Cranes Software's Q1 FY 2006 Consolidated Revenues Expand 35%; Net Profit up by 47% at Rs. 190 million; Launches ESOP Scheme for a Significant Section of Cranes' Employees.BANGALORE Bangalore (băng-gəlôr`), city (1991 pop. 2,651,000; metropolitan area 4,130,288), capital of Karnataka state, S central India, 3,000 ft (914 m) above sea level. , India India, officially Republic of India, republic (2005 est pop. 1,080,264,000), 1,261,810 sq mi (3,268,090 sq km), S Asia. The second most populous country in the world, it is also sometimes called Bharat, its ancient name. India's land frontier (c. -- Cranes Software Cranes Software International Limited is a global scientific & engineering products and solutions provider. The Company's business interests straddle products, services, R&D in future technologies, training and high-end consultancy for engineers and scientist worldwide. International Limited: --Note to the announcement: This press release discusses the financial performance of Cranes Software International Limited on a consolidated con·sol·i·date v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates v.tr. 1. To unite into one system or whole; combine: basis. This includes the performance of its fully owned subsidiaries Systat SYSTAT is a statistics and statistical graphics software package, developed by Leland Wilkinson in the late 1970's, who was at the time an assistant professor of psychology at the University of Illinois at Chicago. Systat was incorporated in 1983 and grew to over 50 employees. Software Inc., USA; Systat Software Inc.'s subsidiary Systat Software UK Limited; NISA Nisa, rivers: see Neisse, rivers of Poland. Software Inc, USA; Systat Software Gmbh, Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). ; Cranes Software International Pte. Ltd, Singapore Singapore (sĭng`gəpôr, sĭng`ə–, sĭng'gəpôr`), officially Republic of Singapore, republic (2005 est. pop. 4,426,000), 240 sq mi (625 sq km). ; EMRC EMRC Electronic Media Rating Council EMRC Emergency Medical Resource Center (fire/rescue) EMRC Engineered Maintenance Requirements Catalog EMRC Electromagnetic Research Consultants, Inc. Engineering Mechanics mechanics, branch of physics concerned with motion and the forces that tend to cause it; it includes study of the mechanical properties of matter, such as density, elasticity, and viscosity. Research (India) Pvt. Ltd. and Systat Software Asia Pacific Ltd. Cranes Software International Ltd. (Cranes Software), a global scientific and engineering software solutions provider, today announced its audited results for the quarter ended June June: see month. 30, 2006. Commenting on the performance, Asif Khader, Managing Director, Cranes Software International Limited, said, "Cranes delivered another strong performance in the quarter under review, with continued revenue growth and further expansion in margins. We remain focussed on creating innovation-led opportunities across all our global initiatives. With this perspective, we have launched several new versions and updates of our software portfolio during the quarter. We have announced the introduction of an ESOP ESOP See: Employee Stock Ownership Plan ESOP See Employee Stock Ownership Plan (ESOP). plan for select employees. This we believe will further enhance the spirit of entrepreneurship en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. that runs deep at Cranes and instill in·still v. To pour in drop by drop. in  stil·la tion n. a feeling of ownership amongst our Employees. All these
initiatives, in the short duration of just three months, demonstrate the
business momentum of our operations. It is our endeavour to emerge as a
preferred technology partner for the global scientific and engineering
community."
Cranes Software Group performance review:
Corresponding quarter performance:
Q1 FY 2007 (April - June 2006) v/s Q1 FY 2006 (April - June 2005)
-- Operating revenues increased by 35% to Rs. 637 million
compared to Rs. 471.50 million.
-- Operating profit improved by 18% at Rs. 335 million compared
to Rs. 284.4 million.
-- Net profit after tax grew by 47% to Rs. 190 million from Rs.
129.6 million.
Key corporate highlights during Q1 FY2007:
-- New product launches and software upgrades:
During the quarter, Cranes introduced new versions/updates of
its suite of software products:
-- Cranes enhanced its CAE-focused NISA software suite
through several launches aimed at expanding its presence
in the global finite element analysis (FEA) domain.
-- NISA 14 - Cranes launched NISA 14, the new version
comes with over 30 new features offering major
upgrades in performance, ease-of-use and graphing
capabilities.
-- NISA Civil - Cranes launched a completely enhanced
version of the civil engineering package 'NISA Civil'
for the international market.
-- NISA-Linux - Cranes announced the availability of NISA
14 for the Linux Operating System. The NISA-Linux
combination enables enterprise users to handle large
engineering simulations with ease and cost
effectiveness.
-- SigmaPlot 10 - Cranes launched SigmaPlot 10, the latest
version of its scientific graphing and data analysis
package. SigmaPlot 10 provides researchers new features to
confidently analyze data and create exact,
publication-quality graphs that best present research
results for presentation, publication or the web. Cranes
had launched Version 9 of this software in August 2004.
-- SYSTAT 11 Korean - Cranes, together with Phil Science,
Inc., introduced the Korean language version of its
acclaimed statistical analysis software SYSTAT 11. This
new language version reaches users in Korea with a local
language graphic user interface and translated technical
manuals. The company had launched the Japanese language
version of SYSTAT 11 last year.
-- Introduction of ESOP plan
Cranes has introduced its initial employee stock option plan
(ESOP 2006 plan) that will cover a large section of employees
with the objective of accelerating contribution in the long
term corporate goals of the company, improving retention,
attracting new talent and motivating/rewarding employees.
-- Developments pertaining to the EMRC acquisition
Cranes merged the operations of its wholly-owned subsidiary
EMRC India with itself effective April 1, 2006. Cranes also
announced the completion of the acquisition of EMRC's US
operations. EMRC, the developer of NISA suite of products and
a pioneer in the field of Computer Aided Engineering (CAE),
was previously acquired by Cranes in May 2005 for US$ 1.5
million. Cranes has now also completed the acquisition
process, enabling the reorganization and restructuring of
NISA's business in India to derive optimal benefits.
-- Cranes Software achieves India's first ISO 27001:2005
Accreditation
Cranes became the first Indian company and second worldwide to
be awarded with the ISO 27001:2005 by DNV under Norwegian
accreditation, the ultimate benchmark for information
security.
About Cranes Software International Limited Cranes Software is a global scientific & engineering products and solutions provider. The Company's business interests straddle In the stock and commodity markets, a strategy in options contracts consisting of an equal number of put options and call options on the same underlying share, index, or commodity future. products, services, R&D in future technologies, training and high-end high-end adj. Informal 1. Appealing to sophisticated and discerning customers: a high-end department store; high-end video equipment. 2. consultancy for engineers and scientist worldwide. Focused on the scientific and engineering community, Cranes Software has addressed the needs of a variety of customer groups ranging from large MNCs to the US armed force for over a decade. Today, Cranes Software has its presence in 38 countries across the world and has a customer base of more than 350,000. Cranes Software also offers world-renowned world-re·nowned adj. Widely known and acclaimed. solutions from reputed reputed adj. referring to what is accepted by general public belief, whether or not correct. principals such as The MathWorks MathWorks - The MathWorks, Inc. , Mentor Graphics Mentor Graphics, Inc (NASDAQ: MENT) is a US-based multinational corporation dealing in electronic design automation (EDA) for electrical engineering and electronics, as of 2004, ranked third in the EDA industry it helped create. , Texas Instruments See TI. (company) Texas Instruments - (TI) A US electronics company. A TI engineer, Jack Kilby invented the integrated circuit in 1958. Three TI employees left the company in 1982 to start Compaq. , IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) and Lanner lan·ner n. 1. A falcon (Falco biarmicus) of Africa, the Mediterranean, and southern Asia. 2. A female of this species, used in falconry. through product alliances. With a mission statement to provide its customers the best in scientific technology and to enable its customers to define new limits, Cranes Software is setting new standards in the scientific and engineering field. For further information on the company, its products and services please log on to www.cranessoftware.com. Certain statements in this release concerning our growth prospects are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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 CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or .
CRANES SOFTWARE INTERNATIONAL LIMITED
Regd. Office : 4th Floor, Block I, Shankar Narayana Building, # 25,
M G Road
Bangalore - 560 001
Unaudited Financial Results (Provisional) for the Quarter ended 30th
June, 2006
---------------------------------- ----------- ----------- -----------
----------- ----------- -----------
Three months ended Year ended
----------------------- -----------
Sl. Particulars 30.06.2006 30.06.2005 31.03.2006
----------- ----------- -----------
No. (Unaudited) (Unaudited) (Audited)
---------------------------------- ----------- ----------- -----------
(1) (2) (3) (4) (5)
---------------------------------- ----------- ----------- -----------
---------------------------------- ----------- ----------- -----------
1 Net Sales/Services:
---------------------------------- ----------- ----------- -----------
Overseas 4,977.19 3,172.12 14,153.93
---------------------------------- ----------- ----------- -----------
Domestic 884.93 781.68 4,548.08
---------------------------------- ----------- ----------- -----------
2 Other Income 139.76 - 236.08
---------------------------------- ----------- ----------- -----------
Total Income 6,001.88 3,953.80 18,938.09
---------------------------------- ----------- ----------- -----------
3 Total Expenditure:
---------------------------------- ----------- ----------- -----------
a) (Increase)/Decrease in Stock 16.07 260.25 394.17
---------------------------------- ----------- ----------- -----------
b) Material Cost 932.24 424.77 3,618.39
---------------------------------- ----------- ----------- -----------
c) Personnel Expenses 695.50 212.95 1,342.80
---------------------------------- ----------- ----------- -----------
d) General & Administrative
Expenses 1,062.55 356.09 2,071.90
---------------------------------- ----------- ----------- -----------
4 Interest 113.92 197.80 808.60
---------------------------------- ----------- ----------- -----------
5 Depreciation 941.68 542.93 2,492.45
---------------------------------- ----------- ----------- -----------
6 Profit before tax 2,239.92 1,959.01 8,209.78
---------------------------------- ----------- ----------- -----------
7 Provision for tax including
deferred tax 316.78 673.00 1,848.43
---------------------------------- ----------- ----------- -----------
8 Provision for Fringe Benefit
Tax 9.32 0.50 17.50
---------------------------------- ----------- ----------- -----------
9 Profit After tax 1,913.82 1,285.51 6,343.85
---------------------------------- ----------- ----------- -----------
10 Paid up Equity share capital of
Rs.2/- each 2,273.36 1,016.68 2,273.36
---------------------------------- ----------- ----------- -----------
11 Reserves excluding Revaluation
Reserves 28,895.88
---------------------------------- ----------- ----------- -----------
12 Earning per Share(Rs.)(1)-Basic 1.68 1.26 5.88
---------------------------------- ----------- ----------- -----------
Diluted 1.48 1.26 5.86
---------------------------------- ----------- ----------- -----------
13 Aggregate of Non-Promoter
Shareholding
---------------------------------- ----------- ----------- -----------
- Number of Shares 70,474,970 33,237,485 70,474,970
---------------------------------- ----------- ----------- -----------
- Percentage of Shareholding 62.00% 65.38% 62.00%
---------------------------------- ----------- ----------- -----------
---------------------------------- ----------- ----------- -----------
(1) Not annualised
Rupees in Lacs except share data
--------------------------------- ------------------------------------
Consolidated
------------------------------------
Three Months Ended Year ended
------------------------ -----------
Sl. Particulars 30.06.2006 30.06.2005 31.03.2006
------------ ----------- -----------
No. (Unaudited) (Unaudited) (Audited)
--------------------------------- ------------ ----------- -----------
(1) (2) (6) (7) (8)
--------------------------------- ------------ ----------- -----------
--------------------------------- ------------ ----------- -----------
1 Net Sales/Services:
--------------------------------- ------------ ----------- -----------
Overseas 5,320.44 3,874.56 16,260.07
--------------------------------- ------------ ----------- -----------
Domestic 884.93 840.32 4,827.15
--------------------------------- ------------ ----------- -----------
2 Other Income 159.94 - 295.19
--------------------------------- ------------ ----------- -----------
Total Income 6,365.31 4,714.88 21,382.41
--------------------------------- ------------ ----------- -----------
3 Total Expenditure:
--------------------------------- ------------ ----------- -----------
a) (Increase)/Decrease in
Stock 20.86 268.07 369.41
--------------------------------- ------------ ----------- -----------
b) Material Cost 984.04 432.95 3,633.71
--------------------------------- ------------ ----------- -----------
c) Personnel Expenses 872.54 656.07 2,634.70
--------------------------------- ------------ ----------- -----------
d) General & Administrative
Expenses 1,140.93 513.50 2,946.45
--------------------------------- ------------ ----------- -----------
4 Interest 113.92 199.78 815.12
--------------------------------- ------------ ----------- -----------
5 Depreciation 963.94 670.81 2,830.23
--------------------------------- ------------ ----------- -----------
6 Profit before tax 2,269.08 1,973.70 8,152.79
--------------------------------- ------------ ----------- -----------
7 Provision for tax including
deferred tax 357.75 677.12 1,884.79
--------------------------------- ------------ ----------- -----------
8 Provision for Fringe Benefit
Tax 9.32 0.50 19.25
--------------------------------- ------------ ----------- -----------
9 Profit After tax 1,902.01 1,296.08 6,248.75
--------------------------------- ------------ ----------- -----------
10 Paid up Equity share capital
of Rs.2/- each 2,273.36 1,016.68 2,273.36
--------------------------------- ------------ ----------- -----------
11 Reserves excluding Revaluation
Reserves 28,970.56
--------------------------------- ------------ ----------- -----------
12 Earning per Share (Rs.)(1)
-Basic 1.67 1.27 5.80
--------------------------------- ------------ ----------- -----------
Diluted 1.47 1.27 5.77
--------------------------------- ------------ ----------- -----------
13 Aggregate of Non-Promoter
Shareholding
--------------------------------- ------------ ----------- -----------
- Number of Shares
--------------------------------- ------------ ----------- -----------
- Percentage of Shareholding
--------------------------------- ------------ ----------- -----------
--------------------------------- ------------ ----------- -----------
(1) Not annualised
CRANES SOFTWARE INTERNATIONAL LIMITED
Segment-wise Revenue, Results & Capital Employed
------------ ----------- -----------
--------------------------------- ------------ ----------- -----------
Sl.No. Particulars Quarter Quarter Year
ended ended ended
30.06.2006 30.06.2005 31.03.2006
(Unaudited) (Unaudited) (Audited)
--------------------------------- ------------ ----------- -----------
1 Segment Revenue:
a) International 4,977.19 3,172.12 14,153.93
b) Domestic 884.93 781.68 4,548.08
Total 5,862.12 3,953.80 18,702.01
Less: Inter segment
Revenue - -
Net Sales 5,862.12 3,953.80 18,702.01
Add: Other unallocable
Income 139.76 - 236.08
Total Income 6,001.88 3,953.80 18,938.09
2 Segment Results
(Profit(+)/Loss(-) before
tax and interest from each
segment
a) International 2,225.53 2,051.28 8,358.88
b) Domestic 128.31 105.53 659.50
Total 2,353.84 2,156.81 9,018.38
Less : i) Interest 113.92 197.80 808.60
ii) Other unallocable
expenditure net off
unallocable income
Total Profit Before Tax 2,239.92 1,959.01 8,209.78
3 Capital Employed (Segment
assets-Segment
Liabilities)
a) International 50,745.82 24,791.65 49,582.17
b) Domestic 10,065.97 6,197.91 9,971.70
Total 60,811.79 30,989.56 59,553.87
------------- ----------- -----------
Consolidated
-------------------------------- -------------------------------------
Sl.No. Particulars Quarter Quarter Year
ended ended ended
30.06.2006 30.06.2005 31.03.2006
(Unaudited) (Unaudited) (Audited)
-------------------------------- ------------- ----------- -----------
1 Segment Revenue:
a) International 5,320.44 3,874.56 16,260.07
b) Domestic 884.93 840.32 4,827.15
Total 6,205.37 4,714.88 21,087.22
Less : Inter segment
Revenue -
Net Sales 6,205.37 4,714.88 21,087.22
Add: Other unallocable
Income 159.94 - 295.19
Total Income 6,365.31 4,714.88 21,382.41
2 Segment Results
(Profit(+)/Loss(-) before
tax and interest from each
segment
a) International 2,254.69 2,051.63 8,305.20
b) Domestic 128.31 121.85 662.71
Total 2,383.00 2,173.48 8,967.91
Less : i) Interest 113.92 199.78 815.12
ii) Other unallocable
expenditure net off
unallocable income
Total Profit Before Tax 2,269.08 1,973.70 8,152.79
3 Capital Employed (Segment
assets-Segment
Liabilities)
a) International 52,897.32 26,029.67 51,347.05
b) Domestic 10,065.97 8,009.89 10,847.51
Total 62,963.29 34,039.56 62,194.56
Notes:
1 The above results have been taken on record by the Board of
Directors at their meeting held on 27th July, 2006.
2 There were no investor complaints received during the quarter. There
were no compliants pending at the beginning or lying unresolved
at the end of the quarter.
3 Previous period figures have been regrouped/reclassified where ever
necessary.
4 The Statutory Auditors have conducted a Limited Review of Accounts
for the aforesaid period.
5 During March, 2006 the Company raised Euro 42 Million (Rs.220.77
Crores) by way of issue of 2.50%
Foreign Currency convertible bonds due in 2011. The Utilisation of
fund up to June 30, 2006 is as follows:
----------------------------- -----------------
Particulars Rs. Crores
----------------------------- -----------------
Issue Expenses 7.76
----------------------------- -----------------
Capital expenditure 182.67
----------------------------- -----------------
Term Loan repayment to Jammue
& Kashmir Bank 9.73
----------------------------- -----------------
Software Imports 8.09
----------------------------- -----------------
Others (Exchange Variation) (10.08)
----------------------------- -----------------
Total 198.17
----------------------------- -----------------
6 Plan for utilisation of the funds of Rs.108 Crores mobilised through
preferential issue of shares is under formulation; contracts under
final stages of negotiations.
7 The consolidated results include results of following:
Name of the Company % of holding Holding
Company
Systat Software Asia Pacific Ltd 100% Cranes
Software
International
Ltd
Systat Software Inc. USA 100% Cranes
Software
International
Ltd
Systat Software UK Ltd. 100% Systat
Software Inc.
USA
Cranes Software International Pte. Ltd., 100% Cranes
Software
International
Ltd
Systat Software GmbH 100% Cranes
Software
International
Ltd
EMRC Engineering Mechanics Research Cranes
(India) Ltd 100% Software
International
Ltd
Nisa Software Inc, USA 100% Cranes
Software
International
Ltd
Analytics Systems P Ltd. 100% Cranes
Software
International
Ltd
By Order of
the Board
Place: Bangalore Asif Khader
Date: 27th July, 2006 Managing
Director
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