Welcome!

@CloudExpo Authors: Liz McMillan, Zakia Bouachraoui, Yeshim Deniz, Pat Romanski, Elizabeth White

News Feed Item

Persistent Systems Revenue Grows 14.7% and PAT Grows 35% Y-o-Y

PUNE, INDIA -- (Marketwire) -- 01/27/13 -- Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT), the global leader in software product and technology services, today announced the Company's audited financial results for the third quarter ended December 31, 2012, as approved by the Board of Directors.

"We continue to see growth in Product Engineering Services which grew steadily quarter on quarter, reaffirming that our core business continues to be strong," said Dr. Anand Deshpande, Chairman and Managing Director, Persistent Systems. "We have strengthened and expanded our partnership with Dassault Systèmes and with our most recent acquisition of NovaQuest, we are extending PLM business across new industry verticals. IP revenue continues to grow steadily and we see tremendous business opportunities across all our focus areas in cloud computing, collaboration, analytics and mobility."

Key Highlights:

  • Revenue for nine months ended December 31, 2012 was US$ 175.71 Million, representing a Y-o-Y growth of 14.7%.
  • Profit after Tax (PAT) for nine months ended December 31, 2012 was 1,357.33 Million, representing a Y-o-Y growth of 35%.
  • IP-led business constitutes 17.1% of the revenue for nine months ended December 31, 2012.
  • Utilization improved Q-o-Q by 1.8% to 79.5%.
  • Acquired Novaquest, a Product Lifecycle Management (PLM) and Search Based technology solutions company thereby entering into a strategic partnership with Dassault Systèmes to sell and offer support, maintenance and deployment services as an authorized VAR for Dassault Systèmes' in the United States.
  • Declared an interim dividend of 6 per share (Payout ratio 20.55%) for the Financial Year
    2012-13, as against a total dividend of 6 per share (Payout ratio 19.67%) for the Financial Year 2011-12.

Other Highlights:

  • Appointed Dr. Sridhar Jagannathan as the Chief Innovation Officer responsible for driving innovation in products, solutions and services.
  • Delivered an innovative acceleration process enabling Voltage Security®, to provide solution upgrades and security alerts to their customers in record time.
  • Unveiled "The Modern Enterprise App Development Lifecycle" a new enterprise application at the E2 Innovate 2012 Conference.
  • Expanded presence in Australia by establishing an office in Sydney.

Awards and Recognitions:

  • Won the Tata Institute of Social Sciences LeapVault CLO Award for Best Corporate University in the "Emerging" category for Persistent Systems' Learning & Development Practices.
  • Won the Indian Human Capital Awards 2012 - Best CSR Strategy.
  • Won the Institute of Chartered Accountants of India (ICAI), silver shield Award for Excellence in Financial Reporting.
  • Ranked 3rd in India and 8th Globally on the Corporate Governance Practices for 2012 by
    IR Global Rankings (IRGR).
  • Won the Asset - Gold Award for Corporate Governance, Social Responsibility and Investor Relations 2012.
  • Won the Legal Counsel India Awards 2013 for Best Use of Technology and Innovation by a Legal Department.

About Persistent Systems:

Established in 1990, Persistent Systems (BOMBAY: PERSISTENT) (NSE: PERSISTENT) is a global company specializing in software product and technology services. For more than two decades, Persistent has been an innovation partner for the world's largest technology brands, leading enterprises and pioneering start-ups. With a global team of more than 6,000 employees, Persistent has 300 customers spread across North America, Europe, and Asia. Today, Persistent focuses on developing best-in-class solutions in four key next-generation technology areas: Cloud Computing, Mobility, Analytics and Collaboration, for telecommunications, life sciences, consumer packaged goods, banking & financial services and healthcare verticals. For more information, please visit: http://www.persistentsys.com.

Forward-looking and Cautionary Statements: For risks and uncertainties relating to forward-looking statements, please visit:
www.persistentsys.com/Portals/0/forward_looking_cautionary_statement.shtml.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Media Contacts:

Rashmi Joshi
Persistent Systems Ltd.
Tel: 91 83083 39400
Email: Email Contact

Nikhil Arora
Text100 Public Relations for Persistent Systems Ltd.
Tel: +91 98921 58923
Email: Email Contact

Ilona Mohacsi
PenVine for Persistent Systems Ltd.
Tel: +1 631 764 3729
Email: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

CloudEXPO Stories
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will detail these pain points and explain how cloud can address them.
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-centric compute for the most data-intensive applications. Hyperconverged systems already in place can be revitalized with vendor-agnostic, PCIe-deployed, disaggregated approach to composable, maximizing the value of previous investments.
When building large, cloud-based applications that operate at a high scale, it's important to maintain a high availability and resilience to failures. In order to do that, you must be tolerant of failures, even in light of failures in other areas of your application. "Fly two mistakes high" is an old adage in the radio control airplane hobby. It means, fly high enough so that if you make a mistake, you can continue flying with room to still make mistakes. In his session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed how this same philosophy can be applied to highly scaled applications, and can dramatically increase your resilience to failure.
Machine learning has taken residence at our cities' cores and now we can finally have "smart cities." Cities are a collection of buildings made to provide the structure and safety necessary for people to function, create and survive. Buildings are a pool of ever-changing performance data from large automated systems such as heating and cooling to the people that live and work within them. Through machine learning, buildings can optimize performance, reduce costs, and improve occupant comfort by sharing information within the building and with outside city infrastructure via real time shared cloud capabilities.
As Cybric's Chief Technology Officer, Mike D. Kail is responsible for the strategic vision and technical direction of the platform. Prior to founding Cybric, Mike was Yahoo's CIO and SVP of Infrastructure, where he led the IT and Data Center functions for the company. He has more than 24 years of IT Operations experience with a focus on highly-scalable architectures.