Hughes Software Systems announces Q1
Results
Germantown , Maryland, USA , July 10, 2001
Q1 over Corresponding Q1: 101% rise in Post Tax Profits
and a 77 % increase in Sales.
Hughes Software Systems Limited (HSS) for the quarter ended
June 30, 2001 has reported a Profit After Tax of Rs 187 Million,
a 101% increase over the corresponding quarter of last year
(Rs 93 Million in Q1 of 2000-01). The company, for the quarter,
has reported sales of Rs. 634 Million, a 77% increase over
the corresponding quarter last year (Rs 358 Million in Q1
of 2000-01). The other income for the quarter was at Rs. 32
Million.
The HSS board of directors approved these results at a meeting
held here today.
Pradman Kaul, Chairman of HSS said, "We are pleased
with our revenue and earnings this quarter when compared to
the first quarter of last year. While the overall market continues
to be difficult, we remain optimistic about meeting our historic
growth targets. Our ability to help our customers (major telecom
equipment manufacturers) bring their products to market faster
and at a lower cost continues to be the key to our success
in this market."
Arun Kumar, President and Managing Director of HSS said,
"Our expertise in packet based datacom and other technologies
are becoming our key growth drivers in increasingly difficult
market conditions. We have continued to show a steady increase
in PAT, from 23% in 1997 to 30% in 2000-01, and maintaining
industry's top-end EBITDA margins. In this quarter, HSS got
its first significant royalty flow as a part of unfolding
of our products story. Overall we are excited and confident
of our future while continuing our growth in revenues and
profitability."
The new order input during the quarter kept pace with the
revenues and the company closed the quarter with an order
back log of about US $ 22 million. During the quarter, the
company added 11 new customers including DirecTV, General
Motors and a further increase in business from Johnson Controls,
Lucent and NEC. The company demonstrated its products at major
international trade shows including VoN Europe and Supercomm
2001.
The revenue mix for the company for the quarter comprised
of 36% of the sales coming from Services for Hughes Network
Systems (HNS), 37% from Professional Services and 27% from
Products.
About Hughes Software Systems (HSS)
Hughes Software Systems Limited, the #1 communications software
company in India, offers a broad range of communications-related
software services, products, and solutions to leading Communication
OEMs and Service Providers around the world.
HSS is a subsidiary of Hughes Network Systems, a unit of
Hughes Electronics Corporation. Rated among the best 5 companies
to work for in India, by Hewitt Associates, HSS has a team
of 1600+ world class professionals, who work at its development
centres in India: at Gurgaon, a suburb of New Delhi, and at
Bangalore. With sales and support offices in the US, the UK,
Germany and Finland it is represented throughout Europe, South
America, and Asia to support its global customer base.
For more information about HSS
visit http://www.hssworld.com
or contact:
Jay Vikram Bakshi
+91-124-634 6666 x 2865
prcontact@flextronicssoftware.com
Last updated : August 5, 2006
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