Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Top Links You Must Click On


IBS Group Reports Operating Results for the Second Quarter and Six Months Ended September 30, 2012

RAMSEY, the Isle of Man, November 29, 2012 /PRNewswire/ --

Please refer to the relevant legal information at the end of this document

IBS Group Holding Limited (IBSG:GR; IBSGq.DE), a leading software development and IT services provider in Central and Eastern Europe, today announced its preliminary unaudited operating results for the second quarter and six months ended September 30, 2012 (2Q and 1H FYE March 31, 2013) .

1H FYE March 31, 2013 highlights

  • Consolidated revenues totaled US$378.0 mn, a 6.0% increase y-o-y, driven by a pickup in activity in both segments.
  • Revenues in the IT Services segment increased by 1.8% in US$ terms and 12.4% in Russian ruble terms, whereas revenues in the Software Development segment saw a 13.5% increase in US$ terms.
  • Revenues generated in Europe and North America amounted to US$137.4 mn, and now account for 36.3% of consolidated Group revenues against 34% a year ago.
  • Total headcount rose to 8,372 employees, an increase of 7.1% y-o-y; mostly due to an increase of IT professionals in the Software Development segment.
  • Total debt amounted to US$67.4 mn, a decline of US$4.3 mn y-o-y; the net debt position didn't change significantly from the previous year.
  • Consolidated revenues growth guidance for FYE March 31, 2013 has been updated to be in the range of 9-13%.

Consolidated revenues by segment *

                                         2Q           1H    1H
                                        FYE          FYE   FYE
                               2Q FYE March        March March
                            March 31,   31, Change   31,   31, Change
    US$ mn                       2013  2012  y-o-y  2013  2012  y-o-y
 
    Consolidated revenues       212.6 180.0  18.1% 378.0 356.6   6.0%
    IT Services segment         122.3  97.7  25.2% 200.8 197.3   1.8%
    IT Services segment,                  2            6     5
    RUB mn                    3 876.9 997.0  29.4% 376.8 672.3  12.4%
    Software Development
    segment                      74.1  66.1  12.1% 145.1 127.9  13.5%
    Corporate,
    eliminations, and other      16.2  16.2     0%  32.1  31.4   2.2%


* Source: management accounts.

Consolidated revenues for the second quarter of FYE March 31, 2013 amounted to US$212.6 mn, an increase of 18.1% y-o-y driven by solid performance in both segments. Consolidated revenues for the first half of FYE March 31, 2013 came to US$378 mn, an increase of 6.0%   y-o-y.

IT Services segment revenues for the first half of FYE March 31, 2013 amounted to US$200.8 mn, representing an increase of 1.8% y-o-y. Ruble revenues for the same period totaled RUB 6,376.8 mn, up 12.4% y-o-y. OOO Borlas Group's revenues, disposed in February 2012, amounted US$18.9 mn in the first half of FYE March 31, 2012. Adjusted to account for the disposal of OOO Borlas Group, the segment's revenues in Russian rubles increased by 24.4% y-o-y in the first half of FYE March 31, 2013. The increased number of IT infrastructure projects was the key driver behind revenue growth in the segment during the reported period.

Software Development segment revenues during the first half of FYE March 31, 2013 rose to US$145.1 mn, an increase of 13.5% y-o-y. Automotive&transport and financial services verticals showed the fastest growth in the reported period. The segment's revenues in constant currency* increased by 17.5% and 19.6% y-o-y respectively in the second quarter and first half of FYE March 31, 2013.

* Constant currency revenues are calculated based on a weighted average of actual daily exchange rates for previous periods.

Consolidated revenues by geography *

                                  1H FYE   Share             Share   Change
                                   March      of    1H FYE      of       in
                                     31,   total March 31,   total absolute
    US$ mn                          2013 revenue      2012 revenue   result
    Revenues generated in Russia
    and the CIS                    240.6   63.7%     235.3   66.0%     2.3%
    Revenues generated in Europe    70.1   18.5%      64.1   18.0%     9.4%
    Revenues generated in North
    America                         67.3   17.8%      57.2   16.0%    17.7%


* Source: management accounts, customer geography determined based on the location of clients' key decision maker.

Revenues from Russian operations totaled US$240.6 mn, representing an increase of 2.3% y-o-y. During the same period, revenues generated in Europe totaled US$70.1 mn, an increase of 9.4% y-o-y, and now account for 18.5% of the Group's revenues. Revenues in North America rose to US$67.3 mn, up 17.7% y-o-y and now account for 17.8% of the Group's revenues. The progress in Europe and North America is attributable to business growth in the Software Development segment.

Headcount *

                         September September Change June 30,  Change
    Number of employees   30, 2012  30, 2011  y-o-y     2012   q-o-q
    Group headcount          8 372     7 817   7.1%    8 363    0.1%
    IT Services segment      2 456     2 560  -4.1%    2 526   -2.8%
    Software Development
    segment                  5 568     4 936  12.8%    5 528    0.7%
    Corporate and other        348       321   8.4%      309   12.6%


* Source: management accounts.

The Group's total headcount amounted to 8,372 employees, an increase of 7.1% y-o-y, mainly due to the expansion of delivery centers in the software development segment. In the IT Services segment, we disposed Expertek in July 2012 (former IT Services subsidiary focused on niche solutions for retail business) which further decreased the number of IT professionals q-o-q to 2,456. No significant change in the segment's number of employees is expected before the end of the fiscal year. In the Software Development segment, the number of employees amounted to 5,568, an increase of 12.8% y-o-y, we expect headcount to resume growth by the end of the fiscal year.

Debt *

                                                      June    Change
                        September September Change     30,
    US$ mn               30, 2012  30, 2011  y-o-y    2012     q-o-q
    Total debt               67.4      71.7   -4.3    62.4       5.0
    Current debt             45.8      48.0   -2.2    42.0       3.8
    Non-current debt         21.6      23.7   -2.1    20.4       1.2
    Net debt                 53.7      53.0    0.7    40.9      12.8


* Source: management accounts.

The Group's total debt decreased by US$4.3 mn y-o-y to US$67.4 mn. Over the last quarter the Group's debt position increased by US$5.0 mn, and the net debt position increased by US$12.8 mn - both are attributable to the short-term seasonal working capital financing of IT Services segment.

Full year revenues outlook

We have updated our outlook for the Group's consolidated revenues growth, which is now expected to be in the range of 9-13% in USD terms. In the IT Services segment revenues growth is expected to be in the range of 6-10% in US$ terms, and we add revenues growth outlook for the segment in ruble Russian terms to be in the range of 13-17%. In the Software Development segment we expect revenues growth to be in the range of 16-21% in US$ terms.

Anatoly Karachinsky, President of IBS Group commented,

"IBS Group has met its targets and performed according to expectations in the preliminary forecasts for the first half of the year. As such, we can view these results as positive. This year has brought robust growth in the IT Services segment. Turnover in rubles for the segment has grown by more than 24% y-o-y, after factoring in the disposal of part of the business last year. The growth in this segment mainly stems from our success in bringing new solutions to the Russian market during implementation of IT infrastructure projects, including cloud technologies and Big Data. The Software Development segment has also grown rapidly owing to our continuing success in financial and automotive verticals. Overall, the outcomes have been affected by the global economic instability, especially fluctuations in the currency markets.  This is reflected in our updated growth forecasts of 9-13% for the Group's turnover in the current financial year."

About IBS Group Holding Limited

IBS Group is a leading software development and IT services provider in Central and Eastern Europe. Through its two principal subsidiaries, Luxoft and IBS IT Services, it offers a wide variety of information technology services, such as software development and IT services outsourcing, IT infrastructure and business applications implementation. IBS Group has business operations in Russia, Ukraine, Romania, Poland, Germany, Switzerland, the UK, the USA, Vietnam and Singapore. IBS Group employs more than 8,300 people worldwide. In the year ended March 31, 2012, the Group reported US GAAP consolidated revenues of US$816.3 million. IBS Group's Global Depositary Receipts are listed on the Regulated Market (General Standard) at the Frankfurt Stock Exchange (Bloomberg: IBSG:GR; Reuters: IBSGq.F)

http://www.ibsgr.com

Disclaimer

The information contained in this release is not for publication, distribution or release, directly or indirectly, in the United States of America (including its territories and possessions, any states of the United States and the District of Columbia) or any other jurisdiction where such distribution is unlawful. Such release does not constitute an offer for the sale of securities in the United States of America, Canada, Australia, Japan or in any other jurisdiction in which an offer is subject to legal restrictions.

The information communicated in this document contains certain statements that are or may be projections or forward looking. These statements typically contain the words "anticipate", "believe", "intend", "estimate", "expect", "plan", "project" and words of similar meaning. By their nature, forward-looking statements are not statements of historical fact and reflect the current assessments, views, assumptions and beliefs made by the Company's management according to the information available at the time made about future events, operating performance, financial condition, business strategy, the Company's plans and objectives for future operations and the industry in which the Company operates. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors, any of which can lead to the actual results of operations, profitability, performance, profits or achievements of the Company to be materially different from the results of operations, profitability, performance, profits or achievements of the Company expressed or implied by these forward-looking statements. Factors that could cause the actual results to differ materially from those contained in projections or forward-looking statements of the Company may include, among others, general economic and competitive environment conditions in the markets in which the Company operates as well as many other risks affecting the Company and its operations. In view of these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements.

The Company undertakes no obligation to review, update, amend or revise any of its forward-looking statements, whether as a result of new information, future events or developments or otherwise, or to reflect actual results, changes in assumptions or changes in factors affecting these statements. There may be additional material risks that are currently not considered to be material or of which the Company and its advisors or representatives are unaware. All subsequent written and oral forward-looking statements attributable to the Company, and those acting on its behalf, are expressly qualified in their entirety by the foregoing.

About PR Newswire
Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Enterprise Open Source Magazine Latest Stories . . .
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefi...
The Eclipse IoT community is growing community of open source projects focused on providing the building blocks for the IoT industry. The goal of the community is to provide open source implementations of important IoT standards, frameworks that implement key services for IoT applicati...
In his session at 15th Cloud Expo, Mark Hinkle, Senior Director, Open Source Solutions at Citrix Systems Inc., will provide overview of the open source software that can be used to deploy and manage a cloud computing environment. He will include information on storage, networking(e.g.,...
StackIQ offers a comprehensive software suite that automates the deployment, provisioning, and management of Big Infrastructure. With StackIQ’s software, you can spin up fully configured big data clusters, quickly and consistently — from bare-metal up to the applications layer — and ma...
In a very real way, everything they do at iXsystems helps the cause of open source. From the engineers who write code they contribute back to FreeBSD, to the testers who give feedback on open source drivers back to vendors, to the marketers who travel around the world to promote FreeBS...
More and more Web sites and applications are being moved from Apache to nginx. While Apache is still the number one HTTP server with more than 60% on active Web sites, nginx has now taken over the 2nd place in the ranking and relegated Microsoft’s IIS to 3rd place. Among the top 10.000...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE