Feb 3 - India's Cranes Q3 FY09 Revenue Up 6%, Profit Down 15%

NewsBreak

India's Cranes Q3 FY09 Revenue Up 6%, Profit Down 15%

See Also

·	Cranes website
·	FEA Products and Companies - list by TenLinks.com
·	related news

BANGLORE, India, Feb 3 2009 – 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, defense 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, defense, 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.

--------

If news like this is important to you, sign up for our TenLinks Daily at http://www.tenlinks.com/NEWS/sub_unsub.htm.

Source: Material used in press releases is often supplied by external sources and used as is.