Sasken Communication Technologies Limited (BSE: 532663, NSE: SASKEN) today announced its consolidated results according to Indian GAAP for the first quarter ended June 30, 2008.

Key Financial Highlights for the quarter: Q1 FY 09
· Software services revenues grew 7 % Quarter on Quarter from Rs 139.4 crores in Q4 FY 08 to Rs 149.8 crores in Q1 FY 09 and 25% over the corresponding quarter in the previous financial year FY 08. Products revenues grew 3% to Rs 18.2 crores from the previous quarter and by 112% from Rs 8.7 crores in the corresponding quarter in the previous financial year and 3%.
· Consolidated EBIDTA margins were at 21.8%. Services EBIDTA margins for the quarter was at 20.9%. Products EBIDTA margins were at 39%.

· PAT margins for the quarter were at 8.2 % a decrease of 7% over Q4 FY 08 and an increase of 115% over the corresponding quarter in the previous financial year.

· Revenue contribution from the Top five customers stood at 72% and from Top 10 customers at 83%

· Average realized rate for the quarter Rs 42.11/- per US$

· The services business delivered an EPS of Rs 4.82/-

Key Business Highlights for the quarter Q1 FY 08

· A Gross total of 202 employees were added in Q1 FY09.

· Utilization on the services side stands at 76% for the quarter

· Onsite component of services revenues increased to 39% from 36% in the previous quarter. Royalty contribution to product revenues was at 16% as against 24% last quarter.

· 5 new customers added during the quarter taking the total of active customers to 86

Speaking on the results, Sasken CEO Mr. Rajiv Mody added “I am satisfied with the results given the challenging environment that we continue to face. We closed a very significant deal with a key tier 1 handset vendor in the last quarter. This deal enables us to service this tier 1 on their development platform.”

Commenting on the proposed Symbian foundation, Rajiv remarked “We believe that this will empower licensees of the Symbian platform to create more compelling converged devices and better customer experiences, while improving on economics and time to market”.

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