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Press Release

Nucleus Software announces Q1 FY 11 Results

August 2, 2010 | Press Release
New Delhi, India, August 2, 2010: Nucleus Software Exports Limited (NSE: NUCLEUS, BSE: 531209), has announced Q1 results for the financial year 2010-11

Nucleus Software consolidated revenue for the quarter ending June 30, 2010, is at Rs. 66.14 crore in comparison to Rs. 80.54 crore in the corresponding quarter of the previous year. With total expenses at Rs. 61.43 crore in comparison to Rs. 64.53 crore in the corresponding quarter of the previous year, the consolidated EBITDA is at Rs. 4.71 crore in comparison to Rs. 16.01 crore in the previous year. Net Profit after Tax (PAT) is at Rs. 5.29 crore in comparison to Rs.10.13 crore in the corresponding quarter of the previous year.

Highlights

Quarter Ended June 30, 2010

  1. Consolidated revenue at Rs. 66.14 crore from software products and software development services in comparison to Rs. 80.54 crore in the corresponding quarter of the previous year.
  2. Product business revenue for the quarter at Rs. 42.95 crore in comparison to Rs. 47.31 crore in the corresponding quarter of the previous year.
  3. EBITDA at Rs. 4.71 crore in comparison to Rs .16.01 crore in the corresponding quarter of the previous year.
  4. Net Profit after Tax (PAT) at Rs. 5.29 crore in comparison to Rs. 10.13 crore in the corresponding quarter of the previous year.
  5. Earning Per Share for the quarter at Rs. 1.63 in comparison to Rs. 3.13 in the corresponding quarter of the previous year.
Other Key Information

For the Quarter Ended June 30, 2010 

  1. Won 15 new product orders worldwide
  2. 14 new customers added in the quarter
  3. Won orders for 48 product modules of FinnOne™ and CASH@WillTM Suite 1
  4. 6 product modules successfully implemented across the globe
  5. Global strength of employees as on June 30, 2010 is 1528
Vishnu R Dusad, CEO and Managing Director, Nucleus Software said, “This has been a difficult quarter with both revenue and profitability declining on a year on year and sequential basis. The decline in revenue is a consequence of the weak order book at the beginning of the quarter. At the end of the quarter, with the improvement in the economic environment and 15 new order wins, there is an improvement in the order book and we are on course to improve performance in the coming quarters.”

Niraj Vedwa, COO, Nucleus Software said, “Our investments into Sales, marketing and new geographies have started generating results with 15 new product orders to implement 48 modules in 22 countries. We have bagged a large order from Europe from one of the Top 10 banks to implement our Cash management product in 14 countries. With increase in business in hand, high visibility on prospects and high focus on quality and timely delivery besides operational efficiency, we are confident of delivering better results going forward.”

Expansion of services and significant projects

New Client Wins
Nucleus bagged 15 new product orders and acquired 14 new customers for implementing 48 product modules of the FinnOne™ and CASH@WillTM Suite in the first quarter of year 2010-2011.  

     Successful Global Implementations
This quarter 6 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 Exports Ltd. is a publicly traded (BSE: 531209, NSE: NUCLEUS), software product company that provides lending and transaction banking products to global financial leaders.

Nucleus Software powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas. Its products facilitate more than 26 million transactions each day, managing over US $ 200 billion of loans and enabling more than 200,000 users logging in daily.

Nucleus Software’s flagship products, built on the latest technology are:
  • FinnOne NEOTM : The next-generation digital lending solution that is built on an advanced technology platform, designed to shape the future of lending across Retail, Corporate and Islamic sectors for banks and other financial service companies. The 10 time winner of ‘World’s Best Selling Lending Solution’, helps digitize the complete loan lifecycle.
  • 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.
  • PaySeTM : The world's first online & offline digital payment solution designed and created with an aim to democratize money by making banking services available to the unbanked in remote geographies.
For more information, please visit : http://www.nucleussoftware.com

For Media related information, please contact:

Sunil Kumar Singh / Kiran Hans Khowal

Finese PR

Email: nucleus@finesepr.com
Phone: +91-9818363518 | +91-8375969143