Persistent Systems Revenue Grows 14.7% and PAT Grows 35% Y-o-Y

Persistent Systems Revenue Grows 14.7% and PAT Grows 35% Y-o-Y 
PUNE, INDIA -- (Marketwire) -- 01/27/13 --  Persistent Systems
(BOMBAY: PERSISTENT) (NSE: PERSISTENT), the global leader in software
product and technology services, today announced the Company's
audited financial results for the third quarter ended December 31,
2012, as approved by the Board of Directors.  
"We continue to see growth in Product Engineering Services which grew
steadily quarter on quarter, reaffirming that our core business
continues to be strong," said Dr. Anand Deshpande, Chairman and
Managing Director, Persistent Systems. "We have strengthened and
expanded our partnership with Dassault Systemes and with our most
recent acquisition of NovaQuest, we are extending PLM business across
new industry verticals. IP revenue continues to grow steadily and we
see tremendous business opportunities across all our focus areas in
cloud computing, collaboration, analytics and mobility." 
Key Highlights: 


 
--  Revenue for nine months ended December 31, 2012 was US$ 175.71
    Million, representing a Y-o-Y growth of 14.7%.
--  Profit after Tax (PAT) for nine months ended December 31, 2012 was 
    1,357.33 Million, representing a Y-o-Y growth of 35%.
--  IP-led business constitutes 17.1% of the revenue for nine months ended
    December 31, 2012.
--  Utilization improved Q-o-Q by 1.8% to 79.5%.
--  Acquired Novaquest, a Product Lifecycle Management (PLM) and Search
    Based technology solutions company thereby entering into a strategic
    partnership with Dassault Systemes to sell and offer support,
    maintenance and deployment services as an authorized VAR for Dassault
    Systemes' in the United States.
--  Declared an interim dividend of  6 per share (Payout ratio 20.55%) for
    the Financial Year
     2012-13, as against a total dividend of  6 per
    share (Payout ratio 19.67%) for the Financial Year 2011-12.

  
Other Highlights: 


 
--  Appointed Dr. Sridhar Jagannathan as the Chief Innovation Officer
    responsible for driving innovation in products, solutions and
    services.
--  Delivered an innovative acceleration process enabling Voltage
    Security(R), to provide solution upgrades and security alerts to
    their customers in record
 time.
--  Unveiled "The Modern Enterprise App Development Lifecycle" a new
    enterprise application at the E2 Innovate 2012 Conference.
--  Expanded presence in Australia by establishing an office in Sydney.

  
Awards and Recognitions: 


 
--  Won the Tata Institute of Social Sciences LeapVault CLO Award for Best
    Corporate University in the "Emerging" category for Persistent
    Systems' Learning & Development Practices.
--  Won the Indian Human Capital Awards 2012 - Best CSR Strategy.
--  Won the Institute of Chartered Accountants of India (ICAI), silver
    shield Award for Excellence in Financial Reporting.
--  Ranked 3rd in India and 8th Globally on the Corporate Governance
    Practices for 2012 by
     IR Global Rankings (IRGR).
--  Won the Asset - Gold Award for Corporate Governance, Social
    Responsibility and Investor Relations 2012.
--  Won the Legal Counsel India Awards 2013 for Best Use of Technology and
    Innovation by a Legal Department.

  
About Persistent Systems: 
Established in 1990, Persistent Systems (BOMBAY: PERSISTENT) (NSE:
PERSISTENT) is a global company specializing in software product and
technology services. For more than two decades, Persistent has been
an innovation partner for the world's largest technology brands,
leading enterprises and pioneering start-ups. With a global team of
more than 6,000 employees, Persistent has 300 customers spread across
North America, Europe, and Asia. Today, Persistent focuses on
developing best-in-class solutions in four key next-generation
technology areas: Cloud Computing, Mobility, Analytics and
Collaboration, for telecommunications, life sciences, consumer
packaged goods, banking & financial services and healthcare
verticals. For more information, please visit:
http://www.persistentsys.com.  
Forward-looking and Cautionary Statements: For risks and
uncertainties relating to forward-looking statements, please visit:  
www.persistentsys.com/Portals/0/forward_looking_cautionary_statement.shtml. 
Media Contacts: 
Rashmi Joshi 
Persistent Systems Ltd. 
Tel: 91 83083 39400 
Email: rashmi_joshi@persistent.co.in  
Nikhil Arora 
Text100 Public Relations for Persistent Systems Ltd. 
Tel: +91 98921 58923 
Email: nikhil.arora@text100.co.in  
Ilona Mohacsi
PenVine for Persistent Systems Ltd. 
Tel: +1 631 764 3729
Email: ilona@penvine.com 
 
 
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