized solutions addresses the needs of scientists, engineers, researchers, and decision makers in multinational companies, governments, defence establishments, academia and research institutions in the aerospace, automotive engineering, banking and financial services, bioinformatics, biology, biotech, chemistry, physics, communications, consumer research and marketing, criminological sciences, cryptography, defence, electronics engineering, empirical analysis, engineering, environmental sciences, genetics, geo sciences, life sciences, material characteristics, material sciences, medical research, oil exploration, pathology, psychological research, quality control, remote sensing, signal processing and telecommunications space. While Cranes Software's core areas of operations are Enterprise Analytics, Engineering Design, Simulation and Testing, the company's business interests also include high-end training services and R & D in future technologies.
Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, eta/VPG, eta/DYNAFORM, XID, XIP, Survey ASYST, iCap Reporter, iCap Webmaster, iCap Dashboarder, iCap Data Primer, InventX, Cubeware Cockpit, Cubeware Team Server, Cubeware Importer and world-renowned products from reputed principals such as Livermore Software Technology Corporation, The Mathworks, Texas Instruments, dSPACE, Mentor Graphics, IBM, Genomatix Software Inc. and Breault Research. The company also has alliances with Microsoft, BusinessObjects, BEA, Borland, Net Solutions, Anantara, Wipro and Craft Silicon. Cranes Software has a presence in 39 countries (through its direct offices, subsidiaries, channel partners, franchise relationships and other alliances) and has global user base of over 350,000 users.
Systat Software Asia Pacific Ltd., Systat Software Inc., Systat Software GmbH., Cranes Software Inc., Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytix Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Softwares Pvt. Ltd., Engineering Technology Associates Inc., Engineering Technology Associates (Shanghai) Inc., Esqube Communication Solutions Pvt. Ltd. and Cubeware GmbH, are subsidiaries of Cranes Software International limited. In Australia, Cranes operates through a franchise relationship with Hearne Scientific Software.
For further information please visit www.cranessoftware.com
Note to the announcement:
This press release discusses the unaudited financial performance of Cranes Software International Limited on a consolidated basis. This includes the performance of its subsidiaries Systat Software Asia Pacific Ltd., Systat Software Inc., USA, Systat Software GmbH., Germany,., Cranes Software Inc., USA, Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytics Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Software Pvt. Ltd., Engineering Technology Associates Inc., USA (ETA Inc., USA) and Engineering Technology Associates (Shanghai) Inc., China (Subsidiary of ETA Inc., USA) and Esqube Communication Solutions Pvt. Ltd.
To view the press release with tables, please click on the link given below:
Results Table
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Cranes_Results.pdf
Cranes_Results.pdf
CONTACT DETAILS
Gavin Desa, Citigate Dewe Rogerson, +91 22 4007 5036, gavin@cdr-india.com
Aditya Bedi, Citigate Dewe Rogerson, +91 22 2284 4561, aditya@cdr-india.com
KEYWORDS
CONSUMER, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, 512093.BO, CRANESSOFT.NS
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Cranes Software International Ltd.
Friday, January 30, 2009 08:49 PM IST (03:19 PM GMT)
Editors: General: Consumer interest; Business: Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 19106
--------------------------------------------------
Cranes Software's 9M FY09 Consolidated Revenues up 26% to Rs. 3,523 Million
PAT Higher by 12% to Rs. 932 Million
Bangalore, Karnataka, India, Friday, January 30, 2009 -- (Business Wire India) -- Cranes Software International Ltd. (Cranes), a Company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe, today announced its audited financial results for the quarter ended December 31, 2008.
Cranes Software Group's financial performance review:
Corresponding Nine Monthly Comparison
9M FY09 (April - December 2008) v/s 9M FY08 (April - December 2007)
-- Total revenues were up 26% to Rs. 3,523 million from Rs. 2,791 million
-- Overseas revenues increased 33% and constitute 86% of total revenues
-- Domestic revenues at Rs. 484 million for the period under review
-- Operating profit improved by 16 % to Rs. 1,763 million from Rs. 1,517 million
-- Net profit after tax is up 12% to Rs. 932 million from Rs. 832 million. Accordingly, diluted EPS grew 12.4% from Rs. 6.42 to Rs. 7.22 for the period under review
Corresponding Quarterly Comparison
Q3 FY09 (October - December 2008) v/s Q3 FY08 (October - December 2007)
-- Total revenues higher by 6% to Rs. 1,102 million compared to Rs. 1,039 million in the previous corresponding quarter
-- Overseas revenues increased by 4% to Rs. 900 million and constitutes 82% of total revenues
-- Operating profit was down 3% to Rs. 546 million from Rs. 565 million. Operating margins were at 49% for the quarter ended December'08
-- Net profit after tax fell 15% to Rs. 267 million translating into diluted EPS of Rs. 2.08 for the quarter under review
Business-wise Revenue Analysis
(Rs. Million) Q3 FY2009 Q3 FY2008 9M FY2009
Proprietary Products 934 864 3052
Product Alliances 126 132 371
Training 41 42 95
(Proprietary products grew by 31% on a corresponding basis and constitute 87% of total revenues. We expect this segment to grow at a healthy pace and constitute majority of total revenues.
Commenting on the financial results, Asif Khader, Managing Director, Cranes Software International Limited, said:
"Cranes Software has registered a growth of 26% in revenues to Rs. 3,523 million while PAT reflected a modest growth of 12% to Rs. 932 million Our business continues to remain robust, although reflective of current economic realities, we also did and do face challenges, particularly in regard to customer collections. Consequent upon these challenges, in spite of indents available for supply of products, during the quarter under review, we curtailed supplies particularly to recalcitrant distributors and hence, in fact, on a Sequential Quarter basis, there was drop of 13% in Revenue. Our effort continues to be focused on the Engineering and Scientific software segment, and simultaneously towards the robust areas of engineering simulation software and enterprise data analytics software since these products aid advancement of business processes and promote innovation. During the quarter, having completed the acquisition, Cranes successfully, at an operating level, integrated its recent acquisition of Cubeware, a business intelligence product company headquartered in Rosenheim, Germany. Financial integration of systems is yet to take place, however, and hence, the results do not reflect the impact of this acquisition. Going forward, we at Cranes will continue to focus on sustaining long term growth and improve productivity of resources in order to advance in this tough environment."
About Cranes Software International Limited (BSE: 512093. NSE: Cranessoft-eq.)
Cranes Software International Limited, through its software products and productized solutions addresses the needs of scientists, engineers, researchers, and decision makers in multinational companies, governments, defence establishments, academia and research institutions in the aerospace, automotive engineering, banking and financial services, bioinformatics, biology, biotech, chemistry, physics, communications, consumer research and marketing, criminological sciences, cryptography, defence, electronics engineering, empirical analysis, engineering, environmental sciences, genetics, geo sciences, life sciences, material characteristics, material sciences, medical research, oil exploration, pathology, psychological research, quality control, remote sensing, signal processing and telecommunications space. While Cranes Software's core areas of operations are Enterprise Analytics, Engineering Design, Simulation and Testing, the company's business interests also include high-end training services and R & D in future technologies.
Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, eta/VPG, eta/DYNAFORM, XID, XIP, Survey ASYST, iCap Reporter, iCap Webmaster, iCap Dashboarder, iCap Data Primer, InventX, Cubeware Cockpit, Cubeware Team Server, Cubeware Importer and world-renowned products from reputed principals such as Livermore Software Technology Corporation, The Mathworks, Texas Instruments, dSPACE, Mentor Graphics, IBM, Genomatix Software Inc. and Breault Research. The company also has alliances with Microsoft, BusinessObjects, BEA, Borland, Net Solutions, Anantara, Wipro and Craft Silicon. Cranes Software has a presence in 39 countries (through its direct offices, subsidiaries, channel partners, franchise relationships and other alliances) and has global user base of over 350,000 users.
Systat Software Asia Pacific Ltd., Systat Software Inc., Systat Software GmbH., Cranes Software Inc., Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytix Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Softwares Pvt. Ltd., Engineering Technology Associates Inc., Engineering Technology Associates (Shanghai) Inc., Esqube Communication Solutions Pvt. Ltd. and Cubeware GmbH, are subsidiaries of Cranes Software International limited. In Australia, Cranes operates through a franchise relationship with Hearne Scientific Software.
For further information please visit www.cranessoftware.com
Note to the announcement:
This press release discusses the unaudited financial performance of Cranes Software International Limited on a consolidated basis. This includes the performance of its subsidiaries Systat Software Asia Pacific Ltd., Systat Software Inc., USA, Systat Software GmbH., Germany,., Cranes Software Inc., USA, Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytics Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Software Pvt. Ltd., Engineering Technology Associates Inc., USA (ETA Inc., USA) and Engineering Technology Associates (Shanghai) Inc., China (Subsidiary of ETA Inc., USA) and Esqube Communication Solutions Pvt. Ltd.
To view the press release with tables, please click on the link given below:
Results Table
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Cranes_Results.pdf
Cranes_Results.pdf
CONTACT DETAILS
Gavin Desa, Citigate Dewe Rogerson, +91 22 4007 5036, gavin@cdr-india.com
Aditya Bedi, Citigate Dewe Rogerson, +91 22 2284 4561, aditya@cdr-india.com
KEYWORDS
CONSUMER, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, 512093.BO, CRANESSOFT.NS
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Cranes Software’s 9M FY09 Consolidated Revenues up 26% to Rs. 3,523 Million
Press release from Business Wire India
Source: Cranes Software International Ltd.
Friday, January 30, 2009 08:49 PM IST (03:19 PM GMT)
Editors: General: Consumer interest; Business: Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 19106
--------------------------------------------------
Cranes Software's 9M FY09 Consolidated Revenues up 26% to Rs. 3,523 Million
PAT Higher by 12% to Rs. 932 Million
Bangalore, Karnataka, India, Friday, January 30, 2009 -- (Business Wire India) -- Cranes Software International Ltd. (Cranes), a Company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe, today announced its audited financial results for the quarter ended December 31, 2008.
Cranes Software Group's financial performance review:
Corresponding Nine Monthly Comparison
9M FY09 (April - December 2008) v/s 9M FY08 (April - December 2007)
-- Total revenues were up 26% to Rs. 3,523 million from Rs. 2,791 million
-- Overseas revenues increased 33% and constitute 86% of total revenues
-- Domestic revenues at Rs. 484 million for the period under review
-- Operating profit improved by 16 % to Rs. 1,763 million from Rs. 1,517 million
-- Net profit after tax is up 12% to Rs. 932 million from Rs. 832 million. Accordingly, diluted EPS grew 12.4% from Rs. 6.42 to Rs. 7.22 for the period under review
Corresponding Quarterly Comparison
Q3 FY09 (October - December 2008) v/s Q3 FY08 (October - December 2007)
-- Total revenues higher by 6% to Rs. 1,102 million compared to Rs. 1,039 million in the previous corresponding quarter
-- Overseas revenues increased by 4% to Rs. 900 million and constitutes 82% of total revenues
-- Operating profit was down 3% to Rs. 546 million from Rs. 565 million. Operating margins were at 49% for the quarter ended December'08
-- Net profit after tax fell 15% to Rs. 267 million translating into diluted EPS of Rs. 2.08 for the quarter under review
Business-wise Revenue Analysis
(Proprietary products grew by 31% on a corresponding basis and constitute 87% of total revenues. We expect this segment to grow at a healthy pace and constitute majority of total revenues.
Commenting on the financial results, Asif Khader, Managing Director, Cranes Software International Limited, said:
"Cranes Software has registered a growth of 26% in revenues to Rs. 3,523 million while PAT reflected a modest growth of 12% to Rs. 932 million Our business continues to remain robust, although reflective of current economic realities, we also did and do face challenges, particularly in regard to customer collections. Consequent upon these challenges, in spite of indents available for supply of products, during the quarter under review, we curtailed supplies particularly to recalcitrant distributors and hence, in fact, on a Sequential Quarter basis, there was drop of 13% in Revenue. Our effort continues to be focused on the Engineering and Scientific software segment, and simultaneously towards the robust areas of engineering simulation software and enterprise data analytics software since these products aid advancement of business processes and promote innovation. During the quarter, having completed the acquisition, Cranes successfully, at an operating level, integrated its recent acquisition of Cubeware, a business intelligence product company headquartered in Rosenheim, Germany. Financial integration of systems is yet to take place, however, and hence, the results do not reflect the impact of this acquisition. Going forward, we at Cranes will continue to focus on sustaining long term growth and improve productivity of resources in order to advance in this tough environment."
About Cranes Software International Limited (BSE: 512093. NSE: Cranessoft-eq.)
Cranes Software International Limited, through its software products and productized solutions addresses the needs of scientists, engineers, researchers, and decision makers in multinational companies, governments, defence establishments, academia and research institutions in the aerospace, automotive engineering, banking and financial services, bioinformatics, biology, biotech, chemistry, physics, communications, consumer research and marketing, criminological sciences, cryptography, defence, electronics engineering, empirical analysis, engineering, environmental sciences, genetics, geo sciences, life sciences, material characteristics, material sciences, medical research, oil exploration, pathology, psychological research, quality control, remote sensing, signal processing and telecommunications space. While Cranes Software's core areas of operations are Enterprise Analytics, Engineering Design, Simulation and Testing, the company's business interests also include high-end training services and R & D in future technologies.
Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, eta/VPG, eta/DYNAFORM, XID, XIP, Survey ASYST, iCap Reporter, iCap Webmaster, iCap Dashboarder, iCap Data Primer, InventX, Cubeware Cockpit, Cubeware Team Server, Cubeware Importer and world-renowned products from reputed principals such as Livermore Software Technology Corporation, The Mathworks, Texas Instruments, dSPACE, Mentor Graphics, IBM, Genomatix Software Inc. and Breault Research. The company also has alliances with Microsoft, BusinessObjects, BEA, Borland, Net Solutions, Anantara, Wipro and Craft Silicon. Cranes Software has a presence in 39 countries (through its direct offices, subsidiaries, channel partners, franchise relationships and other alliances) and has global user base of over 350,000 users.
Systat Software Asia Pacific Ltd., Systat Software Inc., Systat Software GmbH., Cranes Software Inc., Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytix Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Softwares Pvt. Ltd., Engineering Technology Associates Inc., Engineering Technology Associates (Shanghai) Inc., Esqube Communication Solutions Pvt. Ltd. and Cubeware GmbH, are subsidiaries of Cranes Software International limited. In Australia, Cranes operates through a franchise relationship with Hearne Scientific Software.
For further information please visit www.cranessoftware.com
Note to the announcement:
This press release discusses the unaudited financial performance of Cranes Software International Limited on a consolidated basis. This includes the performance of its subsidiaries Systat Software Asia Pacific Ltd., Systat Software Inc., USA, Systat Software GmbH., Germany,., Cranes Software Inc., USA, Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytics Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Software Pvt. Ltd., Engineering Technology Associates Inc., USA (ETA Inc., USA) and Engineering Technology Associates (Shanghai) Inc., China (Subsidiary of ETA Inc., USA) and Esqube Communication Solutions Pvt. Ltd.
To view the press release with tables, please click on the link given below:
Results Table
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Cranes_Results.pdf
Cranes_Results.pdf
CONTACT DETAILS
Gavin Desa, Citigate Dewe Rogerson, +91 22 4007 5036, gavin@cdr-india.com
Aditya Bedi, Citigate Dewe Rogerson, +91 22 2284 4561, aditya@cdr-india.com
KEYWORDS
CONSUMER, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, 512093.BO, CRANESSOFT.NS
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Cranes Software International Ltd.
Friday, January 30, 2009 08:49 PM IST (03:19 PM GMT)
Editors: General: Consumer interest; Business: Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 19106
--------------------------------------------------
Cranes Software's 9M FY09 Consolidated Revenues up 26% to Rs. 3,523 Million
PAT Higher by 12% to Rs. 932 Million
Bangalore, Karnataka, India, Friday, January 30, 2009 -- (Business Wire India) -- Cranes Software International Ltd. (Cranes), a Company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe, today announced its audited financial results for the quarter ended December 31, 2008.
Cranes Software Group's financial performance review:
Corresponding Nine Monthly Comparison
9M FY09 (April - December 2008) v/s 9M FY08 (April - December 2007)
-- Total revenues were up 26% to Rs. 3,523 million from Rs. 2,791 million
-- Overseas revenues increased 33% and constitute 86% of total revenues
-- Domestic revenues at Rs. 484 million for the period under review
-- Operating profit improved by 16 % to Rs. 1,763 million from Rs. 1,517 million
-- Net profit after tax is up 12% to Rs. 932 million from Rs. 832 million. Accordingly, diluted EPS grew 12.4% from Rs. 6.42 to Rs. 7.22 for the period under review
Corresponding Quarterly Comparison
Q3 FY09 (October - December 2008) v/s Q3 FY08 (October - December 2007)
-- Total revenues higher by 6% to Rs. 1,102 million compared to Rs. 1,039 million in the previous corresponding quarter
-- Overseas revenues increased by 4% to Rs. 900 million and constitutes 82% of total revenues
-- Operating profit was down 3% to Rs. 546 million from Rs. 565 million. Operating margins were at 49% for the quarter ended December'08
-- Net profit after tax fell 15% to Rs. 267 million translating into diluted EPS of Rs. 2.08 for the quarter under review
Business-wise Revenue Analysis
(Rs. Million) Q3 FY2009 Q3 FY2008 9M FY2009
Proprietary Products 934 864 3052
Product Alliances 126 132 371
Training 41 42 95
(Proprietary products grew by 31% on a corresponding basis and constitute 87% of total revenues. We expect this segment to grow at a healthy pace and constitute majority of total revenues.
Commenting on the financial results, Asif Khader, Managing Director, Cranes Software International Limited, said:
"Cranes Software has registered a growth of 26% in revenues to Rs. 3,523 million while PAT reflected a modest growth of 12% to Rs. 932 million Our business continues to remain robust, although reflective of current economic realities, we also did and do face challenges, particularly in regard to customer collections. Consequent upon these challenges, in spite of indents available for supply of products, during the quarter under review, we curtailed supplies particularly to recalcitrant distributors and hence, in fact, on a Sequential Quarter basis, there was drop of 13% in Revenue. Our effort continues to be focused on the Engineering and Scientific software segment, and simultaneously towards the robust areas of engineering simulation software and enterprise data analytics software since these products aid advancement of business processes and promote innovation. During the quarter, having completed the acquisition, Cranes successfully, at an operating level, integrated its recent acquisition of Cubeware, a business intelligence product company headquartered in Rosenheim, Germany. Financial integration of systems is yet to take place, however, and hence, the results do not reflect the impact of this acquisition. Going forward, we at Cranes will continue to focus on sustaining long term growth and improve productivity of resources in order to advance in this tough environment."
About Cranes Software International Limited (BSE: 512093. NSE: Cranessoft-eq.)
Cranes Software International Limited, through its software products and productized solutions addresses the needs of scientists, engineers, researchers, and decision makers in multinational companies, governments, defence establishments, academia and research institutions in the aerospace, automotive engineering, banking and financial services, bioinformatics, biology, biotech, chemistry, physics, communications, consumer research and marketing, criminological sciences, cryptography, defence, electronics engineering, empirical analysis, engineering, environmental sciences, genetics, geo sciences, life sciences, material characteristics, material sciences, medical research, oil exploration, pathology, psychological research, quality control, remote sensing, signal processing and telecommunications space. While Cranes Software's core areas of operations are Enterprise Analytics, Engineering Design, Simulation and Testing, the company's business interests also include high-end training services and R & D in future technologies.
Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, eta/VPG, eta/DYNAFORM, XID, XIP, Survey ASYST, iCap Reporter, iCap Webmaster, iCap Dashboarder, iCap Data Primer, InventX, Cubeware Cockpit, Cubeware Team Server, Cubeware Importer and world-renowned products from reputed principals such as Livermore Software Technology Corporation, The Mathworks, Texas Instruments, dSPACE, Mentor Graphics, IBM, Genomatix Software Inc. and Breault Research. The company also has alliances with Microsoft, BusinessObjects, BEA, Borland, Net Solutions, Anantara, Wipro and Craft Silicon. Cranes Software has a presence in 39 countries (through its direct offices, subsidiaries, channel partners, franchise relationships and other alliances) and has global user base of over 350,000 users.
Systat Software Asia Pacific Ltd., Systat Software Inc., Systat Software GmbH., Cranes Software Inc., Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytix Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Softwares Pvt. Ltd., Engineering Technology Associates Inc., Engineering Technology Associates (Shanghai) Inc., Esqube Communication Solutions Pvt. Ltd. and Cubeware GmbH, are subsidiaries of Cranes Software International limited. In Australia, Cranes operates through a franchise relationship with Hearne Scientific Software.
For further information please visit www.cranessoftware.com
Note to the announcement:
This press release discusses the unaudited financial performance of Cranes Software International Limited on a consolidated basis. This includes the performance of its subsidiaries Systat Software Asia Pacific Ltd., Systat Software Inc., USA, Systat Software GmbH., Germany,., Cranes Software Inc., USA, Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytics Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Software Pvt. Ltd., Engineering Technology Associates Inc., USA (ETA Inc., USA) and Engineering Technology Associates (Shanghai) Inc., China (Subsidiary of ETA Inc., USA) and Esqube Communication Solutions Pvt. Ltd.
To view the press release with tables, please click on the link given below:
Results Table
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Cranes_Results.pdf
Cranes_Results.pdf
CONTACT DETAILS
Gavin Desa, Citigate Dewe Rogerson, +91 22 4007 5036, gavin@cdr-india.com
Aditya Bedi, Citigate Dewe Rogerson, +91 22 2284 4561, aditya@cdr-india.com
KEYWORDS
CONSUMER, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, 512093.BO, CRANESSOFT.NS
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Dilip Chhabria’s Unique, Futuristic Art Show Unveiled
Press release from Business Wire India
Source: Dilip Chhabria
Friday, January 30, 2009 06:13 PM IST (12:43 PM GMT)
Editors: General: Arts & culture, Entertainment, People; Business: Advertising, PR & marketing, Automotives, Media & entertainment; Automotive
Release no: 19105
--------------------------------------------------
Dilip Chhabria's Unique, Futuristic Art Show Unveiled
Renowned Auto Designer Foray into Paintings and Sculpture
Mumbai, Maharashtra, India, Friday, January 30, 2009 -- (Business Wire India) -- Dilip Chhabria, the world-renowned auto car designer, will showcase his artistic talent by hosting a one-of-its-kind exhibition of paintings and sculpture, for the very first time in the country, in Mumbai.
The art show, comprising contemporary paintings and sculptures that the artist describes as "next-gen and futuristic in nature", is being exhibited in the Crystal Room, Taj Mahal Hotel. The two-day exhibition is open to the public from January 31 (Saturday) to February 1st (Sunday), 2009.
The paintings are primarily in the colour scheme of red and black. The medium used is acrylic on canvas. The sculptures are made of disparate material such as natural wood, aluminum, steel, acrylic, glass and crystal.
Talking about the show, Dilip Chhabria said, "I am a painter at heart. I have always been painting for pleasure. It's just that the auto designer in me has taken the driver's seat. Today I share with you another side of my creative expressions through these paintings and sculptures."
Mr. Chhabria's many custom-built cars are works of art in the purest sense, representing perhaps the defining physical art of the past hundred years. He explains, "There is a difference of scale, but not of purpose, between a Faberge egg made for a Russian count and an exquisitely finished body on a Rolls Royce chassis bespoken by an Indian Maharaja. Both are examples of extraordinary human craftsmanship, extreme focus and intense passion, objects created to be admired and envied to their last detail. We / I have executed a record 600 plus original cars in the last 15 years and the knowledge, learning and sensibility for aesthetics thus gleaned has now been used to create these paintings and sculpture in the abstract genre."
The restlessness to succeed in this newest engagement comes not only from Mr. Chhabria's primal need to leave a mark as a designer, but more importantly to create paintings and sculptures that have the ability to stop people in their tracks through compelling and emotional values combined with a sense of style and unmistakable elegance and the rigours of sound construction. The sculptures are made up of disparate organic and inorganic material using up thousands of man-hours each, thus the last three year's quality and creativity is almost impossible to replicate. The manifestation of these values has come about by inventing a unique process of mating technology with craftsmanship of the highest order, and he has succeeded in conjoining art with engineering.
Likewise the paintings have the endowment of confident lines and forms, those that are harmonious and brash at the same time.
About Dilip Chhabria
Dilip Chhabria is one of India's foremost automobile designers.
Founder and promoter of Dilip Chhabria Design Private Limited, Dilip is currently recognized as the leading automobile designer in India. Qualified in Transportation Design from Art Centre of Design Pasadena, USA, and with a brief working stint with the Design Centre at General Motors USA, Dilip started his own auto accessory business and went on to become one of the largest auto accessory manufacturers in the country.
CONTACT DETAILS
Kaveeta Singh, Comma Consulting, +91 9833046171, ksingh@comma.in
Shruti Bhandari, Comma Consulting, +91 9920679268, sbhandari@comma.in
Vidya Dilip, Comma Consulting, +91 9323503846, vdilip@comma.in
KEYWORDS
ARTS, ENTERTAINMENT, PEOPLE, MARKETING, AUTOMOTIVE, MEDIA, AUTOMOTIVE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Dilip Chhabria
Friday, January 30, 2009 06:13 PM IST (12:43 PM GMT)
Editors: General: Arts & culture, Entertainment, People; Business: Advertising, PR & marketing, Automotives, Media & entertainment; Automotive
Release no: 19105
--------------------------------------------------
Dilip Chhabria's Unique, Futuristic Art Show Unveiled
Renowned Auto Designer Foray into Paintings and Sculpture
Mumbai, Maharashtra, India, Friday, January 30, 2009 -- (Business Wire India) -- Dilip Chhabria, the world-renowned auto car designer, will showcase his artistic talent by hosting a one-of-its-kind exhibition of paintings and sculpture, for the very first time in the country, in Mumbai.
The art show, comprising contemporary paintings and sculptures that the artist describes as "next-gen and futuristic in nature", is being exhibited in the Crystal Room, Taj Mahal Hotel. The two-day exhibition is open to the public from January 31 (Saturday) to February 1st (Sunday), 2009.
The paintings are primarily in the colour scheme of red and black. The medium used is acrylic on canvas. The sculptures are made of disparate material such as natural wood, aluminum, steel, acrylic, glass and crystal.
Talking about the show, Dilip Chhabria said, "I am a painter at heart. I have always been painting for pleasure. It's just that the auto designer in me has taken the driver's seat. Today I share with you another side of my creative expressions through these paintings and sculptures."
Mr. Chhabria's many custom-built cars are works of art in the purest sense, representing perhaps the defining physical art of the past hundred years. He explains, "There is a difference of scale, but not of purpose, between a Faberge egg made for a Russian count and an exquisitely finished body on a Rolls Royce chassis bespoken by an Indian Maharaja. Both are examples of extraordinary human craftsmanship, extreme focus and intense passion, objects created to be admired and envied to their last detail. We / I have executed a record 600 plus original cars in the last 15 years and the knowledge, learning and sensibility for aesthetics thus gleaned has now been used to create these paintings and sculpture in the abstract genre."
The restlessness to succeed in this newest engagement comes not only from Mr. Chhabria's primal need to leave a mark as a designer, but more importantly to create paintings and sculptures that have the ability to stop people in their tracks through compelling and emotional values combined with a sense of style and unmistakable elegance and the rigours of sound construction. The sculptures are made up of disparate organic and inorganic material using up thousands of man-hours each, thus the last three year's quality and creativity is almost impossible to replicate. The manifestation of these values has come about by inventing a unique process of mating technology with craftsmanship of the highest order, and he has succeeded in conjoining art with engineering.
Likewise the paintings have the endowment of confident lines and forms, those that are harmonious and brash at the same time.
About Dilip Chhabria
Dilip Chhabria is one of India's foremost automobile designers.
Founder and promoter of Dilip Chhabria Design Private Limited, Dilip is currently recognized as the leading automobile designer in India. Qualified in Transportation Design from Art Centre of Design Pasadena, USA, and with a brief working stint with the Design Centre at General Motors USA, Dilip started his own auto accessory business and went on to become one of the largest auto accessory manufacturers in the country.
CONTACT DETAILS
Kaveeta Singh, Comma Consulting, +91 9833046171, ksingh@comma.in
Shruti Bhandari, Comma Consulting, +91 9920679268, sbhandari@comma.in
Vidya Dilip, Comma Consulting, +91 9323503846, vdilip@comma.in
KEYWORDS
ARTS, ENTERTAINMENT, PEOPLE, MARKETING, AUTOMOTIVE, MEDIA, AUTOMOTIVE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: GHCL LIMITED - Summary of Financial Performance for Q3 / 9 Months, FY 2008-2009
Press release from Business Wire India
Source: GHCL Limited
Friday, January 30, 2009 06:03 PM IST (12:33 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Chemicals, Financial Analyst, Stock exchanges, Textiles
Release no: 19104
--------------------------------------------------
GHCL LIMITED - Summary of Financial Performance for Q3 / 9 Months, FY 2008-2009
New Delhi, Delhi, India, Friday, January 30, 2009 -- (Business Wire India) -- GHCL Limited, India's leading producer of soda ash today announced its results for Quarter ending DECEMBER 31, 2008.
GHCL has continued its growth journey during the first 9 months of the current year despite severe meltdown in the Global Economy. The Company has posted a very strong financial performance in its core business area of Inorganic Chemicals i.e. Soda Ash.
Total Revenue for Q3 FY 2008-09 declined by 5.35% to Rs. 283 crore from Rs. 299 crores reported in the Q3 FY 2007-08, Revenue for the first 9 months has increased to Rs. 919 crore as against Rs. 768 crore in the corresponding period of last year i.e. a growth of 20%. The revenue from Inorganic Operations has increased from Rs. 453 crore to Rs.612 crore i.e. a growth of 35%.
The Profit after Tax (PAT) for the quarter ended December 31, 2008, is dropped by 50 % to Rs. 16 Crore from Rs. 32 Crore reported in the quarter ended December 2007. For the nine months period PAT dropped by 10.1% at Rs. 80 Crore.
During the 3rd quarter October to December'08, the company undertook a planned shutdown (normally undertaken at an 18-month interval) for the maintenance of its Soda Ash Plant. There was no shutdown in the corresponding period of last year. This has resulted in reduction in production and sales during the current quarter. In addition, there was a marginal reduction in Soda Ash price (around 3%) during this quarter. Despite this, the revenue from the Inorganic Chemicals has gone up by 16% as compared to the corresponding quarter of last year. (Rs.201 crore vs Rs.174 crore).
The cost of production for Soda Ash during the quarter was high due to higher coal and other raw materials costs as the same were procured at the old contracted prices which now have come down significantly. The benefit of this reduced cost would be available to the company partly in Jan'09 and fully from March'09 onwards.
The Home-Textile operations got significantly affected due to worsening power situation in Tamil Nadu where the Government could not meet even 60% of our total power requirement. Besides this, the Global Economic meltdown which got accelerated in the last quarter of 2008, also to some extent affected our sales to USA and European Markets. Due to both these factors, the revenue of Home Textile division declined from Rs.124 crore last year to Rs.81 crore in current quarter. However, for April to December there is only a marginal drop in Home Textile Revenue from Rs. 309 crore last year to Rs. 303 crore this year.
Despite the above factors, for 9 months period April to Dec'8, the company has achieved a robust growth in both EBITDA and overall Operating Profit level as compared to last year.
The EBITDA margin for the business during the current year has improved from 22.6% to 24.4% and the overall EBITDA has increased from Rs.174 crore last year to Rs.225 crore this year i.e. 29% growth.
Profit from Operations (before exchange fluctuation) has increased from Rs.89 crore to Rs.113 crore i.e. an improvement of 27%.
We believe that going forward the Home Textile operations would show better performance in view of our major focus on the domestic market particularly the Retail Segment as well as our focus on European market where the margins are better.
We strongly feel that the Soda Ash segment would continue to perform quite strongly in the current year as well as the next year as the impact of significantly lower costs would be visible partly in Jan'09 and fully from March'09 onwards and the inventory correction by the user Industry is likely to be over soon.
About GHCL:
GHCL is a multi product transnational company based out of India. The company broadly operates under the domain of Home Textiles & Soda Ash with a strategic interest in ITES business.
The Indian operations include a spinning capacity close to 1,40,000 spindles GHCL thus has became the only vertically integrated (spinning to retail) home textiles player in the world.
In the soda ash business, GHCL is one of the top three players in India with an annual capacity of 850,000 TPA. It acquired a majority stake in S.C. Bega Upsom S.A.- a leading soda ash manufacturer in Romania. The company's total soda capacity at present is in the region of 1.15 million TPA, making it one of the leading soda ash players globally.
To view the press release with tables, please click on the link given below:
Press Release with Tables
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/GHCL - Final Press Brief Q3-09.doc
GHCL - Final Press Brief Q3-09.doc
CONTACT DETAILS
Amit Arora, Mutual PR, +91 9811154140, amit@mutualpr.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CHEMICALS, Financial Analyst, STOCK EXCHANGES, TEXTILES
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: GHCL Limited
Friday, January 30, 2009 06:03 PM IST (12:33 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Chemicals, Financial Analyst, Stock exchanges, Textiles
Release no: 19104
--------------------------------------------------
GHCL LIMITED - Summary of Financial Performance for Q3 / 9 Months, FY 2008-2009
New Delhi, Delhi, India, Friday, January 30, 2009 -- (Business Wire India) -- GHCL Limited, India's leading producer of soda ash today announced its results for Quarter ending DECEMBER 31, 2008.
GHCL has continued its growth journey during the first 9 months of the current year despite severe meltdown in the Global Economy. The Company has posted a very strong financial performance in its core business area of Inorganic Chemicals i.e. Soda Ash.
Total Revenue for Q3 FY 2008-09 declined by 5.35% to Rs. 283 crore from Rs. 299 crores reported in the Q3 FY 2007-08, Revenue for the first 9 months has increased to Rs. 919 crore as against Rs. 768 crore in the corresponding period of last year i.e. a growth of 20%. The revenue from Inorganic Operations has increased from Rs. 453 crore to Rs.612 crore i.e. a growth of 35%.
The Profit after Tax (PAT) for the quarter ended December 31, 2008, is dropped by 50 % to Rs. 16 Crore from Rs. 32 Crore reported in the quarter ended December 2007. For the nine months period PAT dropped by 10.1% at Rs. 80 Crore.
During the 3rd quarter October to December'08, the company undertook a planned shutdown (normally undertaken at an 18-month interval) for the maintenance of its Soda Ash Plant. There was no shutdown in the corresponding period of last year. This has resulted in reduction in production and sales during the current quarter. In addition, there was a marginal reduction in Soda Ash price (around 3%) during this quarter. Despite this, the revenue from the Inorganic Chemicals has gone up by 16% as compared to the corresponding quarter of last year. (Rs.201 crore vs Rs.174 crore).
The cost of production for Soda Ash during the quarter was high due to higher coal and other raw materials costs as the same were procured at the old contracted prices which now have come down significantly. The benefit of this reduced cost would be available to the company partly in Jan'09 and fully from March'09 onwards.
The Home-Textile operations got significantly affected due to worsening power situation in Tamil Nadu where the Government could not meet even 60% of our total power requirement. Besides this, the Global Economic meltdown which got accelerated in the last quarter of 2008, also to some extent affected our sales to USA and European Markets. Due to both these factors, the revenue of Home Textile division declined from Rs.124 crore last year to Rs.81 crore in current quarter. However, for April to December there is only a marginal drop in Home Textile Revenue from Rs. 309 crore last year to Rs. 303 crore this year.
Despite the above factors, for 9 months period April to Dec'8, the company has achieved a robust growth in both EBITDA and overall Operating Profit level as compared to last year.
The EBITDA margin for the business during the current year has improved from 22.6% to 24.4% and the overall EBITDA has increased from Rs.174 crore last year to Rs.225 crore this year i.e. 29% growth.
Profit from Operations (before exchange fluctuation) has increased from Rs.89 crore to Rs.113 crore i.e. an improvement of 27%.
We believe that going forward the Home Textile operations would show better performance in view of our major focus on the domestic market particularly the Retail Segment as well as our focus on European market where the margins are better.
We strongly feel that the Soda Ash segment would continue to perform quite strongly in the current year as well as the next year as the impact of significantly lower costs would be visible partly in Jan'09 and fully from March'09 onwards and the inventory correction by the user Industry is likely to be over soon.
About GHCL:
GHCL is a multi product transnational company based out of India. The company broadly operates under the domain of Home Textiles & Soda Ash with a strategic interest in ITES business.
The Indian operations include a spinning capacity close to 1,40,000 spindles GHCL thus has became the only vertically integrated (spinning to retail) home textiles player in the world.
In the soda ash business, GHCL is one of the top three players in India with an annual capacity of 850,000 TPA. It acquired a majority stake in S.C. Bega Upsom S.A.- a leading soda ash manufacturer in Romania. The company's total soda capacity at present is in the region of 1.15 million TPA, making it one of the leading soda ash players globally.
To view the press release with tables, please click on the link given below:
Press Release with Tables
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/GHCL - Final Press Brief Q3-09.doc
GHCL - Final Press Brief Q3-09.doc
CONTACT DETAILS
Amit Arora, Mutual PR, +91 9811154140, amit@mutualpr.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CHEMICALS, Financial Analyst, STOCK EXCHANGES, TEXTILES
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Simplex Projects Posts Impressive Results for Q3/ Nine Months, FY 2008-09
Press release from Business Wire India
Source: Simplex Projects Ltd
Friday, January 30, 2009 05:55 PM IST (12:25 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Construction, Financial Analyst, Real estate, Stock exchanges; Technology
Release no: 19103
--------------------------------------------------
Simplex Projects Posts Impressive Results for Q3/ Nine Months, FY 2008-09
New Delhi, Delhi, India, Friday, January 30, 2009 -- (Business Wire India) -- Simplex Projects Limited, a leading Civil Engineering & Construction Company, today announced its results for 3rd Quarter & 9 months ended December 31, 2008.
Financial Highlights - Third Quarter:
-- Total Income for Q3 FY 2008-09 at Rs.75.43 crores as against Rs. 58.69 crores reported in the Q3 FY 2007-08, is higher by 28.52%. Total Income for nine months FY 2008-09 at Rs. 207.87 crores, higher by 28.15%.
-- The Earnings Before Interest, Depreciation & Tax (EBIDTA) for Q3 FY 2008 - 09 increased by 16.55% to Rs. 8.47 Crores from Rs. 7.27 Crores while for the nine month ending 31st December, increased by 14.05% to Rs. 23.41 Crores, from Rs. 20.52 Crores last year.
-- The Profit after Tax (PAT) has decreased by 6.21% in Q3 to Rs. 4.91 Crores from Rs. 5.24 Crores reported in the quarter ended December 2007. For the nine months period it stood at Rs. 14.05 Crores registering an increase of 2.64%.
-- EPS for the quarter ended December 2008 is at Rs. 4.09 while for the 9 months ended December 2008 it is Rs. 11.71.
-- Awarded a Rs. 2000 crores contract for development of a Housing project in Libya from Govt. of Libya as public works contract.
-- Awarded a Rs.75 Crores contract for renovation of Talkatora Indoor Stadium from NDMC.
Commenting on the performance for the period ended December 2008, Mr. B. K. Mundra, CMD, Simplex Projects Limited, said, "This has been a landmark quarter where in we have set up our global footprint by venturing in to developing Rs2000 Crores integrated township project in Libya. We are fully geared-up for to face the challenges and would aggressively be pursuing the opportunities across the country and overseas."
During the quarter, SIMPLEX Projects has been awarded a contract for development of a housing project in Libya. The project is valued at Rs. 2000 Crores was awarded to Simplex Projects from Govt. of Libya as public works contract. The project includes construction of public building, schools, health centers, mosque, community hall and shopping complex.
Company has also has been awarded a contract from NDMC (New Delhi Municipal Corporation) to carry out major renovation and improvement work of Talkatora Indoor stadium, which will host the boxing events during the Common Wealth Games 2010. The contract valued at Rs. 75 Crores. Besides this, Simplex Projects is also executing another stadium project valued at Rs. 160 Crores, which includes a double basement car parking facility to accommodate more than 500 cars. The completion date for this project is November 2009.
The company's focus area of business includes residential buildings; industrial structures; hospitals; universities and educational campuses, transportation engineering like roads, bridges, flyovers & underpasses; irrigation and water supply projects; sewerage projects; commercial and and multi-level car parking.
Simplex Projects' clientele includes some of the major public sectors organizations like NBCC Ltd. BHEL, SBI, Konkan Railway, CPWD, Eastern Railway and major private sector organizations like L & T, DLF, Indian Hotels, Unitech, Godrej, Bengal Ambuja, Wipro, TISCO, Siemens Ltd.
Some of the ongoing civil and structural projects include construction of roads, flyovers and bridges in Patna and New Delhi; building projects for NBCC and New Delhi Municipal Corporation, Sports complex at Gangtok, Sikkim; design and construction of water treatment plant for PWD, Government of Manipur; and major piling and structural work for Delhi Metro, Marriot Hotel Kolkata; foundation work for WBIDC housing complex.
Simplex Projects has recently executed some major turnkey projects like construction of 4 road bridge at Patna; construction of 4 lane over-bridge at Taratala, Kolkata; construction of bridge at Shaktigarh and Palsit; construction of 14 story building for Bengal Ambuja Cement at Kolkata; civil and construction work for a 36 MW power project at Imphal, Manipur; civil and construction work at Bihar Caustic & Chemicals ltd. plant at Garhwa Road.
About Simplex
Simplex Projects Ltd. is primarily engaged in infrastructure construction and has a strong presence in the North and Eastern India. Incorporated in 1990 as a Public Limited Company, Simplex Projects started commercial operations in 1993. In a decade of its working the company has emerged as a major civil engineering and construction company. It's plant and Equipment resources encompass a very vide spectrum to include state of the art piling and construction equipment like Piling Rings(Driven and Bored), Boring Equipments, batching Plants, Concrete Mixers, Heavy Generator Sets, Construction Lifts, Shuttering, Scaffolding material and many more. Simplex Projects has technical collaboration with International construction giants for advance technique and research facilities in engineering. It also has technical rights to develop various kinds of fully Automatic mechanical Car Parking Systems.
CONTACT DETAILS
Raghwesh Singh, Mutual PR, +91 9810019989, rsingh@mutualpr.com
Vikas Mahajan, Mutual PR, +91 9953619912, vikas@mutualpr.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CONSTRUCTION, Financial Analyst, REAL ESTATE, STOCK EXCHANGES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Simplex Projects Ltd
Friday, January 30, 2009 05:55 PM IST (12:25 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Construction, Financial Analyst, Real estate, Stock exchanges; Technology
Release no: 19103
--------------------------------------------------
Simplex Projects Posts Impressive Results for Q3/ Nine Months, FY 2008-09
New Delhi, Delhi, India, Friday, January 30, 2009 -- (Business Wire India) -- Simplex Projects Limited, a leading Civil Engineering & Construction Company, today announced its results for 3rd Quarter & 9 months ended December 31, 2008.
Financial Highlights - Third Quarter:
-- Total Income for Q3 FY 2008-09 at Rs.75.43 crores as against Rs. 58.69 crores reported in the Q3 FY 2007-08, is higher by 28.52%. Total Income for nine months FY 2008-09 at Rs. 207.87 crores, higher by 28.15%.
-- The Earnings Before Interest, Depreciation & Tax (EBIDTA) for Q3 FY 2008 - 09 increased by 16.55% to Rs. 8.47 Crores from Rs. 7.27 Crores while for the nine month ending 31st December, increased by 14.05% to Rs. 23.41 Crores, from Rs. 20.52 Crores last year.
-- The Profit after Tax (PAT) has decreased by 6.21% in Q3 to Rs. 4.91 Crores from Rs. 5.24 Crores reported in the quarter ended December 2007. For the nine months period it stood at Rs. 14.05 Crores registering an increase of 2.64%.
-- EPS for the quarter ended December 2008 is at Rs. 4.09 while for the 9 months ended December 2008 it is Rs. 11.71.
-- Awarded a Rs. 2000 crores contract for development of a Housing project in Libya from Govt. of Libya as public works contract.
-- Awarded a Rs.75 Crores contract for renovation of Talkatora Indoor Stadium from NDMC.
Commenting on the performance for the period ended December 2008, Mr. B. K. Mundra, CMD, Simplex Projects Limited, said, "This has been a landmark quarter where in we have set up our global footprint by venturing in to developing Rs2000 Crores integrated township project in Libya. We are fully geared-up for to face the challenges and would aggressively be pursuing the opportunities across the country and overseas."
During the quarter, SIMPLEX Projects has been awarded a contract for development of a housing project in Libya. The project is valued at Rs. 2000 Crores was awarded to Simplex Projects from Govt. of Libya as public works contract. The project includes construction of public building, schools, health centers, mosque, community hall and shopping complex.
Company has also has been awarded a contract from NDMC (New Delhi Municipal Corporation) to carry out major renovation and improvement work of Talkatora Indoor stadium, which will host the boxing events during the Common Wealth Games 2010. The contract valued at Rs. 75 Crores. Besides this, Simplex Projects is also executing another stadium project valued at Rs. 160 Crores, which includes a double basement car parking facility to accommodate more than 500 cars. The completion date for this project is November 2009.
The company's focus area of business includes residential buildings; industrial structures; hospitals; universities and educational campuses, transportation engineering like roads, bridges, flyovers & underpasses; irrigation and water supply projects; sewerage projects; commercial and and multi-level car parking.
Simplex Projects' clientele includes some of the major public sectors organizations like NBCC Ltd. BHEL, SBI, Konkan Railway, CPWD, Eastern Railway and major private sector organizations like L & T, DLF, Indian Hotels, Unitech, Godrej, Bengal Ambuja, Wipro, TISCO, Siemens Ltd.
Some of the ongoing civil and structural projects include construction of roads, flyovers and bridges in Patna and New Delhi; building projects for NBCC and New Delhi Municipal Corporation, Sports complex at Gangtok, Sikkim; design and construction of water treatment plant for PWD, Government of Manipur; and major piling and structural work for Delhi Metro, Marriot Hotel Kolkata; foundation work for WBIDC housing complex.
Simplex Projects has recently executed some major turnkey projects like construction of 4 road bridge at Patna; construction of 4 lane over-bridge at Taratala, Kolkata; construction of bridge at Shaktigarh and Palsit; construction of 14 story building for Bengal Ambuja Cement at Kolkata; civil and construction work for a 36 MW power project at Imphal, Manipur; civil and construction work at Bihar Caustic & Chemicals ltd. plant at Garhwa Road.
About Simplex
Simplex Projects Ltd. is primarily engaged in infrastructure construction and has a strong presence in the North and Eastern India. Incorporated in 1990 as a Public Limited Company, Simplex Projects started commercial operations in 1993. In a decade of its working the company has emerged as a major civil engineering and construction company. It's plant and Equipment resources encompass a very vide spectrum to include state of the art piling and construction equipment like Piling Rings(Driven and Bored), Boring Equipments, batching Plants, Concrete Mixers, Heavy Generator Sets, Construction Lifts, Shuttering, Scaffolding material and many more. Simplex Projects has technical collaboration with International construction giants for advance technique and research facilities in engineering. It also has technical rights to develop various kinds of fully Automatic mechanical Car Parking Systems.
CONTACT DETAILS
Raghwesh Singh, Mutual PR, +91 9810019989, rsingh@mutualpr.com
Vikas Mahajan, Mutual PR, +91 9953619912, vikas@mutualpr.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CONSTRUCTION, Financial Analyst, REAL ESTATE, STOCK EXCHANGES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Kajaria Ceramics Limited - Summary of Financial Performance for Q3 / 9 Months, FY 2008-2009
Press release from Business Wire India
Source: Kajaria Ceramics Ltd
Friday, January 30, 2009 05:09 PM IST (11:39 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Construction, Financial Analyst, Real estate, Stock exchanges
Release no: 19102
--------------------------------------------------
Kajaria Ceramics Limited - Summary of Financial Performance for Q3 / 9 Months, FY 2008-2009
New Delhi, Delhi, India, Friday, January 30, 2009 -- (Business Wire India) -- Kajaria Ceramics Limited (KCL), India's leading ceramic tile manufacturer in India, announced its results for Q3 FY2009/Nine Months FY2009.
Results overview 3rd Quarter/ 9 Months Year Ended December 2008 Vs December 2007:
Total Income from operations increased 20% to Rs.163.16 crores from Rs.136.27 crores reported in the corresponding quarter. For the 9 Months ended it increased by 38% to Rs.501.73 crores from Rs.363.94 crores reported in the corresponding 9 months period.
EBIDTA for the quarter grew to Rs.23.58 crores from Rs.21.79 crores showing a growth of 8%. The EBITDA for the 9 months period ended December 2008 has increased to Rs 67.70 crores from Rs. 63.17 crores with a growth of 7%.
The Net Profit after tax in the present quarter were at Rs. 0.19 crore as against Rs. 3.12 crores in the corresponding previous quarter. The Net Profit after tax during current 9 months period stood at Rs. 8.33 crore as against Rs. 10.36 crore in the corresponding period of previous year.
The decline in net profit in the current quarter has arisen because of increase in Interest cost due to sudden rise in cost of overseas refinance credit and the foreign currency rate fluctuation with regard to import business. Going forward the company expects decline in the interest cost because of falling inflation and improved liquidity situation in the country and stablised overseas credit cost.
Commenting on the performance for the period ended December 2008, Mr. Ashok Kajaria, Chairman, Kajaria Ceramics Limited, said: "We are gearing up to address the challenges thrown up by the continually evolving environment. We are in the process of consolidating our businesses across all the segments. We expect the initiatives taken by us would lead us to establish ourselves as much stronger and vibrant company, addressing the needs of its stakeholders across the categories."
About Kajaria Ceramics Limited:
Kajaria Ceramics is the largest manufacturer of ceramics tiles in India. It has an annual capacity of 21 mn. Sq. mtr. distributed across two plants - Sikandrabad in Uttar Pradesh and Gailpur in Rajasthan. The company has received the ISO 9001 (for quality management), ISO 14001 (environment management), OHSAS 18001 (for safety and health management) and SA-8000 (for commitment to society) certifications across its plant.
CONTACT DETAILS
Vikas Mahajan, Mutual PR, +91 9953619912, vikas@mutualpr.com
Amit Arora, Mutual PR, +91 9811154140, amit@mutualpr.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CONSTRUCTION, Financial Analyst, REAL ESTATE, STOCK EXCHANGES
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Kajaria Ceramics Ltd
Friday, January 30, 2009 05:09 PM IST (11:39 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Construction, Financial Analyst, Real estate, Stock exchanges
Release no: 19102
--------------------------------------------------
Kajaria Ceramics Limited - Summary of Financial Performance for Q3 / 9 Months, FY 2008-2009
New Delhi, Delhi, India, Friday, January 30, 2009 -- (Business Wire India) -- Kajaria Ceramics Limited (KCL), India's leading ceramic tile manufacturer in India, announced its results for Q3 FY2009/Nine Months FY2009.
Results overview 3rd Quarter/ 9 Months Year Ended December 2008 Vs December 2007:
Total Income from operations increased 20% to Rs.163.16 crores from Rs.136.27 crores reported in the corresponding quarter. For the 9 Months ended it increased by 38% to Rs.501.73 crores from Rs.363.94 crores reported in the corresponding 9 months period.
EBIDTA for the quarter grew to Rs.23.58 crores from Rs.21.79 crores showing a growth of 8%. The EBITDA for the 9 months period ended December 2008 has increased to Rs 67.70 crores from Rs. 63.17 crores with a growth of 7%.
The Net Profit after tax in the present quarter were at Rs. 0.19 crore as against Rs. 3.12 crores in the corresponding previous quarter. The Net Profit after tax during current 9 months period stood at Rs. 8.33 crore as against Rs. 10.36 crore in the corresponding period of previous year.
The decline in net profit in the current quarter has arisen because of increase in Interest cost due to sudden rise in cost of overseas refinance credit and the foreign currency rate fluctuation with regard to import business. Going forward the company expects decline in the interest cost because of falling inflation and improved liquidity situation in the country and stablised overseas credit cost.
Commenting on the performance for the period ended December 2008, Mr. Ashok Kajaria, Chairman, Kajaria Ceramics Limited, said: "We are gearing up to address the challenges thrown up by the continually evolving environment. We are in the process of consolidating our businesses across all the segments. We expect the initiatives taken by us would lead us to establish ourselves as much stronger and vibrant company, addressing the needs of its stakeholders across the categories."
About Kajaria Ceramics Limited:
Kajaria Ceramics is the largest manufacturer of ceramics tiles in India. It has an annual capacity of 21 mn. Sq. mtr. distributed across two plants - Sikandrabad in Uttar Pradesh and Gailpur in Rajasthan. The company has received the ISO 9001 (for quality management), ISO 14001 (environment management), OHSAS 18001 (for safety and health management) and SA-8000 (for commitment to society) certifications across its plant.
CONTACT DETAILS
Vikas Mahajan, Mutual PR, +91 9953619912, vikas@mutualpr.com
Amit Arora, Mutual PR, +91 9811154140, amit@mutualpr.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CONSTRUCTION, Financial Analyst, REAL ESTATE, STOCK EXCHANGES
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: SRF’s Q3 PAT Improves by 9% to Rs.37 crore
Press release from Business Wire India
Source: SRF Limited
Friday, January 30, 2009 04:30 PM IST (11:00 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Chemicals, Financial Analyst, Stock exchanges, Textiles; Technology
Release no: 19100
--------------------------------------------------
SRF's Q3 PAT Improves by 9% to Rs.37 crore
Q3 FY 09 EBIDTA at Rs. 114 crore, 20% growth; 9M FY 09 EBIDTA at Rs. 381 crore, 29% growth; 9M FY 09 Revenue at Rs. 1402 crore, 14% Improvement; SRF Board Approves Rs. 57 crore Laminated Fabric Project
Gurgaon, Haryana, India, Friday, January 30, 2009 -- (Business Wire India) -- SRF Limited, the domestic market leader in technical textiles and refrigerant gases and a preferred supplier of other fluorochemical products and polyester films, posted a net profit after tax (PAT) of Rs. 37 crore during Q3 of 2008-09, an increase of around 9% over Rs. 34 crore recorded during the corresponding period last year (CPLY). The company's revenue during the period also improved marginally to Rs. 419 crore as against Rs. 412 crore recorded CPLY. SRF's results were taken on record by the Board of Directors today.
The company's PAT for the nine months of the current financial year also improved by around 3% to Rs. 142 crore as against Rs.138 crore recorded during Apr-Dec 2007. The revenue increased by 14% at Rs. 1,402 crore from Rs. 1230 crore during CPLY.
SRF's EBIDTA for Q3 FY 09 improved by Rs. 19 crore to Rs. 114 crore, a growth of 20% over CPLY. For nine months the EBIDTA improved by Rs. 87 crore to Rs. 381 crore registering a growth of 29% over April-Dec'07.
SRF's financial results also included the impact of Rs. 10.73 crore for the period October-December 2008 and Rs. 56 crore for the period April-December 2008 on account of reinstatement of foreign currency loans and Mark to Market of foreign currency hedge contracts. Besides, the operations of the polymerisation and spinning lines in the plant at Manali Industrial Area, Manali in the State of Tamil Nadu remained suspended during the quarter due to power shortage and to avoid unnecessary inventory build up.
Reflecting on the results, Mr. Ashish Bharat Ram, Managing Director, SRF Limited, said, "In spite of an extremely challenging economic environment, the company managed to post marginally higher numbers compared to the last year. Our Packaging Films Business and Chemical Business performed in a resolute manner under trying circumstances. The Technical Textiles Business (TTB) unfortunately was worst affected by the downturn since it had to bear the additional impact of higher imports during this period. While we expect things to remain challenging, the focus will be on the revival of our Technical Textiles Business."
The board also approved a proposal to set up a Laminated Fabric Project for expansion of TTB's coated fabrics business at a total cost of Rs. 57 crore. The installation of the new facility having a capacity of 480 Lakh sqm will be coming up in the company's existing packaging film plant at Kashipur. With this SRF will complement its coated fabrics product portfolio with laminated fabrics used largely for applications such as flex banners, signages etc. The decision to invest in the laminated fabric project has been taken as a part of the company's plan to grow in the space of coated fabrics through alternate technologies. This also aims at derisking the company's Technical Textiles Business (TTB) by reducing its dependence on tyre cord fabrics.
About SRF
Established in 1973, SRF as a group has today grown into a global entity with operations in 4 countries. Apart from Technical Textiles Business, in which it enjoys a global leadership position, SRF is a domestic leader in Refrigerants, Engineering Plastics and Industrial Yarns as well. The company also enjoys a significant presence among the key domestic manufacturers of Polyester Films and Fluorospecialities. Building on its in-house R&D facilities for Technical Textiles Business and Chemicals Business, the company strives to stay ahead in business through innovations in operations and product development. A winner of the prestigious Deming Application Prize for its tyre cord business, SRF continues to redefine its work and corporate culture with the TQM as its management way.
To view the tables, please click on the links given below:
Unaudited Financial Results for the Quarter Ended 31st December 2008
Segment Wise Revenue, Results and Capital Employed Under Clause 41 of the Listing Agreement for the Quarter Ended 31st December 2008
Notes to Unaudited Financial Results for the Quarter Ended 31st December 2008
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/PFP- December_2008.pdf
PFP- December_2008.pdf
http://www.BusinessWireIndia.com/attachments/Segment December 2008.pdf
Segment December 2008.pdf
http://www.BusinessWireIndia.com/attachments/Notes 2008.pdf
Notes 2008.pdf
CONTACT DETAILS
Mukund Trivedy, Head of Corporate Communications, SRF Limited, +91 9871709177, mukund.trivedy@srf.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CHEMICALS, Financial Analyst, STOCK EXCHANGES, TEXTILES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: SRF Limited
Friday, January 30, 2009 04:30 PM IST (11:00 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Chemicals, Financial Analyst, Stock exchanges, Textiles; Technology
Release no: 19100
--------------------------------------------------
SRF's Q3 PAT Improves by 9% to Rs.37 crore
Q3 FY 09 EBIDTA at Rs. 114 crore, 20% growth; 9M FY 09 EBIDTA at Rs. 381 crore, 29% growth; 9M FY 09 Revenue at Rs. 1402 crore, 14% Improvement; SRF Board Approves Rs. 57 crore Laminated Fabric Project
Gurgaon, Haryana, India, Friday, January 30, 2009 -- (Business Wire India) -- SRF Limited, the domestic market leader in technical textiles and refrigerant gases and a preferred supplier of other fluorochemical products and polyester films, posted a net profit after tax (PAT) of Rs. 37 crore during Q3 of 2008-09, an increase of around 9% over Rs. 34 crore recorded during the corresponding period last year (CPLY). The company's revenue during the period also improved marginally to Rs. 419 crore as against Rs. 412 crore recorded CPLY. SRF's results were taken on record by the Board of Directors today.
The company's PAT for the nine months of the current financial year also improved by around 3% to Rs. 142 crore as against Rs.138 crore recorded during Apr-Dec 2007. The revenue increased by 14% at Rs. 1,402 crore from Rs. 1230 crore during CPLY.
SRF's EBIDTA for Q3 FY 09 improved by Rs. 19 crore to Rs. 114 crore, a growth of 20% over CPLY. For nine months the EBIDTA improved by Rs. 87 crore to Rs. 381 crore registering a growth of 29% over April-Dec'07.
SRF's financial results also included the impact of Rs. 10.73 crore for the period October-December 2008 and Rs. 56 crore for the period April-December 2008 on account of reinstatement of foreign currency loans and Mark to Market of foreign currency hedge contracts. Besides, the operations of the polymerisation and spinning lines in the plant at Manali Industrial Area, Manali in the State of Tamil Nadu remained suspended during the quarter due to power shortage and to avoid unnecessary inventory build up.
Reflecting on the results, Mr. Ashish Bharat Ram, Managing Director, SRF Limited, said, "In spite of an extremely challenging economic environment, the company managed to post marginally higher numbers compared to the last year. Our Packaging Films Business and Chemical Business performed in a resolute manner under trying circumstances. The Technical Textiles Business (TTB) unfortunately was worst affected by the downturn since it had to bear the additional impact of higher imports during this period. While we expect things to remain challenging, the focus will be on the revival of our Technical Textiles Business."
The board also approved a proposal to set up a Laminated Fabric Project for expansion of TTB's coated fabrics business at a total cost of Rs. 57 crore. The installation of the new facility having a capacity of 480 Lakh sqm will be coming up in the company's existing packaging film plant at Kashipur. With this SRF will complement its coated fabrics product portfolio with laminated fabrics used largely for applications such as flex banners, signages etc. The decision to invest in the laminated fabric project has been taken as a part of the company's plan to grow in the space of coated fabrics through alternate technologies. This also aims at derisking the company's Technical Textiles Business (TTB) by reducing its dependence on tyre cord fabrics.
About SRF
Established in 1973, SRF as a group has today grown into a global entity with operations in 4 countries. Apart from Technical Textiles Business, in which it enjoys a global leadership position, SRF is a domestic leader in Refrigerants, Engineering Plastics and Industrial Yarns as well. The company also enjoys a significant presence among the key domestic manufacturers of Polyester Films and Fluorospecialities. Building on its in-house R&D facilities for Technical Textiles Business and Chemicals Business, the company strives to stay ahead in business through innovations in operations and product development. A winner of the prestigious Deming Application Prize for its tyre cord business, SRF continues to redefine its work and corporate culture with the TQM as its management way.
To view the tables, please click on the links given below:
Unaudited Financial Results for the Quarter Ended 31st December 2008
Segment Wise Revenue, Results and Capital Employed Under Clause 41 of the Listing Agreement for the Quarter Ended 31st December 2008
Notes to Unaudited Financial Results for the Quarter Ended 31st December 2008
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/PFP- December_2008.pdf
PFP- December_2008.pdf
http://www.BusinessWireIndia.com/attachments/Segment December 2008.pdf
Segment December 2008.pdf
http://www.BusinessWireIndia.com/attachments/Notes 2008.pdf
Notes 2008.pdf
CONTACT DETAILS
Mukund Trivedy, Head of Corporate Communications, SRF Limited, +91 9871709177, mukund.trivedy@srf.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CHEMICALS, Financial Analyst, STOCK EXCHANGES, TEXTILES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Hindalco Industries Limited Q3 FY 2008-2009 Results
Press release from Business Wire India
Source: Hindalco Industries Limited
Friday, January 30, 2009 04:24 PM IST (10:54 AM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Commodities & materials, Financial Analyst, Heavy industries, Mining companies, Stock exchanges
Release no: 19101
--------------------------------------------------
Hindalco Industries Limited Q3 FY 2008-2009 Results
Hindalco Posts Outstanding Results in a Turbulent Economic Environment.
Mumbai, Maharashtra, India, Friday, January 30, 2009 -- (Business Wire India) --
-- PBIT at Rs.768.6 crores - maintained.
-- Net Profit at Rs.544.8 crores - marginally higher.
-- Drastic drop in LME - Aluminium (25%) and Copper (46%).
-- Net Sales and Revenues at Rs.4,117 crores.
Hindalco Industries Ltd., the flagship company of the Aditya Birla Group, today announced its unaudited financial results for the quarter ended 31, December 2008.
Net sales and revenues at Rs. 4117 crores in 3rd Quarter of FY 09 are lower as compared to Rs. 4,539 crores for the corresponding period in FY 08. The steep reduction in Aluminium and Copper LME led to fall in the overall sales revenue; this was mitigated by the rupee depreciation against the USD. Despite lower sales realizations and higher export sales due to lower domestic demand, the net profit at Rs. 545 crores is marginally higher than Rs. 543 crores in the corresponding year's comparable quarter. Higher metal production consequent to the Hirakud brownfield expansion, profit improvement measures and higher other Income have been the drivers.
The revenue in aluminium business rose by 14% to Rs. 1980 crores vis-à-vis Rs. 1,736 crores in the corresponding period in the previous year on the back of the highest ever metal volumes. However the unprecedented 25% fall in LME and spiraling input cost squeezed the margin, despite gains from weaker rupee. The shrinkage in domestic demand for downstream products resulted in an adverse product mix.
In the copper business, revenues stood at Rs.2139 crores lower by 24 % vis-à-vis Rs. 2806 crores in Q3FY08 as a result of the 46% lower LME. The profit before interest and tax rose by 23% to Rs. 116 crores from Rs. 94 crores in the corresponding quarter last year despite a 33% fall in TcRc, mainly due to better by-product realization, operational efficiencies and forex translation impact.
Startegic initiatives
A joint venture company viz. Hydromine Global Minerals GMBH Limited has been incorporated in British Virgin Island for the purpose of development and operation of one or more bauxite mines in the Minim Martap and Ngaoundal regions of the Adamaoua Province of the republic of Cameroon (Africa).Hindalco and Dubai Aluminium holds 45% equity each and the balance 10% is with by Hydomine USA.
Operational Review
Aluminium
With the expansion at Muri and Hirakud, Alumina production has risen by 48% at Muri and Metal production by 37% at Hirakud. Overall metal production was up by 11%. Demand shrinkage in domestic and global markets led to lower production of downstream products.
Copper
On the back of bi-annual shutdown in smelter-III, output declined. Copper cathodes production fell by 7%, while the CC rod production increased by 15.3% over the corresponding quarter in FY08.
The operations at copper smelter -II continue to be suspended.
Expansion projects
Muri
The expansion of the Muri alumina refinery from 110,000 tpa to 450,000 tpa is mechanically complete. Production is being ramped up in a phased manner. The entire steam and power requirement is being met by the new captive power plant. The production from the expanded facility is expected to reach its full capacity in second half of 2009.
Hirakud Phase II of the expansion of the smelting capacity from 100,000 tpa to 143,000 tpa was completed on time. Work on expansion to 155 ktpa is in progress and is expected to be completed by Aug- 09. The power generation capacity has been raised from 267.5 mw to 367.5 mw. All the units have been commissioned.
Belgaum The allotment of the lease for bauxite mines for expanding the alumina refinery capacity at Belgaum, Karnataka from 350 ktpa to 650 ktpa is still awaited.
Aditya Aluminium Project Aditya Aluminium, the integrated aluminium project, encompassing 1 to 1.5 million tpa alumina refinery, 260,000 to 359,000 tpa aluminium smelter and 750 to 900 mw captive power plant is progressing as planned. A major portion of the total land required for the project has been acquired. Environmental clearances have been obtained for the smelter, the captive power plant (CPP) and the alumina refinery. The water drawl agreement has also been executed. The construction power is already in place. The construction of transmission lines and upgradation of substations to draw power is in progress. The first metal from the smelter is proposed to be produced by October 2011. The refinery is proposed to be mechanically completed by January 2013. The technology contracts for the smelter and alumina have been executed with Aluminium Pechiney and Alcan respectively. Consultants have been appointed for detailed engineering for the smelter and CPP. Major proprietary equipments have been ordered for the smelter.
Mahan project The Mahan aluminium project with a smelter capacity of 359 ktpa and CPP of 900 mw is on track. The land acquisition for the project is underway. The company has been allotted a coal block in a JV with the Essar group for the coal requirement of the CPP. Preliminary environmental clearances have been obtained. The power connectivity for commencing construction has been approved. The water resource department has allocated the necessary water source. The production of coal is expected to start in 2010. The technology contract for the smelter has already been executed with Aluminium Pechiney. The first metal from the smelter is expected by July 2011. Basic engineering packages have been received on schedule. Detailed engineering activities for the smelter and CPP are in progress. Major proprietary equipments ordered for smelter.
Jharkhand project The proposed smelter capacity of the Jharkhand aluminium project is 359 ktpa and a CPP of 900 mw. The plant location has been shifted from Latehar to Sonahatu block which is 20 kilometers from Muri and 55 kilometers from Ranchi. Land has already been earmarked. Topographic and socioeconomic surveys are underway. The government of Jharkhand has given the water allocation clearance for 55 mcm of water from Subernrekha basin. Tubed coal mine has been allotted jointly with Tata Power. The technology contract for the smelter has already been executed with Aluminium Pechiney.CSR activities are being ramped up. The approximate date for the first metal from the smelter is expected by June 2012.
Utkal The construction of Utkal alumina refinery with a proposed capacity of 1.5 mtpa is currently underway. The company has acquired the land for the plant and other facilities. The basic engineering packages have already been received from Alcan (technology supplier). Major packages have been ordered & the balance is being ordered. The detailed engineering for the main plant area is nearing completion. The civil work for alumina refinery and captive power plant is in progress. Bauxite mining activities are expected to start by mid 2010. The mechanical completion of the plant is expected by January 2011 and the first alumina is expected to be produced around July 2011.
Hindalco Almex Aerospace Limited
This joint venture company for the manufacture of high-strength Aluminium alloys for applications in the aerospace, sporting goods and surface transport industries has been commissioned in Nov.-08 and production has started.
Industry outlook
Aluminium
China, USA and Europe led the global de-growth of 9%, in Q3FY09 as compared to Q3FY08, in Aluminium Consumption. The demand in these countries is expected to decline further in Q4FY09.
The Transport sector remained the largest consumer for Aluminium products in 2008. With the downturn expected in Transport, Building and Construction sectors , producers have announced production cutbacks upto 5.05 million tons per annum.
Despite announced cutbacks LME stocks continue to climb further impacting Aluminium prices, which is yet to spot the bottom.
Copper
Weak demand and increase in exchange stocks have pulled down copper prices. Mine production would be adversely affected due to the likely closure of a few high costs mines, delay in upcoming projects and slow down in investment in new mines.
Increased availability of copper concentrate due to lower capacity utilization at Smelters has led to a hike in benchmark TCRC for 2009 by 66% as compared to the previous year. Current spot market is above benchmark TCRC. However, disposal of Sulphuric Acid, a byproduct, remains a key concern for smelters.
Global refined copper consumption during 2008 grew by about 0.6%. The forecast is that the demand would either remain flat or decline during 2009 until the economic environment improves. Over all concentrate market is expected to be steady or slightly surplus during CY - 09.
Company outlook
The business continues to be impacted by the overall slow down in the global economy and the unprecedented fall in commodity prices. The short-term outlook seems negative. However the long term market fundamentals remain strong.
The company has been taking proactive measures in areas of input cost management, efficiencies and other possible areas to tide over and emerge stronger from the global crisis. The ramp up of brownfield expansions, enhanced asset productivity and containment of input cost along with effective working capital management to maximise free cash flow continues to be the major growth drivers.
Please click the links mentioned below to view the entire Press Release, Third Quarter Financial Results and Third Quarter Result Notes:
Press Release
Third Quarter Financial Results
Third Quarter Result Notes
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Third_ Quarter_Press_Release.doc
Third_ Quarter_Press_Release.doc
http://www.BusinessWireIndia.com/attachments/Third_ Quarter_Results_31.12.2008.xls
Third_ Quarter_Results_31.12.2008.xls
http://www.BusinessWireIndia.com/attachments/Third_ Quarter_Results_Notes.doc
Third_ Quarter_Results_Notes.doc
CONTACT DETAILS
Dr. (Mrs.) Pragnya Ram, Hindalco Industries Limited, +91 (022) 66525160/ +91 (022) 66525000, pragnya.ram@adityabirla.com
KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, BANKING, COMMODITIES, Financial Analyst, HEAVY INDUSTRIES, MINING, STOCK EXCHANGES, 500440.BO, HALCq.L, HALC.F
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Hindalco Industries Limited
Friday, January 30, 2009 04:24 PM IST (10:54 AM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Commodities & materials, Financial Analyst, Heavy industries, Mining companies, Stock exchanges
Release no: 19101
--------------------------------------------------
Hindalco Industries Limited Q3 FY 2008-2009 Results
Hindalco Posts Outstanding Results in a Turbulent Economic Environment.
Mumbai, Maharashtra, India, Friday, January 30, 2009 -- (Business Wire India) --
-- PBIT at Rs.768.6 crores - maintained.
-- Net Profit at Rs.544.8 crores - marginally higher.
-- Drastic drop in LME - Aluminium (25%) and Copper (46%).
-- Net Sales and Revenues at Rs.4,117 crores.
Hindalco Industries Ltd., the flagship company of the Aditya Birla Group, today announced its unaudited financial results for the quarter ended 31, December 2008.
Net sales and revenues at Rs. 4117 crores in 3rd Quarter of FY 09 are lower as compared to Rs. 4,539 crores for the corresponding period in FY 08. The steep reduction in Aluminium and Copper LME led to fall in the overall sales revenue; this was mitigated by the rupee depreciation against the USD. Despite lower sales realizations and higher export sales due to lower domestic demand, the net profit at Rs. 545 crores is marginally higher than Rs. 543 crores in the corresponding year's comparable quarter. Higher metal production consequent to the Hirakud brownfield expansion, profit improvement measures and higher other Income have been the drivers.
The revenue in aluminium business rose by 14% to Rs. 1980 crores vis-à-vis Rs. 1,736 crores in the corresponding period in the previous year on the back of the highest ever metal volumes. However the unprecedented 25% fall in LME and spiraling input cost squeezed the margin, despite gains from weaker rupee. The shrinkage in domestic demand for downstream products resulted in an adverse product mix.
In the copper business, revenues stood at Rs.2139 crores lower by 24 % vis-à-vis Rs. 2806 crores in Q3FY08 as a result of the 46% lower LME. The profit before interest and tax rose by 23% to Rs. 116 crores from Rs. 94 crores in the corresponding quarter last year despite a 33% fall in TcRc, mainly due to better by-product realization, operational efficiencies and forex translation impact.
Startegic initiatives
A joint venture company viz. Hydromine Global Minerals GMBH Limited has been incorporated in British Virgin Island for the purpose of development and operation of one or more bauxite mines in the Minim Martap and Ngaoundal regions of the Adamaoua Province of the republic of Cameroon (Africa).Hindalco and Dubai Aluminium holds 45% equity each and the balance 10% is with by Hydomine USA.
Operational Review
Aluminium
With the expansion at Muri and Hirakud, Alumina production has risen by 48% at Muri and Metal production by 37% at Hirakud. Overall metal production was up by 11%. Demand shrinkage in domestic and global markets led to lower production of downstream products.
Copper
On the back of bi-annual shutdown in smelter-III, output declined. Copper cathodes production fell by 7%, while the CC rod production increased by 15.3% over the corresponding quarter in FY08.
The operations at copper smelter -II continue to be suspended.
Expansion projects
Muri
The expansion of the Muri alumina refinery from 110,000 tpa to 450,000 tpa is mechanically complete. Production is being ramped up in a phased manner. The entire steam and power requirement is being met by the new captive power plant. The production from the expanded facility is expected to reach its full capacity in second half of 2009.
Hirakud Phase II of the expansion of the smelting capacity from 100,000 tpa to 143,000 tpa was completed on time. Work on expansion to 155 ktpa is in progress and is expected to be completed by Aug- 09. The power generation capacity has been raised from 267.5 mw to 367.5 mw. All the units have been commissioned.
Belgaum The allotment of the lease for bauxite mines for expanding the alumina refinery capacity at Belgaum, Karnataka from 350 ktpa to 650 ktpa is still awaited.
Aditya Aluminium Project Aditya Aluminium, the integrated aluminium project, encompassing 1 to 1.5 million tpa alumina refinery, 260,000 to 359,000 tpa aluminium smelter and 750 to 900 mw captive power plant is progressing as planned. A major portion of the total land required for the project has been acquired. Environmental clearances have been obtained for the smelter, the captive power plant (CPP) and the alumina refinery. The water drawl agreement has also been executed. The construction power is already in place. The construction of transmission lines and upgradation of substations to draw power is in progress. The first metal from the smelter is proposed to be produced by October 2011. The refinery is proposed to be mechanically completed by January 2013. The technology contracts for the smelter and alumina have been executed with Aluminium Pechiney and Alcan respectively. Consultants have been appointed for detailed engineering for the smelter and CPP. Major proprietary equipments have been ordered for the smelter.
Mahan project The Mahan aluminium project with a smelter capacity of 359 ktpa and CPP of 900 mw is on track. The land acquisition for the project is underway. The company has been allotted a coal block in a JV with the Essar group for the coal requirement of the CPP. Preliminary environmental clearances have been obtained. The power connectivity for commencing construction has been approved. The water resource department has allocated the necessary water source. The production of coal is expected to start in 2010. The technology contract for the smelter has already been executed with Aluminium Pechiney. The first metal from the smelter is expected by July 2011. Basic engineering packages have been received on schedule. Detailed engineering activities for the smelter and CPP are in progress. Major proprietary equipments ordered for smelter.
Jharkhand project The proposed smelter capacity of the Jharkhand aluminium project is 359 ktpa and a CPP of 900 mw. The plant location has been shifted from Latehar to Sonahatu block which is 20 kilometers from Muri and 55 kilometers from Ranchi. Land has already been earmarked. Topographic and socioeconomic surveys are underway. The government of Jharkhand has given the water allocation clearance for 55 mcm of water from Subernrekha basin. Tubed coal mine has been allotted jointly with Tata Power. The technology contract for the smelter has already been executed with Aluminium Pechiney.CSR activities are being ramped up. The approximate date for the first metal from the smelter is expected by June 2012.
Utkal The construction of Utkal alumina refinery with a proposed capacity of 1.5 mtpa is currently underway. The company has acquired the land for the plant and other facilities. The basic engineering packages have already been received from Alcan (technology supplier). Major packages have been ordered & the balance is being ordered. The detailed engineering for the main plant area is nearing completion. The civil work for alumina refinery and captive power plant is in progress. Bauxite mining activities are expected to start by mid 2010. The mechanical completion of the plant is expected by January 2011 and the first alumina is expected to be produced around July 2011.
Hindalco Almex Aerospace Limited
This joint venture company for the manufacture of high-strength Aluminium alloys for applications in the aerospace, sporting goods and surface transport industries has been commissioned in Nov.-08 and production has started.
Industry outlook
Aluminium
China, USA and Europe led the global de-growth of 9%, in Q3FY09 as compared to Q3FY08, in Aluminium Consumption. The demand in these countries is expected to decline further in Q4FY09.
The Transport sector remained the largest consumer for Aluminium products in 2008. With the downturn expected in Transport, Building and Construction sectors , producers have announced production cutbacks upto 5.05 million tons per annum.
Despite announced cutbacks LME stocks continue to climb further impacting Aluminium prices, which is yet to spot the bottom.
Copper
Weak demand and increase in exchange stocks have pulled down copper prices. Mine production would be adversely affected due to the likely closure of a few high costs mines, delay in upcoming projects and slow down in investment in new mines.
Increased availability of copper concentrate due to lower capacity utilization at Smelters has led to a hike in benchmark TCRC for 2009 by 66% as compared to the previous year. Current spot market is above benchmark TCRC. However, disposal of Sulphuric Acid, a byproduct, remains a key concern for smelters.
Global refined copper consumption during 2008 grew by about 0.6%. The forecast is that the demand would either remain flat or decline during 2009 until the economic environment improves. Over all concentrate market is expected to be steady or slightly surplus during CY - 09.
Company outlook
The business continues to be impacted by the overall slow down in the global economy and the unprecedented fall in commodity prices. The short-term outlook seems negative. However the long term market fundamentals remain strong.
The company has been taking proactive measures in areas of input cost management, efficiencies and other possible areas to tide over and emerge stronger from the global crisis. The ramp up of brownfield expansions, enhanced asset productivity and containment of input cost along with effective working capital management to maximise free cash flow continues to be the major growth drivers.
Please click the links mentioned below to view the entire Press Release, Third Quarter Financial Results and Third Quarter Result Notes:
Press Release
Third Quarter Financial Results
Third Quarter Result Notes
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Third_ Quarter_Press_Release.doc
Third_ Quarter_Press_Release.doc
http://www.BusinessWireIndia.com/attachments/Third_ Quarter_Results_31.12.2008.xls
Third_ Quarter_Results_31.12.2008.xls
http://www.BusinessWireIndia.com/attachments/Third_ Quarter_Results_Notes.doc
Third_ Quarter_Results_Notes.doc
CONTACT DETAILS
Dr. (Mrs.) Pragnya Ram, Hindalco Industries Limited, +91 (022) 66525160/ +91 (022) 66525000, pragnya.ram@adityabirla.com
KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, BANKING, COMMODITIES, Financial Analyst, HEAVY INDUSTRIES, MINING, STOCK EXCHANGES, 500440.BO, HALCq.L, HALC.F
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Sequence Named as one of Top 5 EDA Companies
Press release from Business Wire India
Source: Sequence Design
Friday, January 30, 2009 02:36 PM IST (09:06 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment; Technology
Release no: 19099
--------------------------------------------------
Sequence Named as one of Top 5 EDA Companies
SiliconIndia Says Sequence Low-Power Tools Represent "Paradigm Shift" in Industry
Santa Clara, California, United States, Friday, January 30, 2009 -- (Business Wire India) -- SiliconIndia has named Sequence Design one of its Top 5 EDA Vendors for 2009 in a feature article recognizing companies founded or managed by Indians in the U.S. that appears in the magazine's latest issue: www.siliconindia.com/si100_2008/top5eda.html.
The companies selected for inclusion represent those with the technology and management savvy necessary to successfully weather the perilous economic times ahead. According to SiliconIndia: "Sequence's leadership in low-power design tools and its particular expertise in RTL power management and power-grid integrity makes it an ideal choice to be selected for the Top 5."
The latest accolade comes on the heels of Sequence winning a spot on EDN's coveted Hot 100 Products of 2008 list, and being named a finalist for the International Engineering Consortium's 2009 DesignVision Award, both honoring the company's revolutionary PowerArtist low-power design tool.
"It is an honor to be included on this list of highly regarded EDA companies," said Vic Kulkarni, Sequence President and CEO. "As I have said before, these accolades result from the hard work, dedication, and brilliance of everyone on the Sequence team, and on behalf of all of us, I enthusiastically thank the editors of SiliconIndia for including the company in its 'Top 5'."
SiliconIndia (www.siliconindia.com) is one of the largest content and community networks for Indian professionals, entrepreneurs and students worldwide.
About Sequence
Sequence Design - featured in EDN's Hot 100 Products for 2008 and SiliconIndia's Top 5 EDA Companies managed by CEOs of Indian Origin in 2009 - provides Design For Power (DFPT) solutions that accelerate the ability of SoC designers to bring high-performance, power-aware ICs to market. Sequence's power and signal-integrity software give customers the competitive advantage necessary to excel in aggressive technology markets. Sequence is an active participant in industry organizations advancing low-power design technologies such as the Power Forward Initiative and holds a seat on the board of Si2. For more information: sequencedesign.com.
CONTACT DETAILS
Jim Lochmiller, Sequence Public Relations, (707) 205-7681, lochpr@yahoo.com
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Sequence Design
Friday, January 30, 2009 02:36 PM IST (09:06 AM GMT)
Editors: General: Consumer interest; Business: Advertising, PR & marketing, Business services, Information technology, Media & entertainment; Technology
Release no: 19099
--------------------------------------------------
Sequence Named as one of Top 5 EDA Companies
SiliconIndia Says Sequence Low-Power Tools Represent "Paradigm Shift" in Industry
Santa Clara, California, United States, Friday, January 30, 2009 -- (Business Wire India) -- SiliconIndia has named Sequence Design one of its Top 5 EDA Vendors for 2009 in a feature article recognizing companies founded or managed by Indians in the U.S. that appears in the magazine's latest issue: www.siliconindia.com/si100_2008/top5eda.html.
The companies selected for inclusion represent those with the technology and management savvy necessary to successfully weather the perilous economic times ahead. According to SiliconIndia: "Sequence's leadership in low-power design tools and its particular expertise in RTL power management and power-grid integrity makes it an ideal choice to be selected for the Top 5."
The latest accolade comes on the heels of Sequence winning a spot on EDN's coveted Hot 100 Products of 2008 list, and being named a finalist for the International Engineering Consortium's 2009 DesignVision Award, both honoring the company's revolutionary PowerArtist low-power design tool.
"It is an honor to be included on this list of highly regarded EDA companies," said Vic Kulkarni, Sequence President and CEO. "As I have said before, these accolades result from the hard work, dedication, and brilliance of everyone on the Sequence team, and on behalf of all of us, I enthusiastically thank the editors of SiliconIndia for including the company in its 'Top 5'."
SiliconIndia (www.siliconindia.com) is one of the largest content and community networks for Indian professionals, entrepreneurs and students worldwide.
About Sequence
Sequence Design - featured in EDN's Hot 100 Products for 2008 and SiliconIndia's Top 5 EDA Companies managed by CEOs of Indian Origin in 2009 - provides Design For Power (DFPT) solutions that accelerate the ability of SoC designers to bring high-performance, power-aware ICs to market. Sequence's power and signal-integrity software give customers the competitive advantage necessary to excel in aggressive technology markets. Sequence is an active participant in industry organizations advancing low-power design technologies such as the Power Forward Initiative and holds a seat on the board of Si2. For more information: sequencedesign.com.
CONTACT DETAILS
Jim Lochmiller, Sequence Public Relations, (707) 205-7681, lochpr@yahoo.com
KEYWORDS
CONSUMER, MARKETING, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
BWI: Egypt to Strengthen Ties with India at NASSCOM’s Leadership Forum 2009
Press release from Business Wire India
Source: Information Technology Industry Development Agency (ITIDA)
Friday, January 30, 2009 01:20 PM IST (07:50 AM GMT)
Editors: Business: Business services, Information technology, Telecommunications; Technology
Release no: 19097
--------------------------------------------------
Egypt to Strengthen Ties with India at NASSCOM's Leadership Forum 2009
Mumbai, Maharashtra, India, Friday, January 30, 2009 -- (Business Wire India) -- Egypt, one of the world's fastest growing locations for global outsourcing, will be showcasing its ICT industry at NASSCOM's India Leadership Forum in Mumbai from February 11-13, 2009. The Forum has long been India's premier global meeting for the IT-BPO industry and this year sees Egypt's Information Technology Development Agency (ITIDA) as a platinum sponsor.
Egypt will be strongly represented through its own country session and will have a delegation of both multinational and local Egyptian outsourcing companies, including Xceed, Vodafone, Teleperformance and Raya, on-hand to demonstrate Egypt's strong position as a global service delivery location and a leading partner of India's outsourcing industry.
Mr. Amin Khaireldin, Strategic Advisor and Board Member of ITIDA, along with other delegates from ITIDA, will be speaking at the NASSCOM Leadership Forum on the emerging importance of Egypt in the global outsourcing market.
Commenting on the benefits of Egypt as a global service delivery location, Mr. Amin Khaireldin said, "Egypt is well placed to be the next location for geographical expansion for Indian outsourcing companies and we are proud to be associated with NASSCOM. Egypt's competitive advantages position the country as a strategic location for global ITES/BPO and as an ideal gateway especially to Middle Eastern and European continental markets, which remain largely untapped."
Currently Indian direct investment in Egypt totals $800m in more than 200 Egyptian companies and with its relatively large and burgeoning talent pool of IT professionals, the Egyptian outsourcing sector has received strong support from its government to develop the industry further. It is projected that the Egyptian outsourcing sector will generate revenue of more than $1 billion by 2010, four times the 2005 revenue.
Last year, ITIDA signed a number of Memorandum of Understandings and Letter of Intents with Indian bodies and companies including NASSCOM and three of India's top five IT/BPO companies to extend the collaboration between Egypt and India.
Egypt has been making huge strides in the world of outsourcing and according to Yankee Group¹ "Egypt is by far the Middle Eastern country currently best positioned to take advantage of the boom in outsourcing. It has a relatively young population, a multilingual workforce, a large and burgeoning talent pool and strong government support for outsourcing."
Egypt was also named the Offshoring Destination of the Year (2008) by the UK's National Outsourcing Association (NOA) and was recently listed in Gartner's Top 30 global outsourcing destinations.
About ITIDA:
The Information Technology Industry Development Agency (ITIDA) is a governmental entity affiliated to Egypt's Ministry of Communications and Information Technology. It is responsible for growing and developing Egypt's position as a leading global outsourcing location by attracting foreign direct investment to the industry and maximizing the exports of IT services and applications.
Located in the heart of the modern business environment at Smart Village, the six hundred acre business park on the outskirts of Cairo, ITIDA is a self sustainable entity that drives the IT industry in Egypt and raises awareness among the Egyptian people of the benefits and use of ICT to advance socio-economic welfare of the whole community.
¹Yankee Group, "Can Middle Eastern countries fulfill the 'Eastern' promise?" published in July 2008
CONTACT DETAILS
Ahmed Reda, Media & Communication Manager, Information Technology Industry Development Agency (ITIDA), + 202 534 51 85, areda@itida.gov.eg
Deepa Jayaraman, IPAN Public Relations, Mumbai, +91 (022) 40661755, deepa.jayaraman@ipan.com
Ajith Henry, IPAN Public Relations, Mumbai, +91 (022) 22661755, Ajith.henry@ipan.com
KEYWORDS
BUSINESS SERVICES, IT, TELECOMMUNICATIONS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Source: Information Technology Industry Development Agency (ITIDA)
Friday, January 30, 2009 01:20 PM IST (07:50 AM GMT)
Editors: Business: Business services, Information technology, Telecommunications; Technology
Release no: 19097
--------------------------------------------------
Egypt to Strengthen Ties with India at NASSCOM's Leadership Forum 2009
Mumbai, Maharashtra, India, Friday, January 30, 2009 -- (Business Wire India) -- Egypt, one of the world's fastest growing locations for global outsourcing, will be showcasing its ICT industry at NASSCOM's India Leadership Forum in Mumbai from February 11-13, 2009. The Forum has long been India's premier global meeting for the IT-BPO industry and this year sees Egypt's Information Technology Development Agency (ITIDA) as a platinum sponsor.
Egypt will be strongly represented through its own country session and will have a delegation of both multinational and local Egyptian outsourcing companies, including Xceed, Vodafone, Teleperformance and Raya, on-hand to demonstrate Egypt's strong position as a global service delivery location and a leading partner of India's outsourcing industry.
Mr. Amin Khaireldin, Strategic Advisor and Board Member of ITIDA, along with other delegates from ITIDA, will be speaking at the NASSCOM Leadership Forum on the emerging importance of Egypt in the global outsourcing market.
Commenting on the benefits of Egypt as a global service delivery location, Mr. Amin Khaireldin said, "Egypt is well placed to be the next location for geographical expansion for Indian outsourcing companies and we are proud to be associated with NASSCOM. Egypt's competitive advantages position the country as a strategic location for global ITES/BPO and as an ideal gateway especially to Middle Eastern and European continental markets, which remain largely untapped."
Currently Indian direct investment in Egypt totals $800m in more than 200 Egyptian companies and with its relatively large and burgeoning talent pool of IT professionals, the Egyptian outsourcing sector has received strong support from its government to develop the industry further. It is projected that the Egyptian outsourcing sector will generate revenue of more than $1 billion by 2010, four times the 2005 revenue.
Last year, ITIDA signed a number of Memorandum of Understandings and Letter of Intents with Indian bodies and companies including NASSCOM and three of India's top five IT/BPO companies to extend the collaboration between Egypt and India.
Egypt has been making huge strides in the world of outsourcing and according to Yankee Group¹ "Egypt is by far the Middle Eastern country currently best positioned to take advantage of the boom in outsourcing. It has a relatively young population, a multilingual workforce, a large and burgeoning talent pool and strong government support for outsourcing."
Egypt was also named the Offshoring Destination of the Year (2008) by the UK's National Outsourcing Association (NOA) and was recently listed in Gartner's Top 30 global outsourcing destinations.
About ITIDA:
The Information Technology Industry Development Agency (ITIDA) is a governmental entity affiliated to Egypt's Ministry of Communications and Information Technology. It is responsible for growing and developing Egypt's position as a leading global outsourcing location by attracting foreign direct investment to the industry and maximizing the exports of IT services and applications.
Located in the heart of the modern business environment at Smart Village, the six hundred acre business park on the outskirts of Cairo, ITIDA is a self sustainable entity that drives the IT industry in Egypt and raises awareness among the Egyptian people of the benefits and use of ICT to advance socio-economic welfare of the whole community.
¹Yankee Group, "Can Middle Eastern countries fulfill the 'Eastern' promise?" published in July 2008
CONTACT DETAILS
Ahmed Reda, Media & Communication Manager, Information Technology Industry Development Agency (ITIDA), + 202 534 51 85, areda@itida.gov.eg
Deepa Jayaraman, IPAN Public Relations, Mumbai, +91 (022) 40661755, deepa.jayaraman@ipan.com
Ajith Henry, IPAN Public Relations, Mumbai, +91 (022) 22661755, Ajith.henry@ipan.com
KEYWORDS
BUSINESS SERVICES, IT, TELECOMMUNICATIONS, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Thursday, January 29, 2009
BWI: Monster Worldwide Reports Fourth Quarter and Full Year 2008 Results
Press release from Business Wire India
Source: Business Wire
Friday, January 30, 2009 10:15 AM IST (04:45 AM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 19096
--------------------------------------------------
(BW)(NY-MONSTER-WORLDWIDE)(MWW)Monster Worldwide Reports Fourth Quarter and Full Year 2008 Results
New York, United States, Friday, January 30, 2009 -- (Business Wire India) --
CONTACT DETAILS
CONTACTS :
Investors:
Monster Worldwide, Inc.
Robert Jones, 212-351-7032
Robert.Jones@monsterworldwide.com
or
Media:
Steve Sylven, 978-461-8503
Steve.Sylven@monster.com
KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
http://www.businesswire.com
Submit your press release at http://www.businesswireindia.com
Source: Business Wire
Friday, January 30, 2009 10:15 AM IST (04:45 AM GMT)
Editors: General: Consumer interest, Economy; Business: Accounting & management consultancy services, Banking & financial services, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
Release no: 19096
--------------------------------------------------
(BW)(NY-MONSTER-WORLDWIDE)(MWW)Monster Worldwide Reports Fourth Quarter and Full Year 2008 Results
New York, United States, Friday, January 30, 2009 -- (Business Wire India) --
Monster Worldwide, Inc. (NYSE:MWW) reported financial results for the fourth quarter and full year ended December 31, 2008.
- Diluted Earnings Per Share from Continuing Operations of $0.24 on Total Revenue of $291 Million
- Non-GAAP Diluted Earnings Per Share from Continuing Operations of $0.27, Excluding $0.03 Loss from ChinaHR
- Operating Expenses at $248 Million; Non-GAAP Operating Expenses, Excluding ChinaHR, Decline to $235 Million
- Net Cash and Securities of $259 Million, Reflecting Acquisition of ChinaHR and Payment to Settle Stock Option Litigation
- Complete Re-Design of Sites Provides Industry Leading Capabilities for Seekers and Employers
Fourth Quarter Results
GAAP
Total revenue was $291 million, a 16% decline, compared with $348 million in the comparable quarter of 2007, as the weakening global economy significantly impacted hiring demand. Monster generated 44% of its revenue outside the United States and total revenue was negatively impacted by $19 million from unfavorable foreign exchange rates.
Consolidated operating expenses were $248 million, and income from continuing operations was $29 million, or $0.24 per diluted share, compared to $46 million, or $0.36 per diluted share, in the comparable 2007 period. Foreign exchange rates negatively impacted consolidated operating income by approximately $6 million, or $0.03 per diluted share.
PRO FORMA ADJUSTMENTS
Income from continuing operations for the three months ended December 31, 2008 includes pre-tax pro forma adjustments that include: $3.2 million of expenses associated with the Company's restructuring plan; $3.3 million of legal fees, primarily related to the Company's obligation to indemnify former officers for their defense in connection with the ongoing litigation related to historical stock option grant practices; and a $2.2 million reduction to total revenue due to the purchase accounting for ChinaHR. Offsetting these adjustments were $10.0 million of reimbursements from former Company officers related to the stock option settlement announced on July 31, 2008. As a result, the Company recorded a pre-tax pro forma benefit to income of $1.3 million. These pro forma adjustments are described in the "Notes Regarding the Use of Non-GAAP Financial Measures" and are reconciled to the GAAP measure in the accompanying tables.
CHINAHR
On October 8, 2008, Monster completed the acquisition of ChinaHR, which is consolidated in the Company's quarterly financial results, and is included as a component of the Careers - International operating segment. Monster has recorded a $2.2 million purchase accounting adjustment to reduce revenue, which is reflected as a pro forma adjustment in reconciling the Company's non-GAAP results. For the fourth quarter of 2008, ChinaHR generated $11.1 million of non-GAAP revenue and posted an after-tax loss of $3.7 million, or a $0.03 loss per diluted share.
SEGMENTS
Careers non-GAAP revenue declined 18% to $260 million compared with last year's fourth quarter. Careers - International non-GAAP revenue was $125 million, a 13% decline over the prior year period, or an 8% decline excluding currency and the contribution from ChinaHR. Careers - North America revenue was $135 million, compared with $174 million in the prior year period. Internet Advertising & Fees revenue grew 6% to $33 million over last year's fourth quarter.
NON-GAAP
Excluding the pro forma adjustments and the financial results of ChinaHR, the Company generated revenue of $282 million and $235 million of operating expenses, representing the lowest quarterly expense level since the fourth quarter of 2006. In last year's fourth quarter, revenue was $348 million and operating expenses were $272 million. Income from continuing operations was $32 million, or $0.27 per diluted share, compared to $53 million, or $0.42 per diluted share, in the prior year.
LIQUIDITY & BALANCE SHEET
Monster ended 2008 with total available liquidity of $512 million. As of year-end, the Company had cash and marketable securities of $314 million and $198 million available to borrow under its credit facilities, providing significant financial liquidity.
During the quarter, the Company paid approximately $36 million, which was previously accrued, to settle certain litigation related to historical stock option practices. Prior to this one-time payment, the Company generated $21 million from operating activities, compared to $64 million generated in the prior year period.
During the fourth quarter Monster deployed its capital in a number of strategic areas. In October 2008, the Company purchased the remaining 55% interest in ChinaHR for $174 million. The Company also had net repayments of $193 million under its existing credit facilities. Capital expenditures were $22 million, reflecting the Company's strategic investments in technology and infrastructure. Approximately $90 million of auction rate securities are classified as a long-term asset on the consolidated balance sheet, and are included in the cash and securities balance as of December 31, 2008. As a result, the Company ended the quarter with net cash and securities of $259 million, after accounting for $55 million of total debt.
The Company did not repurchase shares during the fourth quarter under its stock repurchase program. Monster Worldwide's deferred revenue balance at December 31, 2008 was $414 million, reflecting global economic weakness, compared with last year's fourth quarter balance of $524 million, and $412 million reported for the third quarter of 2008.
Sal Iannuzzi, chairman, president and chief executive officer of Monster Worldwide, said, "During the quarter we operated in a sharply deepening economic recession that significantly impacted demand worldwide for online recruitment services. As the quarter progressed, we took swift and decisive action to reduce operating expenses without compromising our strategic investments."
In commenting on the new seeker experience, Mr. Iannuzzi said, "We are extremely proud that we successfully delivered on our commitment to provide industry leading products to our global customers and millions of job seekers. On January 10, 2009, we unveiled a new seeker experience across 24 countries, an unprecedented feat in our industry. Seekers are now experiencing a personal, relevant and engaging site that provides valuable tools to help them find the right job and manage their career goals."
GAAP Full Year Results
Monster Worldwide reported total revenue of $1.34 billion for the year ended December 31, 2008, a 1% increase compared to $1.32 billion in the comparable period last year. Careers revenue was $1.21 billion compared with $1.20 billion in the 2007 period. Internet Advertising & Fees reported revenue of $130 million, a slight increase over the prior year period. The Company reported income from continuing operations of $114 million, or $0.94 per diluted share, compared to $150 million or $1.15 per diluted share in the prior year period.
Mr. Iannuzzi concluded, "The quarter continued a year of many accomplishments as we made significant strides towards the transformation to the 'new' Monster. In addition to our successful product launch on January 10th, we rebuilt our technology platform, expanded our sales coverage and extended our global presence in key international markets. These achievements were all accomplished while we significantly reduced our cost base in an extremely challenging operating environment. We are fortunate to enter 2009 with a strong net cash position and a solid, liquid balance sheet to support our business plan and growth initiatives. We are carefully monitoring our customers' needs and are in an excellent position to take appropriate action in response to the evolving global economy. Our strong fundamentals, now augmented by these new products, position us well to gain market share during an economic recovery."
Supplemental Financial Information
The Company has made available certain supplemental financial information, in a separate document that can be accessed directly at http://corporate.monster.com/Q408.pdf or through the Company's Investor Relations website at http://ir.monster.com.
Conference Call Information
Fourth quarter 2008 results will be discussed on Monster Worldwide's quarterly conference call taking place on January 29, 2009 at 5:00 PM EST. To join the conference call, please dial (888) 551-5973 at 4:50 PM EST and reference conference ID# 81751364. For those outside the United States, please dial (706) 643-3467 and reference the same conference ID#. The call will begin promptly at 5:00 PM EST. Individuals can also access Monster Worldwide's quarterly conference call online through the Investor Relations section of the Company's website at http://ir.monster.com. For a replay of the call, please dial (800) 642-1687 or outside the United States dial (706) 645-9291 and reference ID #81751364. This number is valid until midnight on February 5, 2009.
About Monster Worldwide
Monster Worldwide, Inc. (NYSE: MWW), parent company of Monster(R), the premier global online employment solution for more than a decade, strives to inspire people to improve their lives. With a local presence in key markets in North America, Europe, Asia and Latin America, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 index. To learn more about Monster's industry-leading products and services, visit www.monster.com.
Notes Regarding the Use of Non-GAAP Financial Measures
The Company has provided certain non-GAAP financial information as additional information for its operating results. These measures are not in accordance with, or an alternative for, generally accepted accounting principles ("GAAP") and may be different from non-GAAP measures reported by other companies. The Company believes that its presentation of non-GAAP measures provides useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations.
Non-GAAP revenue, operating expenses, operating income, operating margin, income from continuing operations and diluted earnings per share all exclude certain pro forma adjustments including: costs associated with the Company's historical stock option grant practices, related litigation and potential fines or settlements; severance costs for former executive officers incurred in the second quarter of 2007; costs related to the measures taken by the Company in response to a security breach in August 2007; the strategic restructuring actions initiated in the third quarter of 2007; and the fair value adjustment to deferred revenue in connection with the acquisition of ChinaHR. Additionally, the Company is presenting its non-GAAP consolidated results, both inclusive and exclusive of the fourth quarter ChinaHR results (utilizing a 25% effective tax rate, which is the statutory rate in China). The Company uses these non-GAAP measures for reviewing the ongoing results of the Company's core business operations and in certain instances, for measuring performance under certain of the Company's incentive compensation plans. These non-GAAP measures may not be comparable to similarly titled measures reported by other companies.
Operating income before depreciation and amortization ("OIBDA") is defined as income from operations before depreciation, amortization of intangible assets, amortization of stock based compensation and non-cash costs incurred in connection with the Company's restructuring program. The Company considers OIBDA to be an important indicator of its operational strength. This measure eliminates the effects of depreciation, amortization of intangible assets, amortization of stock based compensation and non-cash restructuring costs from period to period, which the Company believes is useful to management and investors in evaluating its operating performance. OIBDA is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies.
Free cash flow is defined as cash flow from operating activities less capital expenditures. Free cash flow is considered a liquidity measure and provides useful information about the Company's ability to generate cash after investments in property and equipment. Free cash flow reflected herein is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies. Free cash flow does not reflect the total change in the Company's cash position for the period and should not be considered a substitute for such a measure.
Net cash and securities is defined as cash and cash equivalents plus short-term and long-term marketable securities, less total debt. The Company considers net cash and securities to be an important measure of liquidity and an indicator of its ability to meet its ongoing obligations. The Company also uses net cash and securities, among other measures, in evaluating its choices for capital deployment. Net cash and securities presented herein is a non-GAAP measure and may not be comparable to similarly titled measures used by other companies.
Special Note: Except for historical information contained herein, the statements made in this release, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding the Company's strategic direction, prospects and future results. Certain factors, including factors outside of our control, may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which we operate, risks associated with acquisitions or dispositions, competition, ongoing costs associated with the Company's historical stock option grant practices, costs associated with the restructuring and security breach, and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated in this release by reference.
| MONSTER WORLDWIDE, INC. | ||||||||
| UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (in thousands, except per share amounts) | ||||||||
| Three Months Ended December 31, | Year Ended December 31, | |||||||
| 2008 | 2007 | 2008 | 2007 | |||||
| Revenue | $ | 290,672 | $ | 347,847 | $ | 1,343,627 | $ | 1,323,804 |
| Salaries and related | 130,435 | 131,394 | 543,268 | 524,653 | ||||
| Office and general | 61,608 | 68,754 | 282,699 | 268,843 | ||||
| Marketing and promotion | 52,684 | 76,818 | 291,198 | 294,479 | ||||
| Provision for legal settlements, net | - | - | 40,100 | - | ||||
| Restructuring and other special charges | 3,156 | 5,442 | 16,407 | 16,597 | ||||
| Total operating expenses | 247,883 | 282,408 | 1,173,672 | 1,104,572 | ||||
| Operating income | 42,789 | 65,439 | 169,955 | 219,232 | ||||
| Interest and other, net | 1,560 | 6,799 | 17,283 | 25,622 | ||||
| Income from continuing operations before income taxes and equity interests | 44,349 | 72,238 | 187,238 | 244,854 | ||||
| Income taxes | 14,880 | 25,310 | 64,910 | 86,461 | ||||
| Loss in equity interests, net | (339) | (838) | (7,839) | (8,298) | ||||
| Income from continuing operations | 29,130 | 46,090 | 114,489 | 150,095 | ||||
| Income (loss) from discontinued operations, net of tax | (536) | (1,090) | 10,304 | (3,696) | ||||
| Net income | $ | 28,594 | $ | 45,000 | $ | 124,793 | $ | 146,399 |
| Basic earnings per share: | ||||||||
| Income from continuing operations | $ | 0.25 | $ | 0.37 | $ | 0.95 | $ | 1.17 |
| Income (loss) from discontinued operations, net of tax | - | (0.01) | 0.09 | (0.03) | ||||
| Basic earnings per share* | $ | 0.24 | $ | 0.36 | $ | 1.04 | $ | 1.14 |
| Diluted earnings per share: | ||||||||
| Income from continuing operations | $ | 0.24 | $ | 0.36 | $ | 0.94 | $ | 1.15 |
| Income (loss) from discontinued operations, net of tax | - | (0.01) | 0.09 | (0.03) | ||||
| Diluted earnings per share* | $ | 0.24 | $ | 0.36 | $ | 1.03 | $ | 1.12 |
| *Earnings per share may not add in certain periods due to rounding. | ||||||||
| Weighted average shares outstanding: | ||||||||
| Basic | 118,601 | 125,504 | 120,557 | 128,785 | ||||
| Diluted | 119,380 | 126,704 | 121,167 | 130,755 | ||||
| Operating income before depreciation and amortization: | ||||||||
| Operating income | $ | 42,789 | $ | 65,439 | $ | 169,955 | $ | 219,232 |
| Depreciation and amortization of intangibles | 17,517 | 12,046 | 58,020 | 43,908 | ||||
| Amortization of stock based compensation | 7,224 | 3,728 | 28,692 | 28,181 | ||||
| Restructuring non-cash expenses | 924 | 1,263 | 4,857 | 1,330 | ||||
| Operating income before depreciation and amortization | $ | 68,454 | $ | 82,476 | $ | 261,524 | $ | 292,651 |
| MONSTER WORLDWIDE, INC. | ||||||
| UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||
| (in thousands) | ||||||
| Year Ended December 31, | ||||||
| 2008 | 2007 | |||||
| Cash flows provided by operating activities: | ||||||
| Net income | $ | 124,793 | $ | 146,399 | ||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
| (Income) loss from discontinued operations, net of tax | (10,304) | 3,696 | ||||
| Depreciation and amortization of intangibles | 58,020 | 43,908 | ||||
| Provision for legal settlements, net | 40,100 | - | ||||
| Payments for legal settlements, net | (29,887) | - | ||||
| Provision for doubtful accounts | 16,231 | 12,906 | ||||
| Non-cash compensation | 29,853 | 28,181 | ||||
| Deferred income taxes | 7,430 | (5,459) | ||||
| Loss (gain) on disposal of assets | 238 | (571) | ||||
| Loss in equity interests and other | 11,534 | 8,298 | ||||
| Changes in assets and liabilities, net of business combinations: | ||||||
| Accounts receivable | 112,520 | (67,778) | ||||
| Prepaid and other | 23,168 | (24,977) | ||||
| Deferred revenue | (118,299) | 80,186 | ||||
| Accounts payable, accrued liabilities and other | (32,714) | 51,840 | ||||
| Net cash used for operating activities of discontinued operations | (6,849) | (7,450) | ||||
| Total adjustments | 101,041 | 122,780 | ||||
| Net cash provided by operating activities | 225,834 | 269,179 | ||||
| Cash flows (used for) provided by investing activities: | ||||||
| Capital expenditures | (93,627) | (63,800) | ||||
| Payments for acquisitions and intangible assets, net of cash acquired | (292,836) | (2,549) | ||||
| Purchase of marketable securities | (183,932) | (1,424,861) | ||||
| Sales and maturities of marketable securities | 539,286 | 1,514,051 | ||||
| Cash funded to equity investee | (6,402) | (10,000) | ||||
| Dividends received from equity investee | 1,011 | - | ||||
| Net cash used for investing activities of discontinued operations | - | (255) | ||||
| Net cash (used for) provided by investing activities | (36,500) | 12,586 | ||||
| Cash flows (used for) provided by financing activities: | ||||||
| Proceeds from borrowings on credit facilities short-term | 251,971 | - | ||||
| Payments for borrowings on credit facilities short-term | (197,893) | - | ||||
| Repurchase of common stock | (128,165) | (262,495) | ||||
| Proceeds from exercise of employee stock options | 1,461 | 54,890 | ||||
| Excess tax benefits from equity compensation plans | 1,003 | 13,799 | ||||
| Payments on debt obligations | (171) | (100) | ||||
| Payments on acquisition debt | - | (23,362) | ||||
| Net cash used for financing activities | (71,794) | (217,268) | ||||
| Effects of exchange rates on cash | (25,024) | 6,567 | ||||
| Net increase in cash and cash equivalents | 92,516 | 71,064 | ||||
| Cash and cash equivalents, beginning of period | 129,744 | 58,680 | ||||
| Cash and cash equivalents, end of period | $ | 222,260 | $ | 129,744 | ||
| Free cash flow: | ||||||
| Net cash provided by operating activities | $ | 225,834 | $ | 269,179 | ||
| Less: Capital expenditures | (93,627) | (63,800) | ||||
| Free cash flow | $ | 132,207 | $ | 205,379 | ||
| MONSTER WORLDWIDE, INC. | ||||||
| UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
| (in thousands) | ||||||
| Assets: | December 31, 2008 | December 31, 2007 | ||||
| Cash and cash equivalents | $ | 222,260 | $ | 129,744 | ||
| Available-for-sale securities, current | 1,425 | 448,703 | ||||
| Accounts receivable, net | 376,720 | 499,854 | ||||
| Available-for-sale securities, non - current | 90,347 | - | ||||
| Property and equipment, net | 161,282 | 123,397 | ||||
| Goodwill and intangibles, net | 946,881 | 650,685 | ||||
| Other assets | 117,675 | 210,696 | ||||
| Total assets of discontinued operations | - | 14,731 | ||||
| Total assets | $ | 1,916,590 | $ | 2,077,810 | ||
| Liabilities and Stockholders' equity: | ||||||
| Accounts payable, accrued expenses and other | $ | 254,407 | $ | 304,146 | ||
| Deferred revenue | 414,312 | 524,331 | ||||
| Borrowings on credit facilities short-term | 54,971 | - | ||||
| Non-current income taxes payable | 119,951 | 111,108 | ||||
| Other liabilities | 25,676 | 17,448 | ||||
| Total liabilities of discontinued operations | - | 4,276 | ||||
| Total liabilities | 869,317 | 961,309 | ||||
| Stockholders' equity | 1,047,273 | 1,116,501 | ||||
| Total liabilities and stockholders' equity | $ | 1,916,590 | $ | 2,077,810 | ||
| MONSTER WORLDWIDE, INC. | |||||||||||||||
| UNAUDITED OPERATING SEGMENT INFORMATION | |||||||||||||||
| (in thousands) | |||||||||||||||
| Three Months Ended December 31, 2008 | Careers - North America | Careers - International | Internet Advertising & Fees | Corporate Expenses | Total | ||||||||||
| Revenue | $ | 135,135 | $ | 122,796 | $ | 32,741 | $ | 290,672 | |||||||
| Operating income | 34,025 | 12,938 | 3,715 | $ | (7,889) | 42,789 | |||||||||
| OIBDA | 44,138 | 23,833 | 6,293 | (5,810) | 68,454 | ||||||||||
| Operating margin | 25.2% | 10.5% | 11.3% | 14.7% | |||||||||||
| OIBDA margin | 32.7% | 19.4% | 19.2% | 23.6% | |||||||||||
| Three Months Ended December 31, 2007 | Careers - North America | Careers - International | Internet Advertising & Fees | Corporate Expenses | Total | ||||||||||
| Revenue | $ | 173,577 | $ | 143,300 | $ | 30,970 | $ | 347,847 | |||||||
| Operating income | 52,950 | 24,753 | 1,383 | $ | (13,647) | 65,439 | |||||||||
| OIBDA | 60,410 | 29,980 | 3,118 | (11,032) | 82,476 | ||||||||||
| Operating margin | 30.5% | 17.3% | 4.5% | 18.8% | |||||||||||
| OIBDA margin | 34.8% | 20.9% | 10.1% | 23.7% | |||||||||||
| Year Ended December 31, 2008 | Careers - North America | Careers - International | Internet Advertising & Fees | Corporate Expenses | Total | ||||||||||
| Revenue | $ | 638,118 | $ | 575,182 | $ | 130,327 | $ | 1,343,627 | |||||||
| Operating income | 175,255 | 84,727 | 11,666 | $ | (101,693) | 169,955 | |||||||||
| OIBDA | 211,892 | 119,916 | 22,018 | (92,302) | 261,524 | ||||||||||
| Operating margin | 27.5% | 14.7% | 9.0% | 12.6% | |||||||||||
| OIBDA margin | 33.2% | 20.8% | 16.9% | 19.5% | |||||||||||
| Year Ended December 31, 2007 | Careers - North America | Careers - International | Internet Advertising & Fees | Corporate Expenses | Total | ||||||||||
| Revenue | $ | 707,384 | $ | 488,038 | $ | 128,382 | $ | 1,323,804 | |||||||
| Operating income | 224,862 | 52,113 | 16,611 | $ | (74,354) | 219,232 | |||||||||
| OIBDA | 249,994 | 72,832 | 23,342 | (53,517) | 292,651 | ||||||||||
| Operating margin | 31.8% | 10.7% | 12.9% | 16.6% | |||||||||||
| OIBDA margin | 35.3% | 14.9% | 18.2% | 22.1% | |||||||||||
| MONSTER WORLDWIDE, INC. | |||||||||||||||||||||||||
| UNAUDITED NON-GAAP STATEMENTS OF OPERATIONS AND RECONCILIATIONS | |||||||||||||||||||||||||
| (in thousands, except per share amounts) | |||||||||||||||||||||||||
| For the Three Months Ended December 31, 2008 | For the Three Months Ended December 31, 2007 | ||||||||||||||||||||||||
| As Reported | Proforma Adjustments | Consolidated Non-GAAP | ChinaHR Non-GAAP Proforma | Monster Proforma Non-GAAP | As Reported | Proforma Adjustments | Non-GAAP | ||||||||||||||||||
| Revenue | $ | 290,672 | 2,213 | a | $ | 292,885 | $ | 11,116 | $ | 281,769 | $ | 347,847 | - | $ | 347,847 | ||||||||||
| Salaries and related | 130,435 | - | 130,435 | 5,866 | 124,569 | 131,394 | - | 131,394 | |||||||||||||||||
| Office and general | 61,608 | 6,682 | b | 68,290 | 4,136 | 64,154 | 68,754 | (4,781) | b | 63,973 | |||||||||||||||
| Marketing and promotion | 52,684 | - | 52,684 | 5,989 | 46,695 | 76,818 | - | 76,818 | |||||||||||||||||
| Provision for legal settlements, net | - | - | - | - | - | - | - | - | |||||||||||||||||
| Restructuring and other special charges | 3,156 | (3,156) | d | - | - | - | 5,442 | (5,442) | d | - | |||||||||||||||
| Total operating expenses | 247,883 | 3,526 | 251,409 | 15,991 | 235,418 | 282,408 | (10,223) | 272,185 | |||||||||||||||||
| Operating income | 42,789 | (1,313) | 41,476 | (4,875) | 46,351 | 65,439 | 10,223 | 75,662 | |||||||||||||||||
| Operating margin | 14.7% | 14.2% | 16.4% | 18.8% | 21.8% | ||||||||||||||||||||
| Interest and other, net | 1,560 | - | 1,560 | (49) | 1,609 | 6,799 | - | 6,799 | |||||||||||||||||
| Income from continuing operations before income taxes and equity interests | 44,349 | (1,313) | 43,036 | (4,924) | 47,960 | 72,238 | 10,223 | 82,461 | |||||||||||||||||
| Income taxes | 14,880 | (441) | e | 14,439 | (1,231) | f | 15,670 | 25,310 | 3,582 | e | 28,892 | ||||||||||||||
| Losses in equity interests, net | (339) | - | (339) | - | (339) | (838) | - | (838) | |||||||||||||||||
| Income from continuing operations | $ | 29,130 | $ | (872) | $ | 28,258 | $ | (3,693) | $ | 31,951 | $ | 46,090 | $ | 6,641 | $ | 52,731 | |||||||||
| Diluted earnings per share from continuing operations * | $ | 0.24 | $ | (0.01) | $ | 0.24 | $ | (0.03) | $ | 0.27 | $ | 0.36 | $ | 0.05 | $ | 0.42 | |||||||||
| Weighted average shares outstanding: | |||||||||||||||||||||||||
| Diluted | 119,380 | 119,380 | 119,380 | 119,380 | 119,380 | 126,704 | 126,704 | 126,704 | |||||||||||||||||
| For the Year Ended December 31, 2008 | For the Year Ended December 31, 2007 | ||||||||||||||||||||||||
| As Reported | Proforma Adjustments | Consolidated Non-GAAP | ChinaHR Non-GAAP Proforma | Monster Proforma Non-GAAP | As Reported | Proforma Adjustments | Non-GAAP | ||||||||||||||||||
| Revenue | $ | 1,343,627 | 2,213 | a | $ | 1,345,840 | 11,116 | $ | 1,334,724 | $ | 1,323,804 | - | $ | 1,323,804 | |||||||||||
| Salaries and related | 543,268 | 93 | b | 543,361 | 5,866 | 537,495 | 524,653 | (15,777) | b | 508,876 | |||||||||||||||
| Office and general | 282,699 | (4,976) | b | 277,723 | 4,136 | 273,587 | 268,843 | (28,198) | b | 240,645 | |||||||||||||||
| Marketing and promotion | 291,198 | - | 291,198 | 5,989 | 285,209 | 294,479 | - | 294,479 | |||||||||||||||||
| Provision for legal settlements, net | 40,100 | (40,100) | c | - | - | - | - | - | - | ||||||||||||||||
| Restructuring and other special charges | 16,407 | (16,407) | d | - | - | - | 16,597 | (16,597) | d | - | |||||||||||||||
| Total operating expenses | 1,173,672 | (61,390) | 1,112,282 | 15,991 | 1,096,291 | 1,104,572 | (60,572) | 1,044,000 | |||||||||||||||||
| Operating income | 169,955 | 63,603 | 233,558 | (4,875) | 238,433 | 219,232 | 60,572 | 279,804 | |||||||||||||||||
| Operating margin | 12.6% | 17.4% | 17.9% | 16.6% | 21.1% | ||||||||||||||||||||
| Interest and other, net | 17,283 | - | 17,283 | (49) | 17,332 | 25,622 | - | 25,622 | |||||||||||||||||
| Income from continuing operations before income taxes and equity interests | 187,238 | 63,603 | 250,841 | (4,924) | 255,765 | 244,854 | 60,572 | 305,426 | |||||||||||||||||
| Income taxes | 64,910 | 22,049 | e | 86,959 | (1,231) | f | 88,190 | 86,461 | 21,389 | e | 107,850 | ||||||||||||||
| Losses in equity interests, net | (7,839) | - | (7,839) | - | (7,839) | (8,298) | - | (8,298) | |||||||||||||||||
| Income from continuing operations | $ | 114,489 | $ | 41,554 | $ | 156,043 | $ | (3,693) | $ | 159,736 | $ | 150,095 | $ | 39,183 | $ | 189,278 | |||||||||
| Diluted earnings per share from continuing operations * | $ | 0.94 | $ | 0.34 | $ | 1.29 | $ | (0.03) | $ | 1.32 | $ | 1.15 | $ | 0.30 | $ | 1.45 | |||||||||
| Weighted average shares outstanding: | |||||||||||||||||||||||||
| Diluted | 121,167 | 121,167 | 121,167 | 121,167 | 121,167 | 130,755 | 130,755 | 130,755 | |||||||||||||||||
| Note Regarding ProForma Adjustments: | |||||||||||||||||||||||||
| The financial information included herein contains certain non-GAAP financial measures. This information is not intended to be used in place of the financial information prepared and presented in accordance with GAAP, nor is it intended to be considered in isolation. We believe that the above presentation of non-GAAP measures provide useful information to management and investors regarding certain core operating and business trends relating to our results of operations, exclusive of certain restructuring related and other special charges. | |||||||||||||||||||||||||
| ProForma adjustments consist of the following: | |||||||||||||||||||||||||
| ChinaHR Non-GAAP adjustments are the current reported results for ChinaHR. The Monster Proforma Non-GAAP results are adjusted to exclude the ChinaHR results. | |||||||||||||||||||||||||
| a | Deferred revenue fair value adjustment required under existing purchase accounting rules relating to our acquisition of China HR. | ||||||||||||||||||||||||
| b | Costs associated with the ongoing investigation into the Company's historical stock option granting practices, net of reimbursements, and costs associated with the remediation of a security breach related to the Company's resume database in August 2007. | ||||||||||||||||||||||||
| c | Provision for costs associated with the proposed legal settlements related to the stock option litigation, net of recoveries. | ||||||||||||||||||||||||
| d | Restructuring related charges pertain to the strategic restructuring actions that the Company announced on July 30, 2007. These charges include costs related to the reduction in the Company's workforce, fixed asset write-offs, costs relating to the consolidation of certain office facilities, contract termination costs, relocation costs and professional fees. | ||||||||||||||||||||||||
| e | Income tax adjustment is calculated using the effective tax rate of the reported period multiplied by the ProForma adjustment to income from continuing operations before income taxes and equity interest. | ||||||||||||||||||||||||
| f | Income tax adjustment for ChinaHR is calculated using the statutory tax rate in China of 25%. | ||||||||||||||||||||||||
| *Diluted earnings per share may not add in certain periods due to rounding. | |||||||||||||||||||||||||
| MONSTER WORLDWIDE, INC. | |||||||||||||||
| UNAUDITED NON-GAAP OPERATING SEGMENT INFORMATION | |||||||||||||||
| (in thousands) | |||||||||||||||
| Three Months Ended December 31, 2008 | Careers - North America | Careers - International | Internet Advertising & Fees | Corporate Expenses | Total | ||||||||||
| Revenue - GAAP | $ | 135,135 | $ | 122,796 | $ | 32,741 | $ | 290,672 | |||||||
| Proforma Adjustments | - | 2,213 | - | 2,213 | |||||||||||
| Revenue - Non GAAP | $ | 135,135 | $ | 125,009 | $ | 32,741 | $ | 292,885 | |||||||
| Operating income - GAAP | $ | 34,025 | $ | 12,938 | $ | 3,715 | $ | (7,889) | $ | 42,789 | |||||
| Proforma Adjustments | 289 | 4,773 | 30 | (6,405) | (1,313) | ||||||||||
| Operating income - Non GAAP | $ | 34,314 | $ | 17,711 | $ | 3,745 | $ | (14,294) | $ | 41,476 | |||||
| Operating margin - GAAP | 25.2% | 10.5% | 11.3% | 14.7% | |||||||||||
| Operating margin - Non GAAP | 25.4% | 14.2% | 11.4% | 14.2% | |||||||||||
| Three Months Ended December 31, 2007 | Careers - North America | Careers - International | Internet Advertising & Fees | Corporate Expenses | Total | ||||||||||
| Revenue | $ | 173,577 | $ | 143,300 | $ | 30,970 | $ | 347,847 | |||||||
| Operating income - GAAP | $ | 52,950 | $ | 24,753 | $ | 1,383 | $ | (13,647) | $ | 65,439 | |||||
| Proforma Adjustments | 3,532 | 3,946 | 1,275 | 1,470 | 10,223 | ||||||||||
| Operating income - Non GAAP | $ | 56,482 | $ | 28,699 | $ | 2,658 | $ | (12,177) | $ | 75,662 | |||||
| Operating margin - GAAP | 30.5% | 17.3% | 4.5% | 18.8% | |||||||||||
| Operating margin - Non GAAP | 32.5% | 20.0% | 8.6% | 21.8% | |||||||||||
| Year Ended December 31, 2008 | Careers - North America | Careers - International | Internet Advertising & Fees | Corporate Expenses | Total | ||||||||||
| Revenue - GAAP | $ | 638,118 | $ | 575,182 | $ | 130,327 | $ | 1,343,627 | |||||||
| Proforma Adjustments | - | 2,213 | - | 2,213 | |||||||||||
| Revenue - Non GAAP | $ | 638,118 | $ | 577,395 | $ | 130,327 | $ | 1,345,840 | |||||||
| Operating income - GAAP | $ | 175,255 | $ | 84,727 | $ | 11,666 | $ | (101,693) | $ | 169,955 | |||||
| Proforma Adjustments | 5,119 | 11,712 | 1,441 | 45,331 | 63,603 | ||||||||||
| Operating income - Non GAAP | $ | 180,374 | $ | 96,439 | $ | 13,107 | $ | (56,362) | $ | 233,558 | |||||
| Operating margin - GAAP | 27.5% | 14.7% | 9.0% | 12.6% | |||||||||||
| Operating margin - Non GAAP | 28.3% | 16.7% | 10.1% | 17.4% | |||||||||||
| Year Ended December 31, 2007 | Careers - North America | Careers - International | Internet Advertising & Fees | Corporate Expenses | Total | ||||||||||
| Revenue | $ | 707,384 | $ | 488,038 | $ | 128,382 | $ | 1,323,804 | |||||||
| Operating income - GAAP | $ | 224,862 | $ | 52,113 | $ | 16,611 | $ | (74,354) | $ | 219,232 | |||||
| Operating income - Non GAAP | $ | 236,819 | $ | 62,304 | $ | 19,803 | $ | (39,122) | $ | 279,804 | |||||
| Operating margin - GAAP | 31.8% | 10.7% | 12.9% | 16.6% | |||||||||||
| Operating margin - Non GAAP | 33.5% | 12.8% | 15.4% | 21.1% | |||||||||||
CONTACT DETAILS
CONTACTS :
Investors:
Monster Worldwide, Inc.
Robert Jones, 212-351-7032
Robert.Jones@monsterworldwide.com
or
Media:
Steve Sylven, 978-461-8503
Steve.Sylven@monster.com
KEYWORDS
CONSUMER, ECONOMY, CONSULTANCY SERVICES, BANKING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
http://www.businesswire.com
Submit your press release at http://www.businesswireindia.com
Subscribe to:
Posts (Atom)