Subex announces FY13 Results

BANGALORE, INDIA – Subex Ltd, a leading global provider of Business Support Systems (BSS) for Communications Service Providers, today announced its financial results for the fourth quarter ended March 31, 2013.

Performance Highlights for the quarter ended March 31, 2013

• EBIDTA for the quarter at US$ 3.8 million (Rs. 205 million) and for the year is US$ 8.6 million (Rs. 460.3 million)
  • Up by 1.6% QoQ from US$ 3.7 million (Rs. 202 million)
• Proforma Operating Profit ex-forex for the quarter at US$ 3.61 million (Rs. 195.7 million) and for the year at US$ 7.8 million (Rs. 418 million)
  • Up by 2.2% QoQ from US$ 3.5 million (Rs. 192.50 million)
• Revenues for the quarter at US$ 14.73 million (Rs. 799.60 million)
  • Down by 11.74% QoQ from US$ 16.06 million (Rs. 906 million)
  • License & Implementation at 44.56%, Managed Services & Support at 54.98% and Services at 0.46% of the total revenues
• Revenues for the year (FY13) at US$ 60.86 million (Rs. 3,305.80 million)
  • Down by 30.82% YoY from US$ 88.02 million (Rs. 4,778.30 million)
  • License & Implementation at 43%, Managed Services & Support at 50% and Services at 7% of the total revenues
• Operating Profit for the quarter at US$ 2.8 million (Rs. 151.70 million) and for the year at US$ 6.4 million (Rs. 351 million)
  • Down by 46.4% QoQ operating profit from US$ 4.19 million (Rs. 227.7 million)
  • Forex loss for the quarter at US$ -0.81 million (Rs. -44.10 million) as compared to forex gain of US$ 0.65 million (Rs. 35.20 million) for the previous quarter
• Finance Costs for the quarter at US$ 3.02 million ( Rs. 164.20 million ) as compared to US$ 2.7 million ( Rs. 144.50 million ) in previous quarter due to higher interest on short term borrowing

Surjeet Singh, CEO & MD, Subex Limited said, “We have successfully maintained our market leadership in Revenue Assurance and Fraud Management accordingly to leading analyst firm Gartner* for the third year in a row. Our recently launched solution ROC Asset Assurance is also gaining momentum and has been awarded the prestigious Pipeline Innovation Award 2013#. These industry recognitions are a testimony of our sustained focus on product innovation and on strategic growth areas such as ROC Asset Assurance and Managed Services, and we will strive hard to continue to invest in improving our solutions to meet the dynamic needs of the telecom industry.”

* Gartner, “Market Share: Telecom Operations Management Systems (BSS, OSS and SDP), Worldwide, 2011-2012”  Martina Kurth, Norbert J. Scholz, Kamlesh Bhatia, 26 March 2013

#Subex’s ROC Asset Assurance solution is awarded runners-up in the 2013 Pipeline Innovations Awards 2013 (COMET 2013) in the Big Data and Analytics category.

About Subex Limited
Subex Limited is a leading global provider of Business Support Systems (BSS) that empowers communications service providers (CSPs) to achieve competitive advantage through Business Optimisation – thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.

The company pioneered the concept of a Revenue Operations Center (ROC^®) – a centralized approach that sustains profitable growth and financial health through coordinated operational control. Subex’s product portfolio powers the ROC and its best-in-class solutions such as revenue assurance, fraud management, credit risk management, cost management, route optimization, data integrity management and interconnect / inter-party settlement.

Subex also offers a scalable Managed Services program and has been the market leader in Revenue Assurance and Fraud Management according to Gartner (2010 & 2011). Subex has also been enjoying market leadership in Business Optimisation for five consecutive years according to Analysys Mason (2007, 2008, 2009, 2010 & 2011). Subex has been awarded the Global Telecoms Business Innovation Award for 2011 along with Swisscom for industry’s first successful Risk Reward Share model for fraud management.

Subex’s customers include 28 of top 50 operators* and 33 of the world’s 50 biggest# telecommunications service providers worldwide. The company has more than 300 installations across 70 countries.

*GTB Carrier Guide, 2011
#Forbes’ Global 2000 list, 2011