Hughes Software Systems announces Record
Q3 Results
Q3 over Corresponding Q3: 101% rise
in Post Tax Profits Excluding Extraordinary Items and a 91%
increase in Total Income
New Delhi, January 8, 2001
Hughes Software Systems Limited (HSS) for the quarter ended
Dec 31, 2000 has reported a record Profit After Tax of Rs
18.40 crore, a 40 % increase over the previous quarter (Rs
13.14 crore - Q 2 2000-01) and a 101% increase over the corresponding
quarter of last year (Rs 9.17 crore excluding extraordinary
items of Rs 5.15 crore - Q 3 1999-00). The company, for the
quarter has also reported a record Total Income of Rs. 58.93
crore, a 24% increase over the previous quarter (Rs 47.65
crore - Q 2 2000-01) and a 91% increase over the corresponding
quarter last year (Rs 30.86 crore - Q 3 1999-00). The Net
Sales for the quarter was Rs 56.33 crore and other income
was at Rs. 2.60 crore
The HSS board of directors approved these results at a meeting
held today.
Pradman Kaul, Chairman of HSS said, " There are signs of acceleration
in our business as we continue to deploy products in Voice
over Packet and mobile data markets. Our expertise in packet
switching and other datacom technologies gives us a unique
position in these markets. "
Arun Kumar, President and Managing Director of HSS said, "
The financial year 2000 - 2001 performance till date validates
our strategy of being a products & services company. We
will continue to offer components, subsystems and total solutions
to our customers and are positioning ourselves at the high
end of value chain. Overall we are excited and confident that
HSS is well poised to continue its growth in revenues &
profitability."
The new order input for the quarter was 102% higher over the
corresponding quarter last year (Q 3- 1999-2000) and 49% higher
than the previous quarter (Q 2 2000-01). The company has obtained
significant orders for both products & services from accounts
like Italtel, Ericsson Aheadcom, Motorola, Nokia & NEC
during the quarter. During the quarter the company added 8
customers (3 in professional services and 5 in products).
Revenue visibility for Products & Services remains to
be good with a healthy order book.
RightServe, the ASP business, added 11 new accounts during
the quarter. A survey performed by eIMRB has ranked RightServe
as the number one ASP in the country.
The revenue mix for the company for the Q3 comprised of 34
% of the sales coming from services for Hughes Network Systems
(HNS), 37 % from professional services and 29 % from products.
Product sales during the quarter have continued to grow at
an impressive rate of 162% over the corresponding quarter
last year (Q 3- 1999-2000) and 26% over the previous quarter
(Q 2 2000-01). Subsystems & solutions contributed to 50%
of product sales during this quarter.
During the quarter the company demonstrated its products at
major international trade shows including VoN Europe &
Supercomm and launched a new product in the mobile data area.
About Hughes Software Systems (HSS)
Hughes Software Systems Ltd. (www.hssworld.com), is the #1
communications software company in India. HSS offers a broad
range of communications-related software services, products,
and solutions to leading Communication OEMs and Service Providers
around the world.
HSS' focus is in the Convergence market. The Next Generation
Networks business offers Voice over IP solutions under the
MultiQuickT series. It includes gateway and
gatekeeper built around MGCP/MEGACO, SIGTRAN, SIP and H.323
standards.
The Wireless Networks business is focussed on providing solutions
to build wireless capability in traditional networks. It includes
protocol stacks such as SS7 and GPRS under the ProtoQuick™
series and Intelligent Networking and Service Node under IntelliQuick™
series.
The Professional Services business provides software design
and development services to enable development of communication
technologies and e-commerce applications and solutions.
In the Internet and E-Commerce arena, HSS' RightServe™
provides targeted web banner advertising service as an ASP.
SwiftBill™ is an electronic bill presentation
and payment solution.
HSS has been assessed at SEI?CMM Level 4 for all its development
centres and all projects. It has been an ISO 9001 company
since 1996.
HSS is a subsidiary of Hughes Network Systems, a unit of Hughes
Electronics Corporation. HSS has a team of more than 1100
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 and the UK, it is
represented throughout Europe, South America, and Asia to
support its global customer base.
For more information about HSS contact:
Jay Vikram Bakshi
Manager Corporate Communications
Phone: +91-124-634 6666 Extn. 2865
Fax: + 91-124- 6347895
Email: prcontact@flextronicssoftware.com
Click here to view the audited
results.
Hughes Software Systems, HSS MultiQuick™,
SwiftBillT, IntelliQuick™,
ProtoQuick™, and RightServe™
are trademarks of Hughes Software Systems. All other trademarks
belong to the respective companies.
Last updated : August 5, 2006
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