Summary of Camelot Information Systems (CIS) Q3/2012 Earnings Conference Call December 14, 2012

Camelot missed its revenue numbers for Q3 and its business environment remains soft.  It has not lost market share.  Due to the leadership change in China, there was a management transition in a lot of companies that are Camelot's customers.    One FIS business unit experienced delays in contract signing due to the leadership change and the delay will continue in Q4. 

Camelot is still seeing softness in its customer base, partially due to lower revenue in the resources energy sector.  That sector was also impacted by the leadership transition.  Camelot's manufacturing and automotive customers also saw only modest growth.  Camelot expects the softness to continue into next year. 

Camelot is continuing to apply new technologies to its solutions.  It entered into a partnership with Huawei Mobile to provide solutions for mobile platforms.  It has completed 3 of 4 projects.

Net revenue in the quarter increased by 15.7 percent.  Enterprise Application Service (EAS) revenues increased by 1.8 percent and FIS revenues increased by 58.6 percent.  EAS revenues were 66.5 percent of net revenues and FIS was 33.5 percent of net revenues for the quarter.   Net loss was $31.5 million versus a net loss of $46.5 million a year ago.

The transcript of the earnings conference call can be found on Seeking Alpha at the following link:
http://seekingalpha.com/article/1063981-camelot-information-systems-ceo-discusses-q3-2012-results-earnings-call-transcript

Copyright 2012 Jaygo's Earnings Conference Call Summaries


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