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Nucleus Software Announces Q2 FY 10 Results

October 26, 2009 | Press Release
New Delhi, October 26, 2009: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), today announced its Q2 results for financial year 2009-2010.

Nucleus Software's consolidated revenue for the quarter ending September 30, 2009, is at Rs. 70.75 crore in comparison to Rs. 75.46 crore in the corresponding quarter of the previous year. With total expenses at Rs. 58.80 crore in comparison to Rs. 67.06 crore in the corresponding quarter of the previous year, the consolidated EBITDA is at Rs. 11.95 crore in comparison to Rs. 8.40 crore in the previous year. Net profit after tax (PAT) is at Rs. 9.88 crore in comparison to Rs. 4.07 crore in the corresponding quarter of the previous year.

For the half year ending September 30, 2009, consolidated revenue is at Rs. 151.29 crore in comparison to Rs. 158.35 crore in the corresponding half-year period in the previous year. With total expenses at Rs. 123.33 crore in comparison to Rs. 135.77 crore in the corresponding half-year period in the previous year, the consolidated EBITDA is at Rs. 27.96 crore in comparison to Rs. 22.58 crore in the corresponding half-year period in the previous year. Net Profit after tax (PAT) is at Rs. 20.01 crore in comparison to Rs. 12.10 crore in the corresponding half-year period in the previous year

Highlights

Quarter Ended September 30, 2009 

  1. Consolidated revenue at Rs. 70.75 crore from software products and software development services in comparison to Rs. 75.46 crore in the corresponding quarter of the previous year.
  2. Product business revenue for the quarter at Rs. 39.07 crore in comparison to Rs. 52.10 crore in the corresponding quarter of the previous year.
  3. EBITDA at Rs. 11.95 crore in comparison to Rs. 8.40 crore in the corresponding quarter of the previous year.
  4. Net Profit After Tax (PAT) at Rs. 9.88 crore in comparison to Rs. 4.07 crore in the corresponding quarter of the previous year.
  5. Earning Per Share for the quarter at Rs. 3.05 in comparison to Rs. 1.26 in the corresponding quarter of the previous year
Half- Year Ended September 30, 2009

  1. Consolidated revenue at Rs. 151.29 crore from software products and software development services in comparison to Rs. 158.35 crore in the corresponding half- year of the previous year.
  2. Product business revenue at Rs. 86.38 crore in comparison to Rs. 109.37 crore in the corresponding half-year of the previous year.
  3. EBITDA at Rs. 27.96 crore in comparison to Rs. 22.58 crore in the corresponding half-year of the previous year
  4. Net Profit After Tax (PAT) at Rs. 20.01 crore in comparison to Rs. 12.10 crore in the corresponding half-year of the previous year.
  5. Earning Per Share for the half-year at Rs 6.18 in comparison to Rs. 3.74 in the corresponding half-year of the previous year. 
Vishnu R Dusad, CEO and Managing Director, Nucleus Software said: “Our continued focus on our intellectual property led business and innovation in product development has augmented our capability to serve our clients in a competitive marketplace. Analyst firms like the Forrester recognized Nucleus Software among the top banking platform providers in Asia Pacific and Middle East. We have also been recognized by Forrester as an industry vertical specialist in a study on a Tier 2 offshore service providers.

Other Key Information 

For the Quarter Ended September 30, 2009
  1. 5 new order wins in the second quarter of the fiscal year
  2. 3 new customers added
  3. Won orders for 20 new product modules
  4. 25 product modules successfully implemented across the globe
  5. Global strength of employees as on September 30, 2009 is 1,805.
  6. Forrester Research recognizes Nucleus Software for its banking platform deals in 2008
  7. Nucleus Software recognized as an industry vertical specialist Forrester Research
  8. Nucleus Software launches new version of its cash management software
For the Half-Year Ended September 30, 2009
  1. 16 new orders in the first six months of the fiscal year
  2. 10 new customers added
  3.  Won orders for 56 new product modules
  4. 43 product modules successfully implemented across the globe
  5. Global strength of employees as on September 30, 2009 is 1,805.
  6. Forrester Research recognizes Nucleus Software for its banking platform deals in 2008
  7. Nucleus Software recognized as an industry vertical specialist Forrester Research
  8.  Nucleus Software launches new version of its cash management software 
Accolades / Awards / Recognition
  1. Forrester Research recognizes Nucleus Software for its banking platform deals in 2008
  2. Nucleus Software recognized as an industry vertical specialist Forrester Research
New Client Wins
This quarter we added 3 new customers and bagged 5 new orders for implementing 20 product modules in the second quarter of FY 2009-10, from the leading financial institutions in India, Middle East, Africa, South East Asia and Japan. This region has immense potential in terms of growth in the banking sector and institutions, both large and small, are increasingly realizing the importance of technology in enhancing businesses.

Successful Global Implementations: 
This quarter 25 product modules went live in various markets across the globe. Some of the implementations were completed in record time. This further gave increased visibility to Nucleus in the global markets, and reaffirmed its standing in the global lending and cash management space.


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