Nucleus Software reports First Quarter FY2014 Financial results

EAST OF KAILASH, India - July 23, 2013 - PRLog -- Nucleus Software Exports Limited (NSE- NUCLEUS, BSE- 531209), a leading global software product and solutions provider to the banking and financial services industry, has announced its financial results for the quarter ended 30th June, 2013. The revenue for the quarter rose to Rs.86.32 crore, a growth of 17 % from the corresponding quarter in the previous year.

Commenting on the first quarter FY2014 performance, Mr. Vishnu R. Dusad, CEO and Managing Director, Nucleus Software, said “Encouraged by the strong execution of our teams, we have commenced this financial year with growth in revenue and EBITDA. The product business performed in line with expectations.I amconfident that our transformational initiatives in operations and human resources will pay significant returns and will empowerthe company for long-term growth.”

Nucleus Software is making investments globally in strengthening its employee relationships while continuing to hire people in line with its growing business pipeline. In order to engage effectively with the global workforce, the company has embarked on a 360° Talent Management drive to build career differentiation opportunities for its people as well as rewarding talent. Furthermore, continuing to invest in growth, Nucleus Software’s technological advancements and domain-expertise combined with best delivery practices has ensured high quality services for over 150 global clients.

FOR THE QUARTER APRIL – JUNE 2013

Consolidated results for the quarter ended June 30, 2013

·        Revenue for the quarter stood at Rs. 86.32 crore from software products and solutions in comparison to Rs. 73.95 crore in the corresponding quarter of the previous year.

·        Product business revenue for the quarter was at Rs. 62.47 crore in comparison to Rs. 50.58 crore in the corresponding quarter of the previous year.

·        EBITDA for the quarter stood at Rs. 14.22 crore in comparison to Rs. 9.16 crore in the corresponding quarter of the previous year.

·        Net Profit after Tax (PAT) stood at Rs. 11.17 crore in comparison to Rs. 12.30 crore in the corresponding quarter of the previous year.

·        Earnings Per Share (EPS) for the quarter was reported at Rs. 3.45 in comparison to Rs. 3.80 in the corresponding quarter of the previous year.

LIQUIDITY

Cash and cash equivalents, including investments in debt schemes of mutual funds, fixed deposits with banksand tax free PSU bonds are atRs.284.23 croreas on June 30, 2013,as against Rs.222.80 crore as on June 30, 2012.

BUSINESS HIGHLIGHTS

For the first quarter ended 30^th June, 2013:

The company won 2 new productordersworldwide.
Nucleus Software completed a total of 10 product modules implementations of FinnOne^TM and Cash@Will^TM suite across Europe, South East Asia, Latin America, and Middle Eastregions.
With over 150 customers across the globe for the financial year ending FY2013, the company added a new customer in the first quarter of FY2014.

During Q1 FY2014, Nucleus Software also showcased its award winning products at leading international events in Frankfurt, Amsterdam and Malaysia.

About Nucleus Software Exports Limited:

Nucleus Software is a leading software powerhouse providing innovative and pioneering software solutions for Banks and Financial organizations globally. Nucleus Software offers a host of competitive IT solutions and consultancy services designed to support the whole spectrum of business offerings across retail banking, corporate banking, cards and cash management. With over 150 customers across the globe, the company is consistently innovating with cutting edge and industry driven products in the domain. Nucleus Software is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit www.nucleussoftware.com

FinnOne™, the flagship product of Nucleus Software, is a powerhouse of seamlessly integrated applications, designed to provide operational support, risk management and decision-making support to banks and financial services companies. The FinnOne™ suite provides solutions for the asset as well as liability sides of business in addition to account management, core financial accounting, risk management, document management, and customer services. FinnOne™ also supports multi-branch, multi-currency, multi-product and multi-lingual implementations. FinnOne™ focuses on both, retail and corporate loans, thereby emerging as a comprehensive solution to back any line of the lending business. Nucleus Software’s FinnOne^TMhas again been ranked as the Global No. 1 Lending Software solution for the fifth consecutive year by IBS Publishing, UK in their Sales League Table 2013 for banking product sales.

Media Contact:

Puneet Khunger

Puneet@gutenbergpr.com

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