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Cambridge Solutions Delivers Annual Numbers
Bangalore, India – June 17, 2008 : Cambridge Solutions Limited (“Cambridge”),one of the leading knowledge-based IT and BPO firms in the world, today reported Rs 12,363 million in consolidated revenues for the year ended March 31, 2008. For the Financial year 2008, Consolidated Earnings before Interest, Depreciation, Amortization and Tax is Rs 944 million. The Loss after Tax stood at Rs 88 million, Excluding Rs 156 million, non cash/one time charges, the net profit for the year was Rs 68 million. year. On a year on Year (YOY) basis the consolidated revenue has improved by 3.5% (in US Dollar terms) and the EBITDA has declined marginally by 2.7%, normalizing the result for the sale of Albion (the US IT Government division) & exceptional income of US $ 3.6 million during 2006-07. The company’s revenue has grown at a CAGR of 89% since inception. Earnings before Interest, Depreciation, Tax and Amortization have also trended up over the same period as shown below.
During 2007-08, there was one time charge of Rs 23.7 million due to the write-off of ancillary cost related to debt restructuring, a Rs 33.9 million charge due to an agreement of a transfer pricing arrangement with the tax office in Australia for the period 2006 through 2011 and a deferred tax charge of Rs 98.5 million. Excluding Rs 156.1 million of these non cash / one time charges, the net profit was Rs 68.1 million. On a geographic basis, Americas, being the major territory, contributed 70% of the consolidated revenues followed by Australia at 17% and the balance 13 % from Europe and Asia. On a line of business basis, the BPO segment contributed 72.8% to consolidated revenues. The India BPO operations grew 74% YOY (US Dollar terms) while the International BPO operations, Australia operations climbed up by 22% & US BPO operations declined by 7% (US Dollar Terms) YOY. IT Services contributed 27.2% of the consolidated revenues and grew by 12% YOY (US Dollar terms) net of discontinued operations. Globally, the total headcount has moved up from 4400 to 4600, whereas for the US geography, the headcount has declined from 1900 approximately 1600 About Cambridge Solutions Ltd.
The company employs 4600 professionals serving customers on four continents through more than 80 locations worldwide. With offices in the U.S., Europe, India, Singapore, and Australia, Cambridge serves Fortune 500 firms, insurance and financial services companies, and public entities around the world. The company’s BPO subsidiary was named one of the top three best performing BPO companies by Global Services media and neoIT in 2006 and 2007, ranked as one of the top three leaders in human capital management. Cambridge Solutions was ranked as the 10th leading outsourcing company in the world in the International Association of Outsourcing Professionals (IAOP)’s “2007 Global Outsourcing 100” list, that appeared in a special advertising section in Fortune Magazine, improving its ranking from 28 last year. The company is listed on the major stock exchanges of India (BSE, NSE, MSE & ASE) under the ticker “CAMBRIDGE”. For more information, visit: www.cambridgeworldwide.com. In case of Investor Grievances, Please contact: Compliance Officer Ph : 080 3054 0000 Fax: 080 4115 7394 EMail : compliance@cambridge-asia.com Safe Harbor Media Contacts: Melissa Arulappan Cambridge Solutions Ltd. |
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