Subex Ltd’s FY 13 Q2 Revenue at US$ 14.3 million (Rs 780.4 million)

Bangalore, INDIA – Subex Ltd, a leading global provider of Business Support Systems (B/OSS) for Communications Service Providers, today announced its financial results for the second quarter ended September 30, 2012.

Performance Highlights for the quarter ended September 30, 2012

• Revenues for the quarter at US$ 14.3 million (Rs 780.4 million)
  • Down 4.8% QoQ from US$ 15.1 million (Rs 819.8 million)
  • License & implementation at 43%, Managed services & Support at 46% and services at 11% of the total revenues
• Operating Profit / (Loss) for the quarter at US$ (-)1.3 million (Rs (-) 71.8 million)
  • Down from operating profit / (loss) of US $ 0.7 million ( Rs 39.1million)
  • Forex loss for the quarter US$ 2.1 million Rs 113.3 million as compared to forex gain of US$ 1.1 million Rs 58.3 million for the previous quarter
• Proforma Operating Profit /(Loss) ex forex for the quarter at US $ 0.8 million ( Rs 41.5 million)
  • Up from operating profit/ (loss) of US$ (-) 0.4 million ( Rs (-) 19.2 million)
• Finance Costs for the quarter at US $ 2.4 million ( Rs 131.4 million ) as compared to US$ 1.5 million ( Rs 80.9 million ) in previous quarter due to higher FCCB interest
• Net Profit / (Loss) for the quarter at US$ (-)11.2 million (Rs (-)609.6 million)
  • Down from net profit / (loss) of US$ (-) 0.9 million (Rs (-) 50.9 million)
  • Exceptional items for the quarter of US$ 7.3 million (Rs 399.7 million) include one- time accounts receivables provision of US$ 5.3 million Rs 307.0 million and US $ 1.7 million (Rs 92.7 million) of goodwill impairment pertaining to the services business
• Proforma Net Profit / (Loss) ex forex adjusted for Exceptional items is at US$ (-) 1.8 million (Rs (-)96.6 million) for the quarter as compared to loss of US $ (-) 2.0 million ( Rs (-)109.2 million)

Outlook for FY 13 : Overall revenues likely to be ~ USD $ 65-66 million with full year EBITDA of ~ 25%