BWI: Cranes Software’s FY09 Consolidated Revenues Up 33% to Rs. 5,289 Million and PAT higher by 6% to Rs. 1,213.1 Million

Press release from Business Wire India
Source: Cranes Software International Ltd.
Wednesday, July 01, 2009 05:15 PM IST (11:45 AM GMT)
Editors: General: Consumer interest, Economy; Business: Business services, Financial Analyst, Information technology, Stock exchanges; Technology
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Cranes Software's FY09 Consolidated Revenues Up 33% to Rs. 5,289 Million and PAT higher by 6% to Rs. 1,213.1 Million
FY09 Diluted EPS at Rs. 9.36; Recommends Dividends of 10%; Shifting of Cranes Engineering and Cranes Technology Operations to 35,000 sq ft of Own Office Premises Expected to Result in Considerable Savings

Bangalore, Karnataka, India, Wednesday, July 01, 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 and year ended March 31, 2009.

Cranes Software Group's financial performance review:

Corresponding Yearly Comparison

FY09 (April - March 2009) v/s FY08 (April - March 2008)

-- Total revenues were up 32.7% to Rs. 5,289 million from Rs. 3,986 million

- Overseas revenues increased 41.0% to Rs. 4,509 million and constitute 88.6% of total revenues

- Domestic revenues at Rs. 579 million for the period under review

-- Operating profit improved by 17.9% to Rs. 2,402 million from Rs. 2,038 million. Operating margins for the year at 45.4%

-- Net profit after tax is up 5.5% to Rs. 1,213 million from Rs. 1,150 million. Accordingly, diluted EPS grew 5.8% from Rs. 8.85 to Rs. 9.36 for the period under review

Corresponding Quarterly Comparison

Q4 FY09 (January - March 2009) v/s Q4 FY08 (January - March 2008)

-- Total revenues higher by 50.0% to Rs. 1,765 million compared to Rs. 1,177 million in the previous corresponding quarter

- Overseas revenues increased by 61.3% to Rs. 1,475 million and constitutes 94.0% of total revenues

-- Operating profit was up 25.8% to Rs. 639 million from Rs. 508 million. Operating margins were at 36.2% for the quarter ended March 2009

-- Net profit after tax fell 11.5% to Rs. 281 million translating into diluted EPS of Rs. 2.15 for the quarter under review

Commenting on the financial results, Asif Khader, Managing Director, Cranes Software International Limited, said:

"For the year ended March 2009, Cranes Software has registered a growth of 33% in revenues (including inorganic) to Rs. 5,289 million while PAT grew by 6% to Rs. 1,213 million. This year also witnessed a historic and unprecedented global financial instability that has led many Companies, including ours, to realign the business offerings to suit the current challenging environment. We had to take strict measures in terms of cleaning the supply chain and curtailing costs to maintain efficiencies. 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. We believe this to be an interim phenomenon and have adopted effective strategies to counter these. During the year, we entered into alliances with several leading Companies and announced new product launches that will serve as a platform for our future growth initiatives. Going forward, we will continue to focus on consolidating operations to sustain long term growth and with increased emphasis on productivity of resources."

Other Highlights:

-- Cranes Software's premier graphing application, SigmaPlot 11 won the Scientific Computing Magazine's Reader's Choice Award 2008 in the 'Graphing' and 'Statistical Analysis' categories. The latest release of its kind by Systat Software, SigmaPlot is the most advanced scientific graphing and data analysis software available that allows its users to present their data using exact, publication-quality graphs

-- Cranes Software shifted its Engineering and Technology operations to own premises. This state of art campus built over 35,000 sq ft. has an exclusive parking area of 7,300 sq ft, a spacious cafeteria of 5,300 sq ft, and a full fledge communication center with sophisticated and innovative communication solutions that could enable speedy and cost effective communication to onsite employees and global customers.

-- Board recommends a dividend of 10%(Rs. 0.20/- per share)
Acquisitions & Alliances during the Year under review:

-- Cranes Software's subsidiary, Proland Software, a data security company, entered into a strategic partnership with VirusBuster, a Hungary-based security solutions provider. This alliance will enable Proland to provide a wider selection of data security solutions to its customers, and expand its presence from a predominantly home/single user base to the enterprise/office segments

-- Cranes' subsidiary, Systat Software entered into an agreement with Ohio based Rescentris, to globally offer their joint product, SigmaCERF - an Electronic Lab Notebook (ELN) and knowledge management platform for life science research organizations. While industry experts predict the market for ELN to be one of the fastest technology growth areas, this collaboration will also enable Cranes' SigmaPlot, SigmaStat and Systat customers to source tools that cater to different aspects of their research process from one single reliable source

-- Cranes entered into an alliance with Siemens PLM Software, a business unit of the Siemens Industry Automation Division and a leading global provider of product lifecycle management (PLM) software and services. This partnership will enable Cranes to distribute the full suite of PLM software solutions to its customer base in India, thereby strengthening its position further in the engineering simulations space

-- Cranes' subsidiary, Systat Software successfully acquired a German based business intelligence product Company, Cubeware. The acquisition will draw multi fold synergies in the real time business intelligence and performance management space for enterprise business applications

New Product Launches during the Year under review:

-- Released ETA/DYNAFORM Version 5.7 - With over 90 new and enhanced features, the latest launch of its powerful die analysis solution, ETA/DYNAFORM Version 5.7 will further address some of the long standing requirements of the Manufacturing and Automobile sectors

-- Launched NISA DesignStudio Version 16 - A Civil Engineering software, NISA DesignStudio is a cost-effective software solution for individual and upcoming structural engineers who predominantly analyze and design multistoried buildings, apartment complexes and industrial enclosures made of RCC & steel

-- Launched NISA Version 16 for Linux - With over 40 new features and a significant improvement over its predecessor, NISA Version 16 for Linux will give the Company deeper entrants into the Computer Aided Engineering (CAE) industry

-- Released ETA/VPG Version 3.4 with NISA Solver - A finite element modeling software, ETA/VPG Version 3.4 has over 63 new or improved functions and offers an integrated linear static and Eigen value modules from the general purpose FEA software suite NISA, which allows users to easily create and visualize advanced simulations within the ETA/VPG environment

About Cranes Software International Limited: www.cranessoftware.com

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, NISA/CIVIL, NISA DesignStudio, 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, Protector Plus, and world-renowned products from reputed principals such as Livermore Software Technology Corporation, The Mathworks, Texas Instruments, dSPACE, Mentor Graphics, IBM, Siemens, 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.

Certain statements in this release concerning our growth prospects are forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties, including government actions; local political or economic developments; technological risks; risks inherent in the Company's growth strategy; dependence on certain clients; dependence on availability of technical consultants and other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. The Company undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

Note to the announcement:

This press release discusses the audited 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), Esqube Communication Solutions Pvt. Ltd. and Cubeware GmbH.

To view the Audited results, please click on the link given below:

Audited Financial Results
For picture(s)/data to illustrate this release click below:

http://www.BusinessWireIndia.com/attachments/Audited Results - 1.pdf
Audited Results - 1.pdf


CONTACT DETAILS
Akila Lean, Cranes Software International Limited, +91 (80) 40789701, akila.lean@cranessoftware.com
Gavin Desa, Citigate Dewe Rogerson, +91 (22) 40075036, gavin@cdr-india.com
Aditya Bedi, Citigate Dewe Rogerson, +91 (22) 40075036, aditya@cdr-india.com

KEYWORDS
CONSUMER, ECONOMY, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, 512093.BO, CRANESSOFT.NS

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