Nucleus Software Exports (531209) Q4 98/99 earnings summary

Executive summary

• FY99 revenue rose 46.34% to Rs.790.01 lakh; operating profit reached Rs.274.65 lakh and PAT Rs.131.86 lakh, versus Rs.5.89 lakh a year earlier.

• Combined turnover, including the Singapore subsidiary, was Rs.9.69 crore; order bookings exceeded Rs.10 crore for the first time.

• Q4 turnover was Rs.298.78 lakh and net profit Rs.51.68 lakh.

Financial highlights

• Revenue from software development services and products increased to Rs.782.85 lakh from Rs.535.86 lakh; other income was Rs.7.16 lakh.

• PBT was Rs.143.86 lakh versus Rs.5.36 lakh; PAT was Rs.131.86 lakh versus Rs.5.89 lakh.

• Capital expenditure was Rs.208.07 lakh, including Rs.182.64 lakh in technology assets; prior-year capital expenditure was Rs.52.04 lakh.

• Operating cash flow reached Rs.371.22 lakh, compared with Rs.12.21 lakh; cash and bank balances ended at Rs.208.20 lakh.

Outlook and guidance

• Target set for 100% growth in turnover and profits during the current year.

• SEI CMM Level 3 certification target moved from June 1999 to March 2000 after implementation effort was underestimated.

• Plans called for 50,000 sq. ft. of additional space over two years, supporting more than 600 software professionals, and further development/support centers across overseas markets.

• Financial year-end changed from June to March; the transition year ends March 31, 2000.