CTE Press Releases

Cambridge Technology Enterprises Limited (CTEL) Q2 revenues at Rs. 166.05 Mn

November 15, 2010, Hyderabad, India:Cambridge Technology Enterprises Limited (CTE), a global IT services provider, today announced its financial results for the second quarter ended 30th September, 2010.

Consolidated Results for the 2nd Quarter ended 30th September, 2010
CTEL has achieved a turnover of Rs. 166.05 Mn for the quarter ended 30th September, 2010, as against a turnover of Rs. 153.80 Mn in the same quarter of the previous year. The Company posted an operating profit of Rs. 15.56 Mn for the quarter ended 30th September, 2010 versus a loss of Rs. 6.37 Mn recorded in the quarter ended 30th September, 2010.
Consolidated financials include financials of Cambridge Technology Enterprises – Mauritius Limited (CTEML), a wholly owned subsidiary of the Company.

Standalone Results for the 2nd Quarter ended 30th September, 2010
CTEL has achieved a turnover of Rs. 84.63 Mn for the quarter ended 30th September, 2010, as against a turnover of Rs. 106.71 Mn in the same quarter last year. The Company posted an operating profit of Rs. 41.97 Mn for the year quarter ended 30th September, 2010 versus a loss of Rs. 3.52 Mn recorded in the quarter ended 30th September, 2009.

Other Highlights
CTE is transforming itself to best serve customer demand.  With the acquisition of smartShift Gmbh and Vox Holdings, Inc., through CTEML, CTE is well positioned to be a dominant player in the rapidly growing cloud computing market. Along with smartShift tools for transformation, modernization and upgrades, CTE is establishing itself as a leading player in a market expected to exceed $150B USD in the calendar year 2013. With CTE's cloud offerings and smartShift’s toolset, CTE expects higher revenues, while improving operating efficiencies in the future. CTE's recent Business Transformation and cloud-based Application/Infrastructure Management wins at marquee companies, including several Fortune 500 organizations, have reflected this growth.

About Cambridge Technology Enterprises

CTE is a global business and technology services company. Recognized as a thought leader and innovator of enterprise modernization services, CTE solutions improve business performance and provide clients with a compelling competitive advantage. CTE services include IT Modernization, Application and Infrastructure Managed Services and Business Process Outsourcing. CTE customers are major global commercial and government organizations such Vodafone, AIG, Pfizer, State Bank of India and US government agencies. CTE leverages world-class talent, proven tools and methodologies and global development centers to provide highly innovative and competitive solutions.

For more information, please visit www.ctepl.com, or e-mail us at info@ctepl.com.