Cambridge Technology reboots on US acquisition

Cambridge Technology Enterprises was locked at 5% upper limit at Rs 39.10 at 13:09 IST on BSE on reports the company has completed acquisition of US based CellExchange Inc for $15 million.

The stock hit a high of Rs 39.10 and a low of Rs 38 so far during the day. The stock had a 52-week high of Rs 100.90 on 2 January 2008 and a 52-week low of Rs 26.65 on 27 March 2008.

The company has an equity capital of Rs 15.82 crore. Face value per share is Rs 10.

The current price of Rs 39.10 discounts its Q3 December 2007 annualised EPS of Rs 4.50, by a PE multiple of 8.69.

CellExchange provides system integration information technology (IT) solutions for US Federal and US Department of Defense (DoD) customers.

As per reports, the acquisition will boost Cambridge Technology Enterprises (CTE)’s revenue run rate to approximately $40 million (Rs 160 crore).

CTE’s net profit rose 91.40% to Rs 1.78 crore on 23.70% increase in net sales to Rs 5.95 crore in Q3 December 2007 over Q2 September 2007.

The company is into software development. The group provides technology solutions for commercial customers throughout the United States and India.

==================================================================

Cambridge Solutions hardens on turnaround results

Cambridge Solutions jumped 16.18% to Rs 56 at 9:56 IST on BSE on reporting net profit of Rs 17.18 crore in Q4 March 2008 as compared to net loss of Rs 1.65 crore in Q3 December 2007.

The stock hit a high of Rs 56.90 and a low of Rs 49.50 so far during the day. The stock had a 52-week high of Rs 138.80 on 19 June 2007 and a 52-week low of Rs 34.60 on 25 March 2008.

The company has an equity capital of Rs 111.34 crore. Face value per share is Rs 10.

The current price of Rs 56 discounts its Q4 March 2008 annualised EPS of Rs 6.17, by a PE multiple of 9.08.

Cambridge Solutions’ net sales rose 6.33% to Rs 48.03 crore in Q4 March 2008 over Q3 December 2007.

Cambridge Solutions reported a net profit of Rs 4.32 crore in the year ended March 2008 as compared to net loss of Rs 11.13 crore in the year ended March 2007. Net sales rose 4.3% to Rs 178.23 crore in the year ended March 2008 over the year ended March 2007.

In April 2008, Cambridge Solutions’ wholly owned subsidiary Cambridge Solutions Pte announced expansion of its Lenovo ThinkPad quality development and assurance business.

Cambridge Solutions provides information technology (IT) and information technology enabled services (ITES). It operates through two segments, business process outsourcing (BPO) and IT.