Geometric reports 85% revenue growth in Q2

MUMBAI: Geometric Software Solutions Co. Ltd. has reported a net profit of Rs
3.1 crore for the quarter ended September 2001, as against a loss of Rs 1.3
crore for the corresponding quarter last year. Revenue for the second quarter
grew by 85%, to Rs 17.2 crore, up from Rs 9.3 crore for the corresponding period
last year.

The company also achieved a sequential growth of 39% in net profit (Rs 3.1
crore for the quarter ended September 2001, as against a net profit of Rs 2.2
crore for quarter ended June 2001).

Manu Parpia, managing director, said, "The results reflect Geometric’s
success in implementing its strategy of diversifying into areas related to our
core geometry expertise."

In October last year, the company had announced the formation of new business
units, namely Information Management and Collaborative Engineering, both of
which leverage their traditional CAD/CAM/CAE software development expertise, to
offer comprehensive solutions for the manufacturing industry. Since then the
company has achieved a consistent growth in profitability over the last four
quarters.

"We believe our strong relationship with our key customers will continue
to bring predictability of earnings," Parpia said. Geometric’s leading
customers include Spatial Corporation, SolidWorks, EDS PLM (formerly SDRC and
UGS), MSC and AutoDesk.

The Geometry Business unit won a significant turnkey software development
order for a leading manufacturer of orthodontic solutions. Information
Management successfully implemented a custom, enterprise-wide project management
system using a MatrixOne solution, for a leading construction company in
Singapore. The Collaborative Engineering Business unit is working on a project
for an aerospace major, centered around its CollabView technology, a Java-based
3D viewing engine.