Subex Ltd’s FY13 Q3 Revenue at US$ 16.6 million (Rs. 906 million)

Bangalore, INDIA Subex Ltd, a leading global provider of Business Support Systems (BSS) for Communications Service Providers, today announced its financial results for the third quarter ended December 31, 2012.

Performance Highlights for the quarter ended December 31, 2012

  • Revenues for the quarter at US$ 16.6 million (Rs. 906 million)
    • Up 16% QoQ from US$ 14.3 million (Rs. 780.4 million)
    • License & Implementation at 48%, Managed Services & Support at 49% and Services at 3% of the total revenues
  • Operating Profit for the quarter at US$ 4.13 million (Rs. 227.6 million)
    • Up from operating loss of US $ (-)1.33 million ( Rs. (-)73.4 million)
    • Forex gain for the quarter at US $ 0.6 million (Rs. 35.2 million) as compared to forex loss of US $ (-)2.1 million (Rs. (-) 114.9 million) for the previous quarter
  • Proforma Operating Profit ex-forex for the quarter up by 338% at US $ 3.5 million ( Rs. 192.5 million)
    • Up from operating profit of US$ 0.8 million (Rs. 41.5 million)
  • Finance Costs for the quarter at US $ 2.7 million ( Rs. 144.5 million ) as compared to US$ 2.4 million ( Rs. 131.4 million ) in previous quarter due to higher FCCB interest
  • Net Profit for the quarter up by 113% at US$ 1.4 million ( Rs. 76.8 million)
    • Up by 113% from net loss of US $(-) 11.2 million (Rs. (-) 609.6 million)

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

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%

Subex Ltd. announces FY13 Q1 results

BANGALORE, INDIASubex 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.

Subex Ltd. announces FY12 results

Mumbai,India – 

Year ended 31 March 2012 – Key Highlights

  • Net Consolidated Income from Product and Product related Operations at Rs. 4404.56 mln up from Rs. 4281.61 mln in FY11
  • Net Profit (before exceptional items) at Rs. 866.27 mln up from Rs. 804.99 mln in FY11

Quarter ended 31 March 2012 – Key Highlights

  • Net Consolidated Income from Product and Product related Operations at Rs. 983.78 mln (USD $19.83 mln) as against Rs. 1035.18 mln (USD $20.87 mln) in FY11
  • Net Profit (before exceptional items) at Rs. 190.71 mln as against Rs. 231.46 mln in FY11

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 Consolidated Income from Product and Product related Operations at Rs. 4404.56 mln (USD $ 91.78 mln) for the year ended 31 March 2012 contributing to 90.11% of the consolidated revenue. Net Profit (before exceptional items) at Rs. 866.27 mln up from Rs. 804.99 mln in FY11.

The Net Consolidated Income from Operations stands at Rs. 1100.78 mln (USD 22.19 mln) for the fourth quarter of FY12 compared to Rs. 1184.62 mln (USD 23.88 mln) in FY11 Q4.

The company posted a Product EBITDA of Rs 288.51 mln (USD $5.82 mln) for FY12 Q4 while the Consolidated EBITDA for the period stood at Rs. 317.74 mln (USD $6.40 mln).

Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, “We have been successful in retaining our market leadership in BSS for the fourth year in a row. We are on track to successfully completing our FCCB restructuring thereby putting to rest all concerns regarding our financial stability”.

Subex Ltd. announces FY12 Q3 results EBITDA Grows 15% sequentially to Rs. 444 mln

Bangalore, INDIA Subex Ltd, a leading global provider of Business Support Systems (B/OSS) for Communications Service Providers, announced today that it has recorded strong growth and profitability for its Product Business (Business Optimisation or RMS). The company has recorded Net Consolidated Revenue of Rs. 1328.69 mln (USD 26.05 mln) for the third quarter of FY12 up from Rs. 1267.72 mln (USD 24.86 mln) in FY11 Q3. The Order Intake for the Continuing Product Business grew 15.5% at US $ 23.1 mln up from US $ 20 mln in FY11 Q3. Net Profit (before exceptional items) grew at Rs. 285.38 mln (USD 5.60 mln) up from Rs. 240.41 mln (USD 4.71 mln) in FY11 Q3.

The Product Revenue for the company stood at Rs. 1187.29 mln (USD 23.28 mln) contributing to 89.36 % of the consolidated revenue. The company posted a Product EBITDA of Rs 439.76 mln (USD 8.02 mln) while the Consolidated EBITDA for the period stood at Rs. 443.83 mln (USD 8.70 mln) as compared to Rs. 386.63 mln (USD 7.58 mln) in Q3 of FY 2011.

Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, “We are extremely happy that the results for this quarter have turned out to be as promising as expected. We continue to have a good market share in Business Optimisation space and the increasing uptake for our industry leading Revenue Operations Center (ROC®) and Managed Services offering is proof of the same. Our Product EBITDA stood at Rs. Rs 439.76 mln (USD 8.02 mln) and we expect this to grow in the coming quarter”.

Subex Ltd. Core Business Order Intake grows 63.12 % at US $ 23 mln Net Profit grows 424.46%

Bangalore, INDIA – Subex Ltd, a leading global provider of Operations and Business Support Systems (OSS/BSS) for Communications Service Providers, announced today that it has recorded Net Consolidated Revenue of Rs. 1169.51 mln for the first quarter of FY12. The Order Intake for RMS, the core business of the company, grew 63.12% at US $ 23 mln up from US $ 14.1 mln in FY11 Q1. Net Profit grew 424.46% at Rs. 132.27 mln up from Rs. 25.22 mln in FY11 Q1.

The Product Revenue for the company stood at Rs. 1055.75 mln contributing to 90.27 % of the consolidated revenue. The company posted a Product EBITDA of Rs. 286.03 mln while the Consolidated EBITDA for the period stood at Rs. 271.95 mln as compared to 325.81 mln in Q1 of FY 2011.

Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, “The beginning of the financial year has been promising as we continue to witness increased traction of our industry leading Revenue Operations Center (ROC®) and Managed Services offering. This is evident in the significant increase in our order intake in our core business, RMS, from US $ 23 mln in FY12 Q1 up from US $ 14.1 mln in FY11 Q1.”

About Subex Limited
Subex Limited is a leading global provider of Operations and Business Support Systems (OSS/BSS) that empowers communications service providers (CSPs) to achieve competitive advantage through Business Optimisation and Service Agility – 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 enable new service creation, operational transformation, subscriber-centric fulfilment, provisioning automation, data integrity management, revenue assurance, cost management, fraud management and interconnect / inter-party settlement. Subex also offers a scalable Managed Services program and has been the market leader in Business optimization for three consecutive years.

Subex’s customers include 16 of top 20 wireless operators worldwide* and 26 of the world’s 50 biggest# telecommunications service providers.

The company has more than 300 installations across 70 countries.

*RCR Wireless list, 2010
#Forbes’ Global 2000 list, 2010

Subex Ltd Net Profit grows 302.54%, EBITDA grows 48.98%

Bangalore, INDIA – Subex Ltd a leading global provider of Operations and Business Support Systems (OSS/BSS) for Communications Service Providers, announced today that it has recorded product revenue of Rs. 4279.61 mln for the year ended 31 March 2011. The Net Profit (before exceptional items) for the same period stood at Rs. 838.26 mln up by 302.54%.

Year on year growth of EBITDA has been significant. The company EBITDA for FY11 stood at Rs. 1411.17 mln, up by 48.98% from FY10, and the product EBITDA stood at Rs. 1400.18 mln, up by 48.47%.

Commenting on the business, Subash Menon, Founder Chairman, Managing Director and CEO, said, “We end this year on an extremely positive note. We are significantly profitable once again owing to the increased traction of our Revenue Operations Centre (ROC®) and multi-million dollar customer wins for our Managed Services offering globally. We are confident that we will continue to sustain this growth both in terms of revenue and profit”.

He further added, “The changing nature of our contracts has led to deeper relationships with our customers and better visibility and stability. We are confident of much better times ahead.”

Press & Analyst Contact

Sandeep Banga
E-mail : sandeep.banga@subex.com
Mobile : +91-9916824122