Satyam’s Revenue grows 35%, Net Profit grows 43%
|
Hyderabad, India, April 20, 2007: Satyam
declared its results for the fourth quarter and fiscal year
ended 2007, today. Revenue for the year grew by 35%, while
profits grew by 43% over fiscal 2006. The other highlights
of the performance are as follows:
Business Outlook
- For fiscal 2008, under US GAAP, revenue is expected to
be between US$ 1.87 bn and US$ 1.9 bn, implying a growth
rate of 28.0% to 30.0% over fiscal 2007. Basic earning per
ADS for fiscal 2008 is expected to be between US$ 1.16 and
US$ 1.18, implying a growth rate of 27% - 29% over fiscal
2007.
- Corresponding revenue growth under Indian GAAP consolidated
is expected to be between 20.0% and 22.0% [in US$ terms 28%
- 30%]. EPS for the full year is expected to be between Rs.
25.32 and Rs. 25.73; a growth of 18.0% –20.0%.
Consolidated Indian GAAP Highlights
The highlights of the results under Indian GAAP Consolidated
basis are:
Q4 FY07
- Revenue was Rs.1,779 crore; a YoY increase of 35.4% and
a sequential increase of 7.1%.
- Total income was Rs. 1,850 crore; a YoY increase of 37.8%
and a sequential increase of 10.7%.
- Net Profit after Tax was Rs. 394 crore; a YoY increase
of 38.3% and a sequential increase of 16.7%.
- EPS was Rs. 5.98; a YoY increase of 36.0% and a sequential
increase of 16.2%.
- EBITDA margin for the quarter was 23.1%.
FY 2007
- Revenue was Rs. 6,485 crore; a growth of 35.3% over fiscal
2006.
- Total income was Rs. 6,668 crore; a growth of 35.8% over
fiscal 2006.
- Net Profit after Tax was Rs. 1,405 crore; a growth of
43.1% over fiscal 2006.
- EPS at 21.45 grew by 40.6% over FY 2006.
- EBITDA for the year was 23.7%; a drop of about 60 bps
over fiscal 2006.
Others
- The parent company ended the quarter with 35,670 associates,
an addition of 1,265 associates including 600 trainees for
Q4 07. The number of associates including those of subsidiaries
and joint ventures stood at 39,552.
- Attrition on a trailing twelve months basis fell to 15.7%
from 17.6% in Q3. Annualized quarterly attrition stood at
13.21% compared to 21.9% at the beginning of FY 2007.
- 35 new customers added in Q4 including 5 Fortune Global
500 and US 500 companies.
Nipuna
For fiscal 2007, Nipuna recorded revenue of US$ 38.3 mn, a
growth of 91% over fiscal 2006 and was EBITDA positive for
the year. The revenue guidance for fiscal 2008 is US$ 61 mn,
a growth of 60% over the previous year. As of March 31, 2007,
Nipuna had 2,916 associates and an infrastructure to accommodate
around 5,000 associates.
“The strong performance in FY 07 is a culmination
of strategic initiatives taken by the company on several
fronts notably in the areas of relationship management, deepening
of competencies and associate delight,”said B.
Ramalinga Raju, founder & chairman, Satyam.
He also added “We continue to win the confidence
of our prominent customers resulting in opportunities of
significant size and criticality. Our recent win of a US$200
mn deal from Applied Materials in Q4 based on a managed services
model is illustrative of this trend. This has been complemented
by our successful execution capabilities resulting in higher
growth of such accounts.”
“Offshore billing rates were up by 0.7% and onsite
rates increased by 0.6% in this quarter. Based on the contract
renegotiations that we had in the last year and the rates
at which new customers are coming in we are confident that
the positive momentum seen in the billing rates in Q4 will
continue in FY 08 also”said Srinivas Vadlamani,
chief financial officer, Satyam.
Awards & Recognition
Forrester Research, an independent technology and market research
company, in its Forrester Wave analysis of 13 leading Applications
Outsourcing (AO) Providers, across 50 criteria, in the North
American market, said:
”Satyam is a leading North American Applications Outsourcing
Provider. Satyam’s solution strategy is strong, particularly
in its vision for next generation architectures.”
- William Martorelli ,The Forrester Wave™ North
American Applications Outsourcing, Q1 2007, March 26, 2007
“Satyam has the largest overall ERP practice and the heaviest commercial
focus on packaged enterprise software."
- Dana Stiffler, Research Director, AMR
Research, “Indian Service Provider’s ERP Practice
Grow up”, January 26, 2007
Training Magazine placed Satyam at No.15 in the Top 125 companies for learning,
making Satyam the first ever company in Asia to feature in the rankings.
Satyam bagged top honors in two categories in global IR awards.
Satyam was ranked “number one in India and among top
5 in the Asia / Pacific region”in the financial disclosure
procedures category in the Global IR rankings, instituted by
MZ Consult. In the corporate governance category, Satyam was
ranked “number one in the Asia / Pacific region”.
The ranking system is based on extensive research by several
respected companies and investors, and includes input from
audit, corporate governance, and legal experts, such as KPMG
Independent Auditors, Linklaters and JP Morgan.
Satyam has been accorded the No. 2 position in the Hewitt ‘Best
Employers in India’survey.
Satyam is also featured amongst the Top 12 in the Hewitt ‘Best
Employers in Asia’survey, making it the only IT services
company from India in the Top 20 rankings.
New Appointments in Board of Directors
Mr. T. R. Prasad, ex-Cabinet Secretary, Government of India
and Member of the 12th Finance Commission, and Dr. V. S. Raju,
presently Chairman of the Naval Research Board, Defense Research
and Development Organization, Government of India and Director,
Bharti Airtel Limited, will join Satyam’s Board as Additional
Directors with immediate effect.
Satyam Contacts
For further information, contact: rfi@satyam.com
India
|
Rajesh, rajesh@perfectrelations.com,
+91 40 55316861, +91 98490 42184
|
US
|
Ivette
Almeida, ialmeida@hfgcg.com 1-
646-284-9455 | +1-201-232-0128
|
Europe
|
Priti
Thakker, priti_thakker@satyam.com,
+1 973 753 1858, +1 973 997 1149
|
Asia-
Pacific
|
Reshma Wad Jain, reshma@wer1.net,
+65 6737 4844, +65 98140507 or Amber Dale, a.dale@polaris-me.com,
Jiang Ying, rfi@satyam.com,
+86 21 5080 7600 extn 4015, +86 13816686084
|
Safe Harbor:
This press release contains forward-looking
statements within the meaning of section 27A of Securities
Act of 1933, as amended, and section 21E of the Securities
Exchange Act of 1934, as amended. The forward-looking statements
contained herein are subject to certain risks and uncertainties
that could cause actual results to differ materially from
those reflected in the forward-looking statements. Satyam
undertakes no duty to update any forward-looking statements.
For a discussion of the risks associated with our business,
please see the discussions under the heading “Risk
Factors”in our report on Form 6 - K concerning the
quarter ended December 31, 2006, furnished to the United
States Securities Exchange Commission on January 27, 2007
and the other reports filed with the Securities Exchange
Commission from time to time. These filings are available
at www.sec.gov
Back
|
|
About Us
