Cranes Software's Q1FY 2006 Consolidated Revenues Higher by 30.92%; Net Profit Higher by 33.52% at Rs. 129.6 Million.MUMBAI Mumbai (m  mbī`, m m`bī), formerly Bombay (bŏmbā`), city (1991 pop. , 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 Ltd.:--Note to the announcement: This press release discusses the financial performance of Cranes Software International Limited on a consolidated 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; Systat Software GmbH GmbH Gesellschaft mit Beschränkter Haftung (German: limited liability company; business entity) , 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 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 July July: see month. 28, 2005. Commenting on the performance, Asif Khader, Managing Director, Cranes Software International Limited, said, "Cranes Software delivered another sterling performance in the quarter under review, with strong growth in revenues and profitability. Our business is now creating multi-dimensional opportunities, which have contributed to steady business and operational expansion across the world. In the U.S., the large base of existing users of our software products suite provides the opportunity to sell multiple software upgrades and vertical modules to a captive captive said of naturally wild or feral animals kept in captivity for educational and scientific investigation with no attempt being made to domesticate them. audience. In Europe Europe (y r`əp), 6th largest continent, c.4,000,000 sq mi (10,360,000 sq km) including adjacent islands (1992 est. pop. 512,000,000). , our expanded sales team has delivered
growth by targeting specific user segments for our technical software
and aligning a·lign v. a·ligned, a·lign·ing, a·ligns v.tr. 1. To arrange in a line or so as to be parallel: align the tops of a row of pictures; aligned the car with the curb. with focal coordinating bodies in the academic sector. In India, we have recently initiated sales of our proprietary products to the corporate sector and research institutions. Overall, the pipeline is robust and we expect to deliver ongoing growth over the coming quarter." Cranes Software Group performance review: Corresponding quarter performance review: Q1 FY 2006 (April - June June: see month. 2005) v/s Q1 FY 2005 (April - June 2004) --Operating revenues grow 30.92% to Rs. 471.50 million compared to Rs.360.2 million. --Operating profit increased 67.42% at Rs. 284.4 million from Rs. 169.9 million. --Net profit after tax higher by 33.52% to Rs. 129.6 million from Rs. 97.1 million. Cranes Software stand-alone (jargon) stand-alone - Capable of operating without other programs, libraries, computers, hardware, networks, etc. Exactly what is absent is presumed to be obvious from context. "We only run Windows on stand-alone PCs because it's too dangerous to run it on networked ones." performance review: Corresponding quarter performance review: Q1 FY 2006 (April - June 2005) v/s Q1 FY 2005 (April - June 2004) --Operating revenues expanded by 41.82% to Rs. 395.4 million compared to Rs. 278.8 million. --Operating profit was up 80.42% at Rs. 270 million from Rs. 149.7 million. --Net profit after tax higher by 47.22% to Rs. 128.6 million from Rs. 87.4 million. Key corporate highlights during Q1 FY2006: --Acquisition of EMRC Cranes Software announced acquisition of Engineering Mechanics Research Corporation (EMRC) in India with its customers, brand names, trademarks, ongoing contracts, personnel and fixed assets fixed assets npl → activo sg fijo fixed assets npl → immobilisations fpl fixed assets fix npl → . EMRC is the developer of NISA Nisa, rivers: see Neisse, rivers of Poland. suite of products and a pioneer in the field of Computer Aided Engineering (application) Computer Aided Engineering - (CAE) Use of computers to help with all phases of engineering design work. Like computer aided design, but also involving the conceptual and analytical design steps. (CAE (1) (Computer-Aided Engineering) Software that analyzes designs which have been created in the computer or that have been created elsewhere and entered into the computer. ). The Company provides consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" and customised software in this domain. The consideration for this acquisition is part of a deal of US $ 1.5 million including the US arm of the EMRC operation, currently waiting some statutory clearances in US. The acquisition will immediately give access to Cranes Software to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. into an expanded market in the scientific and engineering software specifically in the Engineering Services domain. It provides comprehensive CAE-related capabilities through a high quality products suite, many years of product experience and extensive global usage backed by a worldwide sales and support organization. The acquisition is in line with the Company's strategy of purchasing undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. assets that provide substantial growth potential by leveraging existing strengths and capabilities. In addition to statistics and data visualization See information visualization. , the Company's portfolio now also addresses the mechanical, civil, automobile, aerospace and electrical engineering electrical engineering: see engineering. electrical engineering Branch of engineering concerned with the practical applications of electricity in all its forms, including those of electronics. markets, thus extending the range of software that it takes to scientists and engineers globally. --Systat Software Inc. and Cytel Software forge forge Open furnace for heating metal ore and metal for working and forming, or a workshop containing forge hearths and related equipment. From earliest times, smiths (see smithing) heated iron in forges and formed it by hammering on an anvil. Strategic Alliance As yet another product development initiative, the Company is in the process of working on Strategic Alliance partnerships with several leading global companies. Last quarter, Cranes' subsidiary, Systat Software Inc., forged forge 1 n. 1. A furnace or hearth where metals are heated or wrought; a smithy. 2. A workshop where pig iron is transformed into wrought iron. v. strategic partnership with Cytel Software Corporation, a leading provider of statistical software and services for optimized clinical trial design and analysis. Systat will license the components of Cytel's award winning StatXact software to create a new module for SYSTAT specializing in exact statistical tests. The integrated module will be marketed under the SYSTAT brand and distributed by Systat in 2006. --Ongoing product version launches in India through alliances During the quarter, Cranes Software, along with The MathWorks MathWorks - The MathWorks, Inc. Inc., announced the availability of SimPowerSystems 4 in India. SimPowerSystems 4, which enables engineers in a host of industries to use Model-Based Design to model and simulate simulate - simulation electrical circuits and power systems within Simulink Simulink, developed by The MathWorks, is a tool for modeling, simulating and analyzing multidomain dynamic systems. Its primary interface is a graphical block diagramming tool and a customizable set of block libraries. (R). In the same quarter under review, Cranes Software along with dSPACE dSPACE Digital Signal Processing and Control Engineering GmbH. launched dSPACE RapidPro in India. dSPACE RapidPro is a hardware product embedded Inserted into. See embedded system. with dSPACE software which helps in configuring signal conditioning Imagine feeding the output of a temperature sensor, which is in millivolts, to an Analog-to-digital converter to be processed. Is it possible for the Analog-to-Digital converter to process such a minute voltage amplitude? The answer is probably no. and power stage circuits that can be used in the automotive sector and the test laboratories. The new versions are available for Indian users through Cranes Software's nationwide product distribution network. --Cranes Software relocates Registered Office The registered offices of Cranes Software International Ltd. and its 100% subsidiaries Systat Software Asia Pacific Ltd. and EMRC Engineering Mechanics Research India.Ltd. was relocated re·lo·cate v. re·lo·cat·ed, re·lo·cat·ing, re·lo·cates v.tr. To move to or establish in a new place: relocated the business. v.intr. to 4th Floor, Block 1, Shankar Shan·kar , Ravi Born 1920. Indian-born musician and composer who popularized classical Indian music in the West. Noun 1. Shankar - Indian sitar player who popularized classical Indian music in the West (born in 1920) Narayana Narayana (Sanskrit: नारायण; nārāyaṇa) or Building, # 25, M.G Road, Bangalore. The new office will help consolidate Cranes Software's corporate operations into one centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. location and increase the development center work place by over 50 percent. 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 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 solutions from reputed reputed adj. referring to what is accepted by general public belief, whether or not correct. principals such as The MathWorks, 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, 2005
-------------------- ----------- ----------- ----------- -----------
SL. Particulars Three months ended Consolidated
NO.
----------------------- -----------------------
30.06.2005 30.06.2004 Three Months Ended
----------- ----------- -----------------------
(Unaudited) (Unaudited) 30.06.2005 30.06.2004
----------- ----------- ----------- -----------
(Unaudited) (Unaudited)
-------------------- ----------- ----------- ----------- -----------
(1) (2) (3) (4) (5)
-------------------- ----------- ----------- ----------- -----------
-------------------- ----------- ----------- ----------- -----------
Net
1 Sales/Services:
-------------------- ----------- ----------- ----------- -----------
Overseas 3,172.12 2,210.88 3,874.56 3,022.27
-------------------- ----------- ----------- ----------- -----------
Domestic 781.68 577.29 840.32 579.44
-------------------- ----------- ----------- ----------- -----------
Total Income 3,953.80 2,788.17 4,714.88 3,601.71
-------------------- ----------- ----------- ----------- -----------
Total
2 Expenditure:
-------------------- ----------- ----------- ----------- -----------
a) (Increase)/
Decrease in
Stock 260.25 (93.27) 268.07 (95.24)
-------------------- ----------- ----------- ----------- -----------
b) Material Cost 424.77 811.51 432.95 972.39
-------------------- ----------- ----------- ----------- -----------
c) Personnel
Expenses 212.95 145.25 656.07 478.93
-------------------- ----------- ----------- ----------- -----------
d) General &
Administrative
Expenses 356.09 427.77 513.50 546.79
-------------------- ----------- ----------- ----------- -----------
3 Interest 197.80 209.39 199.78 220.64
-------------------- ----------- ----------- ----------- -----------
4 Depreciation 542.93 225.97 670.81 289.11
-------------------- ----------- ----------- ----------- -----------
Profit before
5 tax 1,959.01 1,061.55 1,973.70 1,189.09
-------------------- ----------- ----------- ----------- -----------
Provision for
tax including
deferred tax
and Fringe
6 Benefit Tax 673.50 188.00 677.62 218.45
-------------------- ----------- ----------- ----------- -----------
7 Profit After tax 1,285.51 873.55 1,296.08 970.64
-------------------- ----------- ----------- ----------- -----------
Prior period
8 adjustments - 2.78 - 2.78
-------------------- ----------- ----------- ----------- -----------
Net profit after
prior period
9 adjustments 1,285.51 870.77 1,296.08 967.86
-------------------- ----------- ----------- ----------- -----------
Paid up Equity
share capital
10 of Rs.10/- each 1,016.68 1,016.68 1,016.68 1,016.68
-------------------- ----------- ----------- ----------- -----------
Reserves
excluding
Revaluation
11 Reserves - -
-------------------- ----------- ----------- ----------- -----------
Basic & Diluted
Earning per
12 Share (Rs.) 12.64 8.56 12.75 9.52
-------------------- ----------- ----------- ----------- -----------
Aggregate of
Non-Promoter
13 Shareholding
-------------------- ----------- ----------- ----------- -----------
- Number of
Shares 66,47,497 66,47,497
-------------------- ----------- ----------- ----------- -----------
- Percentage of
Shareholding 65.38% 65.38%
-------------------- ----------- ----------- ----------- -----------
Rupees in
Lacs
------------------- ----------- -------------
SL. Particulars Consolidated
NO.
----------- -------------
Year ended Year ended
----------- -------------
31.03.2005 31.03.2005
----------- -------------
(Audited) (Audited)
------------------- ----------- -------------
(1) (6) (7)
------------------- ----------- -------------
------------------- ----------- -------------
Net
1 Sales/Services:
------------------- ----------- -------------
Overseas 9,306.90 12,419.97
------------------- ----------- -------------
Domestic 3,881.25 3,918.48
------------------- ----------- -------------
Total Income 13,188.15 16,338.45
------------------- ----------- -------------
Total
2 Expenditure:
------------------- ----------- -------------
a) (Increase)/
Decrease in
Stock (377.41) (335.28)
------------------- ----------- -------------
b) Material Cost 3,044.17 3,258.81
------------------- ----------- -------------
c) Personnel
Expenses 517.80 1,573.90
------------------- ----------- -------------
d) General &
Administrative
Expenses 1,471.61 2,558.71
------------------- ----------- -------------
3 Interest 1,079.21 1,088.03
------------------- ----------- -------------
4 Depreciation 1,676.79 2,239.23
------------------- ----------- -------------
Profit before
5 tax 5,775.97 5,955.04
------------------- ----------- -------------
Provision for
tax including
deferred tax
and Fringe
6 Benefit Tax 1,286.96 1,349.75
------------------- ----------- -------------
7 Profit After tax 4,489.01 4,605.29
------------------- ----------- -------------
Prior period
8 adjustments 1.31 2.47
------------------- ----------- -------------
Net profit after
prior period
9 adjustments 4,487.70 4,602.82
------------------- ----------- -------------
Paid up Equity
share capital
10 of Rs.10/- each 1,016.68 1,016.68
------------------- ----------- -------------
Reserves
excluding
Revaluation
11 Reserves 14,564.02 14,676.55
------------------- ----------- -------------
Basic & Diluted
Earning per
12 Share (Rs.) 44.14 45.27
------------------- ----------- -------------
Aggregate of
Non-Promoter
13 Shareholding
------------------- ----------- -------------
- Number of
Shares 66,47,497
------------------- ----------- -------------
- Percentage of
Shareholding 65.38%
------------------- ----------- -------------
Segment-wise Revenue, Results & Capital Employed
Rs. in
lakhs
---------------------------------- ----------- ----------- -----------
Sl.No. Particulars Quarter Quarter Year
ended ended ended
30.06.2005 30.06.2004 31.03.2005
(Unaudited) (Unaudited) (Audited)
---------------------------------- ----------- ----------- -----------
1 Segment Revenue:
a) Product Division 3,800.97 2,736.91 12,691.76
b) Training Division 152.83 51.26 496.39
Total 3,953.80 2,788.17 13,188.15
Less : Inter segment
Revenue - - -
Net Sales 3,953.80 2,788.17 13,188.15
Add: Other unallocable
Income - - -
Total Income 3,953.80 2,788.17 13,188.15
2 Segment Results
(Profit(+)/Loss(-) before
tax and interest from
each segment
a) Product Division 2092.23 1,253.13 6,623.05
b) Training Division 110.72 17.81 232.13
Total 2202.95 1,270.94 6,855.18
Less : i) Interest 243.94 209.39 1,079.21
ii) Other
unallocable
expenditure net
off unallocable
income - - -
Total Profit Before Tax 1,959.01 1,061.55 5,775.97
3 Capital Employed (Segment
assets-Segment
Liabilities)
a) Product Division 29,888.97 12,632.82 24,905.89
b) Training Division 1,100.59 236.60 984.47
Total 30,989.56 12,869.42 25,890.36
Notes:
1 The above results have been taken on record by the Board of
Directors at their meeting held on 28th July, 2005.
2 The break up of income of the company for the quarter ended 30th
June, 2005 is as follows
(Rs. In
lakhs)
Particulars Amount
Income from Software Business 3,953.80
Others -
Total 3,953.80
3 The segment report is prepared in accordance with the Accounting
Standard - 17 "Segment Reporting" issued by the Institute
of Chartered Accountants of India.
4 The consolidated results have been prepared in line with the
requirements of Accounting Standards - 21 "Consolidated
Financial Statements".
5 There were no investor complaints received during the quarter.
There were no complaints pending at the beginning or lying
unresolved at the end of the quarter.
6 Previous period figures have been regrouped/reclassified
wherever necessary.
7 The Statutory Auditors have conducted a Limited Review of
Accounts for the aforesaid period.
8 The consolidated results include results of following:
Name of the Company % of holding Holding Company
Systat Software Asia Pacific 100% Cranes Software
Ltd International Ltd
Systat Software Inc. USA 100% Cranes Software
International Ltd
Systat Software UK Ltd. 100% Systat Software Inc.
USA
Cranes Software International 100% Cranes Software
Pte. Ltd., International Ltd
Systat Software GmbH 100% Cranes Software
International Ltd
EMRC Engineering Mechanics 100% Cranes Software
Research (India) Pvt Ltd International Ltd
By Order of the Board
Place Bangalore Asif Khader
Date: 28th July, 2005 Managing
Director
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