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Geometric Soft Q4 net up 44% at 
5.55cr
By agencies
|
Friday, 15 April 2005, 19:30 IST
BANGALORE:Geometric Software Solutions Company Ltd has posted a net profit of 
5.55 crore for the quarter ended March 31, 2005 as compared to 3.86 crore for the quarter ended March 31, 2004. Total income has increased from 20.35 crore in Q4-04 to 31.67 crore for the quarter ended March 31, 2005.
The company has posted a net profit of 20.66 crore for the year ended March 31, 2005 as compared to 16.66 crore for the year ended March 31, 2004. Total income has increased from 73.44 crore in FY-04 to 106.26 crore for the year ended March 31, 2005.
The consolidated results are as follows:
The group has posted a net profit of 8.09 crore for the quarter ended March 31, 2005 whereas the same was at 5.34 crore for the quarter ended March 31, 2004. Total income for the quarter ended March 31, 2005 is 52.51 crore whereas the same was at 32.03 crore in Q4-04.
The Group has posted a net profit of 27.47 crore for the year ended March 31, 2005 whereas the same was at 20.84 crore for the year ended March 31, 2004. Total Income for the year ended March 31, 2005 is 173.30 crore whereas the same was 112.38 crore in FY-04.
The above-consolidated results include the results of Geometric Software Solutions Inc, USA (100% holding), Geometric Software Solutions Pte Ltd, Singapore (100% holding), Teksoft Inc, USA (80.09% holding) and 3D PLM Software Solutions Ltd, India (70 % holding).
The company acquired from OnCourse Technologies, Inc 7583 Shares of TekSoft, Inc. and 500 shares of Cimtronics, Inc (100% of common stock) for cash consideration of $1.75 million. The company also surrendered 269 preference shares of OnCourse Technologies Inc., subscribed at the cost of $ 269,000 towards non-cash consideration for acquiring TekSoft shares.
Further, in a planned action for acquisition the company has sold its entire shareholding in Cimtronics, Inc. to the top management of Cimtronics, Inc. $ 1,00,000 being the price paid by the company to OnCourse Technologies, Inc. plus a share of direct expenses. The company has also sold 1,510 shares of TekSoft, Inc. to the top management of TekSoft, Inc. at the same price per share as paid by the company plus a share of direct expenses. The company is committed to buy-back the 1,510 shares of Teksoft, Inc during the three financial years commencing from April 1, 2007 based on the financial performance of Teksoft, Inc. The net Investment made by the company for acquisition of TekSoft, Inc. shares amounted to $1.66 million, equivalent to 7.27 crore.
Accordingly, the consolidated financial results for this quarter and year include the results of the subsidiary company Teksoft Inc and hence the previous year's figures are not comparable
The Board of Directors has recommended a dividend at the rate of 4 per equity shares of 10 each subject to the approval of shareholders at the ensuing Annual General Meeting.
The Board of Directors has also recommended the sub division of the company's equity shares of 10 each into 5 equity shares of 2 each, subject to the approval of shareholders at the ensuing Annual General Meeting.
5.55 crore for the quarter ended March 31, 2005 as compared to 3.86 crore for the quarter ended March 31, 2004. Total income has increased from 20.35 crore in Q4-04 to 31.67 crore for the quarter ended March 31, 2005.
The company has posted a net profit of 20.66 crore for the year ended March 31, 2005 as compared to 16.66 crore for the year ended March 31, 2004. Total income has increased from 73.44 crore in FY-04 to 106.26 crore for the year ended March 31, 2005.
The consolidated results are as follows:
The group has posted a net profit of 8.09 crore for the quarter ended March 31, 2005 whereas the same was at 5.34 crore for the quarter ended March 31, 2004. Total income for the quarter ended March 31, 2005 is 52.51 crore whereas the same was at 32.03 crore in Q4-04.
The Group has posted a net profit of 27.47 crore for the year ended March 31, 2005 whereas the same was at 20.84 crore for the year ended March 31, 2004. Total Income for the year ended March 31, 2005 is 173.30 crore whereas the same was 112.38 crore in FY-04.
The above-consolidated results include the results of Geometric Software Solutions Inc, USA (100% holding), Geometric Software Solutions Pte Ltd, Singapore (100% holding), Teksoft Inc, USA (80.09% holding) and 3D PLM Software Solutions Ltd, India (70 % holding).
The company acquired from OnCourse Technologies, Inc 7583 Shares of TekSoft, Inc. and 500 shares of Cimtronics, Inc (100% of common stock) for cash consideration of $1.75 million. The company also surrendered 269 preference shares of OnCourse Technologies Inc., subscribed at the cost of $ 269,000 towards non-cash consideration for acquiring TekSoft shares.
Further, in a planned action for acquisition the company has sold its entire shareholding in Cimtronics, Inc. to the top management of Cimtronics, Inc. $ 1,00,000 being the price paid by the company to OnCourse Technologies, Inc. plus a share of direct expenses. The company has also sold 1,510 shares of TekSoft, Inc. to the top management of TekSoft, Inc. at the same price per share as paid by the company plus a share of direct expenses. The company is committed to buy-back the 1,510 shares of Teksoft, Inc during the three financial years commencing from April 1, 2007 based on the financial performance of Teksoft, Inc. The net Investment made by the company for acquisition of TekSoft, Inc. shares amounted to $1.66 million, equivalent to 7.27 crore.
Accordingly, the consolidated financial results for this quarter and year include the results of the subsidiary company Teksoft Inc and hence the previous year's figures are not comparable
The Board of Directors has recommended a dividend at the rate of 4 per equity shares of 10 each subject to the approval of shareholders at the ensuing Annual General Meeting.
The Board of Directors has also recommended the sub division of the company's equity shares of 10 each into 5 equity shares of 2 each, subject to the approval of shareholders at the ensuing Annual General Meeting.