QII-07 revenues grow sequentially by 14.2%: Aztecsoft

RELATED NEWS Aztecsoft Q2 net up 24.05% at Rs 11.5cr Aztecsoft up on buying interest Aztecsoft seen posting double-digit growth in profits Aztecsoft Q2 net seen up 21.35% at 11.25cr ALSO READ See latest News about Aztecsoft See previous management interviews See what other Experts & Brokerages are saying about Aztecsoft Aztecsoft BSE | NSE 01/01/70 Are Mutual Funds betting on Aztecsoft?

Accolades

 

Data Quest-IDC "BEST EMPLOYERS AWARD 2006   - Aztecsoft is the 7th Best Employer in the DQ "Best Employer Survey". With this the organization joins the league of coveted employers. The Survey also puts Aztecsoft attrition rate at the lowest amongst the Top 20 Companies selected.

 

Mircrosoft's open source document format - Microsoft announces Office Open Document format, partnered by Aztecsoft so its Office suite will support the Open Document Format (ODF) standard

 

Announcing the second quarter's financial results, Mr. K. B. Chandrasekhar, Chairman of Aztecsoft said, "I am extremely pleased with the achievement of Company's all time high revenues and profits. This has been possible through some great client acquisitions, superior execution, and increased profitability. Our overall business outlook continues to be positive and we continue to invest for future growth."

 

Transfer of Dendrite ODC - Dendrite International, Inc. (Dendrite) ( www.dendrite.com ) a customer of Aztecsoft, has exercised the option to acquire its Off Shore Development Center located in Bangalore. The transfer is currently scheduled to be effective from Jan 1, 2007.

 

Dendrite commissioned Aztecsoft to build and operate a segregated and dedicated ODC to provide Dendrite with technical operations and software development services. At the time of the proposed transfer, Aztecsoft and Dendrite will have successfully partnered on the ODC operations for over 3 years.

 

The ODC will be around 10% of Aztecsoft's revenue and a lower percentage of its profits. The transfer is not expected to significantly affect Aztecsoft's future growth and profitability.  

 

  "Aztec has been a trusted partner of Dendrite since 2003," said Garry D. Johnson, global chief technology officer of Dendrite. "The strong working relationship we developed on the ODC operations has contributed to our success in growing our technology and BPO capabilities. We would not hesitate to consider Aztecsoft for future engagements should the need arise."

 

V Chandrasekaran, Managing Director and CEO of Aztecsoft said "Our partnership with Dendrite is an unqualified success and this transition is a natural next step which is in our mutual interest. We are looking forward to building on this foundation of trust for other areas of engagement.

 

The business outlook for Aztecsoft continues to be strong and we believe that this transfer does not materially affect in any way the current size and projected growth of Aztecsoft's core software product lifecycle services business. Considering the strong business outlook, which saw the addition of a record 29 new clients and 625+ people the first half of this fiscal year, this transfer is not expected to have any significant impact on the growth and net profits in the next 12 months." 

 

Sourced From: Aztecsoft Limited