Sasken Q3 FY07 Revenues at Rs 131 crore
Press Release
Bangalore, January 24, 2007: Sasken Communication Technologies Limited
(BSE:532663, NSE:SASKEN), a pioneer in telecom R&D and support outsourcing,
today announced its consolidated results according to Indian GAAP for the third
quarter ended December 31, 2006.
Quarter ended December 31, 2006
Consolidated revenues: Rs 131.02 crore – up 11% vs Q2 FY07
Consolidated Profit After Tax (PAT): Rs. 11.87 crore – flat vs Q2 FY07
Consolidated EPS: Rs 4.22/- vs Rs 4.24/- in Q2 FY07
Nine months ended December 31, 2006
Consolidated Revenues: Rs 339.69 crore – increases 48% vs same period FY06
Consolidated PAT: Rs 32.41 crore – increases 95% vs same period FY06
Consolidated EPS: Rs 11.56/-
Key Financial Highlights for Q3 FY07
• Average collection period stands at 72 days
• Revenue contribution from the Top five customers stood at 81% and from
Top 10 customers at 89%
• Cash and cash equivalents stand at Rs. 42.5 crore as on December 31, 2006,
compared to Rs. 41.2 crore as on September 30, 2006
• The consolidated Forex-hedged position on December 31, 2006 was
USD 56.1 Million
• The subsidiary in Mexico has turned profitable for the cumulative period of
nine months ending December 31, 2006
Key Business Highlights for Q3 FY07
• A net total of 139 people were added this quarter (Gross Adds of 350),
taking the total employee strength to 3,512 as on December 31, 2006
• Utilization on the services side stands at 73.6%
• EBITDA Margins on the services side were at 22.9%
• One new Design-In and one new Design-Win on the products side
• 11 new customers added during the quarter; a total of 76 active customers
during the year
Indian GAAP Financial Release – Q3 FY07
Commenting on the performance, Rajiv Mody, Chairman & CEO, Sasken said,
“The Sasken Group has had a strong year so far. For the first nine months of
this year, our revenues have grown 48% and net profits have grown 95%. Our
services business has delivered 57% growth rate in revenues YTD. All industry
trends point towards this growth momentum sustaining and continuing in a
healthy manner. Our services efficiencies are improving and we held our
EBITDA margins at 22.9% in Q3, despite the adverse impact of the currency.
“The products business is working towards achieving set milestones. We had a
Japanese Tier 1 handset vendor shipping a new phone model with our
multimedia software. We also signed up a Taiwanese semiconductor
manufacturer for our Wireless modem sub-system product. More handset
shipments from other Tier 1 customers are in the pipeline containing our
multimedia and modem products.
Our application framework product is fully integrated with the Texas
Instruments (TI) Locosto chipset, which we had announced earlier in the
quarter. We are also focused on getting a sign-up for this product from a
handset customer, and working towards achieving that milestone in Q4,” he
added.
“As we go towards the next orbit of growth, we are cognizant of the need to
have high quality management expertise to steer us there. With this
perspective, we have inducted some senior people into our management team.
We have a new head for Worldwide Sales, an expanded Sales team and a new
business CTO, all of whom come from global communication majors,” Rajiv
added.
The detailed financial results are given in an Annexure to this Media Release. A
fact sheet providing the operating metrics for the company and a presentation
for analysts can be downloaded from the investor section of www.sasken.com.
Conference Call details
A conference call is planned at 1030 hrs IST on Thursday, January 25, 2007,
where the senior management of Sasken led by Chairman and CEO, Rajiv Mody,
will comment on the company’s performance for the third quarter and nine
months ended December 31, 2006, and respond to queries from participants.
To participate in the conference call, please dial the numbers given below ten
minutes ahead of the schedule. The transcript of this conference call will be
available within 72 working hours in the investor section of the company
website, www.sasken.com. Details of the conference call are also available on
www.sasken.com.
About Sasken
Sasken is an embedded telecom solutions company that helps businesses across
the telecom value chain accelerate product development life cycles.
Sasken offers a hybrid model of services and products, and works with Network
OEMs, semiconductor vendors, Terminal Devices OEMs and operators across the
world. Global Fortune 500, Tier 1 companies in each of these segments are part
of Sasken’s customer profile. Established in 1989, Sasken employs over 3,500
people at its offices in India, China, Finland, Germany, Japan, Mexico, Sweden,
UK and the U.S. Sasken has consistently been rated as a Best Employer in all
leading industry surveys.
For further information, please contact:
Investor Relations
Venkatesh S, Sasken (+91 80 6694 4817)
Mobile: +91 98457 19332
E-Mail: svenkat@sasken.com
Media
CSV Ratna, Sasken (+91-80-6694 4996)
Manish T, Adfactors PR (+91 99455 13552)
Email: pr@sasken.com
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