Oracle Financial Services Software (532466) Q4 99/00 earnings summary

Executive summary

• FY1999-00 revenue rose 43% to Rs.2,062.69 million; PBT increased 41% to Rs.721.00 million.

• Customer base reached 238 financial institutions across 66 countries; 32 institutions signed up during the year.

• Products, consulting and digital finance initiatives expanded, alongside investment in staff, facilities and new markets.

Financial highlights

• Revenue was Rs.2,062.692 million versus Rs.1,444.306 million; PBT was Rs.721.001 million versus Rs.511.106 million.

• Indian GAAP net profit was Rs.692.732 million versus Rs.504.334 million; EPS was Rs.83.27 versus Rs.60.62 on the current equity base.

• US GAAP net income was Rs.793.190 million versus Rs.456.425 million; operating income was Rs.755.085 million versus Rs.416.752 million.

• US GAAP basic EPS was Rs.105.33 versus Rs.61.28; diluted EPS was Rs.101.30 versus Rs.58.93.

• Other income included a Rs.35.5 million reversal of the prior Y2K provision; no Y2K product issues or related customer incidents were reported.

Outlook and guidance

• Directors expected all-round business growth in coming years, barring unforeseen circumstances.

• Revenue share from the US and Europe had reached 52% in FY1999-00, from 19% in FY1996-97; management expected the share to rise further.

• Growth priorities included advanced markets, financial-sector consulting, internet solutions and the Application Service Provider model.