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Hexaware Technologies Quarterly Report Q4 ’09

http://www.hexaware.com/fileadd/q4-09.pdf

Financial Highlights
Financial year ended December 31, 2009 Revenue from operations stood at Rs. 10,386 mn ($ 214.7 mn)
o Y-o-Y decrease of 9.8% in INR terms and Y-o-Y decrease of 18.3% in $ terms Net Profit after Tax at Rs. 1,342 mn ($ 27.9 mn)
o Y-o-Y increase of 127.5% in INR terms and Y-o-Y increase of 107.4 % in $ terms Days sales outstanding (DSO) improved from 63 days last year to 56 days in Q4 ?09 Total headcount stood at 5,137 at the end of the year 35 new clients added during the year 157 active clients; 4 clients billed more than $10 million during the year
Fourth Quarter ended December 31, 2009 Hexaware met revenue guidance with revenues of Rs. 2,520 mn ($ 54 mn)
o Q-o-Q decrease of 4.2% in INR terms and Q-o-Q decrease of 0.9% in $ terms Net Profit after Tax was Rs. 360 mn ($7.7 mn)
o Q-o-Q decrease of 12.8% in INR terms and Q-o-Q decrease of 9.4% in $ terms Gross Margin stood at 43.1% and PAT margin was at 14.3% Cash & Cash Equivalents increased to Rs. 4,262 mn ($ 91.6 mn), an increase of Rs. 243 mn ($8.1 mn) over the last quarter 7 new clients added during the quarter of which 5 are Fortune 500 corporations; 157 active clients Days sales outstanding (DSO) further improved to 56 days Global headcount stood at 5,137; up by 131 from 5,006 last quarter


Operational Updates The quarter witnessed an addition of 7 new clients. In terms of verticals, 3 clients were added in Banking Financial Services and Insurance (BFSI), 2 clients in Travel, Transportation, Hospitality and Logistics (TTHL) and 2 clients in Emerging Verticals. The total number of active clients stood at 157.
In terms of the horizontal service offerings, 1 client was added in Remote Infrastructure Management Services (Remote IMS), 1 client in Enterprise Solutions, 2 in Business Intelligence/ Business Analytics (BI/BA), 1 in Quality Assurance and Testing Services.

The Company also signed two outsourcing deals this quarter offering services which encompass multiple horizontal service lines.
Of the 7 clients added, 4 customers were based in North America and 3 in APAC. 67.3% of revenues came from North America, with the European share at 26.8% and the balance 5.9% coming from the rest of the world.
The number of clients registering $1mn+ in revenues stood at 47, with 39 clients in the $1 - $5 mn category, 4 clients are in the $5 - $10 mn range and 4 clients billed over $10 mn each – on a trailing 12 months basis.
In the month of November 2009, Hexaware conducted its exclusive customer meet “Ojas”. The meet was well attended and acknowledged by our customers. In addition to providing a forum for knowledge sharing, corporate networking and relationship strengthening, this meet emphasized Hexaware?s positioning in the market place.