Hughes Software Systems announces Q2
Results
New Delhi, India , October 11, 2001
Announces diversification into applications for service
providers.
Hughes Software Systems Limited (HSS) has reported a Total
Income of Rs. 574 million, a 20% increase over the corresponding
quarter last year (Rs. 477 million in Q2 of 2000-01). The
Profit After Tax for the second quarter is Rs. 63 million.
The HSS board of directors approved these results at a meeting
held here today.
For the half-year ended September 30, 2001, the Total Income
grew by 44% (from
Rs. 860 million to Rs. 1,240 million). In the same period,
the Profit After Tax grew by 12% (from Rs. 224 million to
Rs. 250 million).
In the second quarter, HSS added 3 new customers for Products
and 2 new customers for Services. The revenue mix for the
quarter comprised of 46% of the sales coming from Services
for Hughes Network Systems (HNS), 41% from Professional Services
and 13% from Products.
Arun Kumar, President and Managing Director of HSS said,
"The deterioration in the global economic environment
has resulted in downsizing and lower business forecasts from
communication companies worldwide. This has impacted the customer
decision making processes and resulted in delays in awarding
contracts. HSS has not lost any significant contract but the
time to close has increased."
Talking about the future, Kumar said, "We are diversifying
our business into a new segment with in the communication
space by concentrating on building broadband communications
applications for the service provider segment. This would
also include offerings in the OSS space."
One of HSS' early engagements, in this direction, is the
Center of Excellence for building peer to peer broadband communications
applications for the Hughes SPACEWAYä program which was
announced earlier this week. This initiative will develop
a strong team to learn and develop applications in this growing
segment.
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
Forward Looking and cautionary statements
Certain statements in this release concerning our future
growth prospects are forward-looking statements. All these
forward-looking statements are subject to certain risks and
uncertainties, including, but not restricted to, government
action; local political or economic development in, or affecting,
countries where HSS has operations; technological risks; risks
inherent in the company's growth strategy; dependence on certain
clients; dependence on availability of technical consultants,
and other factors that could cause our actual results to differ
materially from those contemplated by the relevant forward
looking statements. The Company undertakes no obligation to
publicly update these forward-looking statements to reflect
subsequent events or circumstances.
Last updated : August 5, 2006
|
