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Nucleus Software Announces Q1 FY14 Results: Q1 Results Shows Positive Momentum of Organizational Transformation Initiatives Registering 17% YoY Revenue Growth

July 20, 2013 | Press Release
New Delhi, 22 July, 2013: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), a leading global software product and solutions provider to the banking and financial services industry, today announced its financial results for the quarter ended 30th June, 2013. The revenue for the quarter rose to Rs. 86.32 crore, a growth of 17 % from the corresponding quarter in the previous year.

Commenting on the first quarter FY2014 performance, Mr. Vishnu R. Dusad, CEO and Managing Director, Nucleus Software, said “Encouraged by the strong execution of our teams, we have commenced this financial year with growth in revenue and EBITDA. The product business performed in line with expectations. I am confident that our transformational initiatives in operations and human resources will pay significant returns and will empower the company for long-term growth.”

Nucleus Software is making investments globally in strengthening its employee relationships while continuing to hire people in line with its growing business pipeline. In order to engage effectively with the global workforce, the company has embarked on a 360 0 Talent Management drive to build career differentiation opportunities for its people as well as rewarding talent. Furthermore, continuing to invest in growth, Nucleus Software’s technological advancements and domain-expertise combined with best delivery practices has ensured high quality servicesfor over 150 global clients.

FOR THE QUARTER APRIL – JUNE 2013

Consolidated results for the quarter ended June 30, 2013
  1. Revenue for the quarter stood at Rs. 86.32 crore from software products and solutions in comparison to Rs. 73.95 crore in the corresponding quarter of the previous year.
  2. Product business revenue for the quarter was at Rs. 62.47 crore in comparison to Rs. 50.58 crore in the corresponding quarter of the previous year.
  3. EBITDA for the quarter stood at Rs. 14.22 crore in comparison to Rs. 9.16 crore in the corresponding quarter of the previous year.
  4. Net Profit after Tax (PAT) stood at Rs. 11.17 crore in comparison to Rs. 12.30 crore in the corresponding quarter of the previous year.
  5. Earnings Per Share (EPS) for the quarter was reported at Rs. 3.45 in comparison to Rs. 3.80 in the corresponding quarter of the previous year.
LIQUIDITY
Cash and cash equivalents, including investmentsin debt schemes of mutual funds, fixed deposits with banks and tax free PSU bonds are at Rs. 284.23 crore as on June 30, 2013, as against Rs. 222.80 crore as on June 30, 2012.

BUSINESS HIGHLIGHTS

For the first quarter ended 30th June, 2013
  1. The company won 2 new product orders worldwide.
  2. Nucleus Software completed a total of 10 product modules implementations of FinnOne TM and Cash@Will TM suite across Europe, South East Asia, Latin America, and Middle East regions.
  3. With over 150 customers across the globe for the financial year ending FY 2013, the company added a new customer in the first quarter of FY 2014.
EVENTS PARTICIPATED IN THE QUARTER APRIL – JUNE 2013

  1. Nucleus Software showcased its award winning Retail Auto Finance products at the E.N.G.'s Automotive Finance Summit on the 4 th & 5 th June 2013 in Frankfurt. To find out more about the company’s retail banking products, please visit the following page: http://www.nucleussoftware.com/retailBanking.html
  2. In the month of May, Nucleus Software exhibited at The European Banking Forum (EBF) showcasing its award winning Lending and Cash Management product solutions at the event
  3. To discuss the future of Lending, the company exhibited at the ‘Technology & Innovation — the Future of Banking & Financial Services’ Conference organized by FST Media on the 14 th May in Malaysia
INVESTOR CONFERENCE CALL INFORMATION
On July 22, 2013, the management team at Nucleus Software including Chief Executive Officer and Managing Director, Mr. Vishnu R Dusad will participate in a conference call for Investors and Analysts at 4:00 PM IST.

Details of the Earnings Conference Call are given below:
Date July 22, 2013
Time 4:00 PM IST
Conference ID 5009803#
All India Toll Free Number
Back Up All India Toll Free Number
18002000209
18002001298
Dial In Access Numbers Delhi/ NCR :011- 39406000/ 44121100
Mumbai: 022- 39406000/ 44121100
Kolkata:033- 39406000
Chennai:044- 39406000/ 44121100

The audio and transcript of this conference call will made available at the Investor section of the website www.nucleussoftware.com

About Nucleus Software

Nucleus Software (BSE & NSE: NUCLEUS) is the leading provider of lending and transaction banking products to the global financial services industry. Its software powers the operations of more than 150 companies in 50 countries, supporting retail banking, corporate banking, cash management, internet banking, automotive finance and other business areas. Nucleus Software is known for its world-class expertise and innovation in lending and transaction banking technology. It has two flagship products, built on the latest technology:
  • FinnOneTM 10 time winner - World’s Best Selling Lending Solution. 
  • FinnAxiaTM, an integrated global transaction banking solution used by banks worldwide to offer efficient and Innovative global payments and receivables, liquidity management and business internet banking services.
Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit: http://www.nucleussoftware.com/safe-harbor.

For Media related information, please contact:

Rashmi Joshi, Nucleus Software
Email: rashmi.joshi@nucleussoftware.com
Phone: +91-9560694654