Geometric Limited (BSE: 532312, NSE: GEOMETRIC) a leader in Product Lifecycle Management (PLM) services and technologies, today announced that the company’s Q1 FY 2008-09 revenues from consolidated operations grew to Rs 1,404.41 million from Rs 1,264.68 million in Q4 2008, a QoQ rise of 11% and a YoY rise of 24.4%. In US Dollar terms, the revenue grew by 4.8% sequentially and 19.7% over the corresponding quarter of the previous year.
The company’s operating profit was Rs 70.77 million, as compared to Rs 3.64 million for the same quarter last year; while the profit after tax (after extraordinary item) was Rs 161.88 million as against Rs 116.54 million for the corresponding quarter of the previous year.
Commenting on the results, Dr. Ravi Gopinath, MD and CEO, Geometric Limited said, “We have had a positive first quarter with good revenue growth driven by the success of our changed go-to-market strategy, in spite of a significant slowdown in our main markets. Our contribution margins have increased, enabled by continuing improvements in operating efficiencies, billed realization and a favorable exchange rate. The impact of our focus on the European market is seen in an increase in its contribution to revenues by 3 percentage points.”
Business Highlights
n 20 new customers were added and new business worth USD 12.81 million was closed in the quarter n Total number of clients increased from 122 to 133 n Geometric was inducted into the John Deere Supplier Hall of Fame, an accolade given after achieving Partner-level status for five consecutive years
Key Wins
n A product engineering contract from an American automotive major to support its China requirements n A strategic engagement to support product enhancement for one of the world’s leading metrology companies, including setting up of a Metrology Center of Excellence in India n PLM implementation project for one of the world’s leading fashion and luxury goods companies, indicating success in diversification of the PLM solutions portfolio n A multi-million dollar PLM production support project for a global automotive major n Product development and services engagement with one of the world’s leading suppliers of Manufacturing Operations software
Products
n Launched 3DPaintBrush, a design tool that produces photo-realistic rendering quality for 3D assets, in real time n DFMPro, a design for manufacturability product, was awarded Solutions Partner status by SolidWorks. Launched DFMPro for Pro/Engineer
About Geometric
Geometric is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services and Digital Technology solutions for Product Lifecycle Management (PLM) enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.
Headquartered in Mumbai, India, Geometric was incorporated in 1994 and is listed on the Bombay and National Stock Exchanges. The company recorded consolidated revenues of Rupees 4.86 billion (US Dollars 121.6 million) for the year ended March 2008. It employs close to 3000 people across 10 global delivery locations in the US, France, Romania, India, and China. Geometric is assessed at SEI CMMI Level 5 for its software services and ISO 9001:2000 certified for engineering operations.
