Subex Ltd. announces FY13 Q1 results
BANGALORE, INDIA – Subex Ltd, a leading global provider of Business Support Systems (B/OSS) for Communications Service Providers, announced today that it has recorded Net Income from Operations at Rs. 819.75 mln (USD $ 15.12 mln) for the first quarter of FY13. Net loss (before exceptional items and taxes) stood at Rs. 39.40 mln (USD $ 0.73 mln) as compared to profit of Rs. 148.30 mln (USD $ 2.74 mln) in FY12 Q1.
The Net Consolidated Income from Product and Product related Operations for the company stood at Rs. 708.64 mln (USD $ 13.07 mln) contributing to 86.45% of the consolidated revenue. The company posted a Product EBITDA of Rs.57.84 mln (USD $ 1.07 mln) while the Consolidated EBITDA for the period stood at Rs. 54.02 mln (USD $ 1.00 mln) compared to Rs. 272.36 mln (USD $ 5.02 mln) in Q1 of FY 2012.
Commenting on the business, Subash Menon, Founder, Managing Director and CEO, said, “While the business climate is definitely quite tough with strong head winds in Europe and the telecom industry experiencing bad times, we are confident of maintaining our leadership position in the Business Optimisation space. Our current quarter results have been impacted by the change in revenue recognition and this will get evened out during the year. This change was essential to be in line with the changes in our revenue model.”
In the recent past, leading analyst firm Gartner ranked Subex as the market leader in the Revenue Assurance and Fraud Management for the second year in succession while Analysys Mason declared Subex the market leader in Business Optimisation for an unprecedented fifth year in succession.