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Hyderabad, October 18, 2007:
Megasoft Limited (BSE CODE NO:532408 and
NSE CODE NO:MEGASOFT),
a transnational Intellectual
Property-driven, product-based technology
company,
today announced financial results for the
third quarter ending September 30, 2007, with a
73
% jump in its Y-on-Y profits for the quarter.
Megasoft acquired NASDAQ listed bcgi during the
quarter, giving its telecom business a great
momentum and access to tier 1 operators.
XIUS, its telecom division, appointed Alejandro
Pacheco as Director Sales for the Latin American
region and Parvis Ansary as VP Sales for the
Middle East and Africa regions. XIUS also
launched the world’s first billing solution on
the latest Oracle Enterprise Linux 4 to enable
lower costs and superior uninterrupted services
to operators.
Telecom revenues for the quarter have grown by
73% to 39.75 crores from 23.03 crores last year.
BlueAlly, the new SBU focusing on Product
Lifecycle Management (PLM) has built a strong
pipeline of orders in the American market.
Commenting on the results, Mr. GV Kumar,
Managing Director & CEO, Megasoft Ltd.,
said, “Our performance in the quarter
reflects the rapid transformation of our telecom
products business into a hosted ASP model, with
more than 65% of revenues now coming form long
term contracts with predictable revenue streams.
We are into a strategic restructuring process
within the company, which will enable us to
target our focus markets even better in the
coming quarters, thus delivering better
value for all stakeholders.
"Even though Megasoft has consistently
demonstrated strong performance, we believe that
the stock is undervalued. With firm contracts in
the bag and a strong pipeline, we remain upbeat
about our accelerated revenue & profit growth
and believe that the strong financial results in
this and the expected robust performance in the
coming quarters should result in a positive
re-rating"
added Mr. Kumar. |
