Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Cranes Software FY 2003 revenues up 110%
By siliconindia
|
Monday, 16 June 2003, 19:30 IST
BANGALORE: Cranes Software International Ltd. (CSIL), a scientific and engineering software solutions provider, Monday reported a 155.59% increase in net profit to 
140.54 million in FY 2003, as against 54.98 million last year.
Net sales recorded a growth of 108.56% to 481.43 million as compared to 230.83 million last year. Revenues from overseas sales in FY 2003 has been 342.86 million, contributing 71.21% to the Companys net sales. EPS for the year is at 16.34 compared to 9.46 last year.
Commenting on the performance during FY 2003, Asif Khader, Managing Director, Cranes Software International Limited said, "I am pleased to report a strong performance, which continues to be driven by our strategy to focus on extending our business model to include new offerings through continuous investments in disruptive technologies and software products. During the year, we have undertaken several organic and inorganic initiatives that have translated into our progressive performance in fiscal 2003, with robust growth in both revenues and operating margins."
The Board of Directors recommended a dividend of 12% (subject to the approval of shareholders) for the year, which amounts to a payout including dividend tax of 11.40 million.
For the quarter ended 31st March 2003, the company recorded a growth of 112.84% in net profit on a stand-alone basis to touch 69.34 million as compared to 32.6 million in the sequentially preceding quarter in FY 2003. Net sales touched 228.57 million recording a growth of 107.22% over the net sales of 110.3 million recorded in the sequentially preceding quarter. Revenues from overseas sales increased 139.45% to 175.28 million from 73.2 million in the previous quarter.
During the year 2002, Cranes Software International Ltd. expanded its international operations through its subsidiaries by acquiring scientific software products SYSTAT from SPSS, USA, TableCurve 2D, TableCurve 3D and PeakFit from AISN, USA. Hence, previous years numbers are not comparable.
140.54 million in FY 2003, as against 54.98 million last year.
Net sales recorded a growth of 108.56% to 481.43 million as compared to 230.83 million last year. Revenues from overseas sales in FY 2003 has been 342.86 million, contributing 71.21% to the Companys net sales. EPS for the year is at 16.34 compared to 9.46 last year.
Commenting on the performance during FY 2003, Asif Khader, Managing Director, Cranes Software International Limited said, "I am pleased to report a strong performance, which continues to be driven by our strategy to focus on extending our business model to include new offerings through continuous investments in disruptive technologies and software products. During the year, we have undertaken several organic and inorganic initiatives that have translated into our progressive performance in fiscal 2003, with robust growth in both revenues and operating margins."
The Board of Directors recommended a dividend of 12% (subject to the approval of shareholders) for the year, which amounts to a payout including dividend tax of 11.40 million.
For the quarter ended 31st March 2003, the company recorded a growth of 112.84% in net profit on a stand-alone basis to touch 69.34 million as compared to 32.6 million in the sequentially preceding quarter in FY 2003. Net sales touched 228.57 million recording a growth of 107.22% over the net sales of 110.3 million recorded in the sequentially preceding quarter. Revenues from overseas sales increased 139.45% to 175.28 million from 73.2 million in the previous quarter.
During the year 2002, Cranes Software International Ltd. expanded its international operations through its subsidiaries by acquiring scientific software products SYSTAT from SPSS, USA, TableCurve 2D, TableCurve 3D and PeakFit from AISN, USA. Hence, previous years numbers are not comparable.