CIMdata PLM Industry Summary Online Archive
18 April 2008
Financial News
Geometric Q4 USD Revenues up 1.8% QoQ, Operating Profit up 28.6% QoQ; Annual Revenues up 42.7% on USD Basis
Geometric Ltd. Announced its Q4 results for FY 2007-08.
Financial Highlights
The Revenue from operations for the quarter rose to Rs 1264.7 million as against Rs 1239.6 million of the previous quarter. The Operating profit was Rs. 97.2 million, as compared to Rs. 75.6 million for the previous quarter accounting a sequential increase of 28.6%. The Company booked an Other Income loss of Rs 10.7 million as compared to a gain of Rs 25.8 million in the previous quarter. Profit after tax was Rs 46.7 million as against Rs 68 million for the previous quarter. Earnings per share (EPS) for the quarter was Rs 0.75 taking the annual EPS to Rs.5.18.
Speaking about the results, Dr. Ravi Gopinath, Managing Director and CEO said, “the past year has been a challenging one. However we have started to the see the results of the various initiatives that we launched during the year in the form of strengthening of our operations, measured in terms of growth in new business closures and pipeline; improvements in delivery efficiencies; improved cost efficiencies in our US operations; and the increasing acceptance and awareness of Geometric in our target customer space. As we move into FY09, I firmly believe that we now have the foundation for sustainable growth.”
Commenting on the negative Other Income, Mr. G. Ravishankar, CFO said, “early adoption of AS30 lowered the Mark-to-Market losses on foreign exchange contracts. The loss of Rs 10 Million is essentially due to translation losses.”
Offshore (including offsite) revenue as a percentage of total services revenue increased from 52.6% to 63.6%. The Company had 2968 employees as of March 31, 2008, including its subsidiaries.
Utilization in the quarter was 81.9%.
Business Highlights
• The Company added 9 new customers and closed new business worth 12.7 Million USD.
• Growing traction in the European market with 5.4 Million USD worth of new business booked.
Products
• CAMWorks®, our SolidWorks® certified Gold CAM product, showed marked improvement in sales over the previous quarter. Revenue from Europe increased significantly while the US sales dipped marginally.
• DFMProTM, our design for manufacturability tool, started sales.
• Five of our NestLib®, nesting libraries, customers purchased additional modules of the library and renewed their annual support agreements with some of them opting for significantly longer terms. One of our major OEM partners renewed royalty agreements for additional three year.
• The products and technologies team exhibited at various shows including SolidWorks World 2008, Die and Mold Exhibition, and WESTEC.
For further details about Geometric, please visit http://www.geometricglobal.com
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