Annual Quarterly

$ in 000 $ in 000
Jun 30, 2010 Sep 30, 2010
Assets
Current Assets
Cash and Cash Equivalents
Short Term Investments
Net Receivables
Inventory
Other Current Assets

Total Current Assets - -

Long term Investments
Property Plant And Equipment
Goodwill
Intangible Assets
Accumulated Amortization
Other Assets
Deffered Long Term Asset Charges

Total Assets - -

Liabilities
Current Liabilities
Accounts Payables
Short/Current Long Term Debt
Other Current Liabilities

Total Current Liabilities - -

Long Term Debt
Other Liabilities
Defferred Ling Term Liability Charges
Minority Interest
Negative Goodwill

Total Liabilities - -

Stockholder's Equity
Misc Stock Option Warrents
Redeemable Prefeered Stock
Prefferred Stock
Common Stock
Retained Earnings
treasury Stock
Capital Surplus
Other Stockholder's Equity
 Total Stockholder Equity - -

Net Tangible Assets

Annual Quarterly
$ in 000 $ in 000
Jun 30, 2012 Sep 30, 2010

Total Revenue 46,200 9,500.00

Cost of Revenue 18,480 3,800.00

Gross Profit 27,720 5,700.00

Operating Expenses: - -
Research and Development 11,916 2,450.35
Selling General and Administrative 474 97.51
Non Recurring 1,723 354.39
Others - -

Total Operating Expenses 14,114 2,902.25

Operating Income or Loss 13,606 2,797.75

Income from Continuing Operations:

Total Other Income/Expenses Net
EBIT 2,797.75
Interest Expense
Income before Tax 2,797.75
Income Tax Expense
Minority Interest

Non-recurring Events
Discontinued Operations
Extra ordinary Items
Effect of Accounting Changes
Other Items

Net Income 3,969 2,797.75

Prefferre Stock and Other Adjustments

Net Income Appicable to Common Shares

 Balance
Annual
All numbers in thousands
Jun 30, 2010 Jun 30, 2009
Assets
Current Assets
Cash and Cash Equivalents 9,776 9,404
Short Term Investments - -
Net Receivables 21,758 17,081
Inventory - -
Other Current Assets 1,822 2,307

Total Current Assets 33,356 28,792

Long term Investments 201 -
Property Plant And Equipment 9,473 9,186
Goodwill 9,439 9,439
Intangible Assets 19,669 15,147
Accumulated Amortization - -
Other Assets - 205
Deffered Long Term Asset Charges - -

Total Assets 72,138 62,769

Liabilities
Current Liabilities
Accounts Payables 4,902 5,151
Short/Current Long Term Debt 12,734 8,770
Other Current Liabilities 2,592 3,473

Total Current Liabilities 20,228 17,394

Long Term Debt 4,998 8,014
Other Liabilities 868 -
Defferred Ling Term Liability Charges - -
Minority Interest 10,423 8,383
Negative Goodwill - -

Total Liabilities 36,517 33,791

Stockholder's Equity
Misc Stock Option Warrents - -
Redeemable Prefeered Stock - -
Prefferred Stock - 1,920
Common Stock 37 30
Retained Earnings (39,859) (41,253)
treasury Stock (396) (396)
Capital Surplus 86,003 78,199
Other Stockholder's Equity (10,165) (7,522)

Total Stockholder Equity 35,620 30,978

Net Tangible Assets $6,512 $6,392

Income Sta
Annual
All numbers in thousands
Jun 30, 2010 Jun 30, 2009

Total Revenue 36,780 26,448

Cost of Revenue 13,867 17,198

Gross Profit 22,913 9,250

Operating Expenses:
Research and Development - -
Selling General and Administrative 11,132 11,365
Non Recurring 443 2,394
Others 1,610 1,974

Total Operating Expenses 13,185 15,733

Operating Income or Loss 9,728 (6,483)

Income from Continuing Operations:

Total Other Income/Expenses Net (1,842) 1,638
EBIT 7,819 (4,845)
Interest Expense 1,478 1,294
Income before Tax 6,341 (6,139)
Income Tax Expense 54 91
Minority Interest (4,892) (1,816)

Non-recurring Events - -
Discontinued Operations - -
Extra ordinary Items - -
Effect of Accounting Changes - -
Other Items - -

Net Income 1,395 (8,046)

Prefferre Stock and Other Adjustments - -

Net Income Appicable to Common Shares 1,395 (8,046)

 Balance Sheet
nnual Quarterly
s in thousands All numbers in thousands
Jun 30, 2008 ### Jun 30, 2010 ### ###

6,520 7,855 9,776 9,275 10,212

- - - - -
23,374 26,381 21,758 22,180 18,889
- - - - -
830 2,175 1,822 2,497 1,974

30,724 36,411 33,356 33,952 31,075

- 130 201 244 -
9,177 9,582 9,473 8,458 9,064
9,439 9,439 9,439 9,439 9,439
12,571 20,612 19,669 17,284 16,641
- - - - -
1,866 - - - -
- - - - -

63,777 76,174 72,138 69,377 66,219

5,108 5,568 4,902 4,657 5,244

5,213 13,838 12,734 12,585 10,186
3,366 4,413 2,592 3,450 3,154

13,687 23,819 20,228 20,692 18,584

744 887 4,998 5,339 6,076
- 868 868 868 1,076
- - - - -
7,858 10,719 10,423 9,039 8,096
- - - - -

22,289 36,293 36,517 35,938 33,832

- - - - -
- - - - -
1,920 - - - -
26 43 37 36 35
(33,072) (38,292) (39,859) (41,351) (41,940)
(396) (396) (396) (396) (396)
74,950 89,366 86,003 85,203 84,702
 (2,301) (10,840) (10,165) (10,050) (10,014)

41,127 39,881 35,620 33,442 32,387

$19,478 $9,830 $6,512 $6,718 $14,403

Income Statement
nnual Quarterly
s in thousands All numbers in thousands
Jun 30, 2008 ### Jun 30, 2010 ### ###

36,642 8,403 10,705 8,933 9,520

15,724 3,181 3,254 3,456 3,598

20,918 5,222 7,451 5,477 5,921

- - - - -
11,711 2,676 2,640 2,488 3,600
- 255 233 (3) 213
1,998 266 268 412 418

13,709 3,197 3,141 2,897 4,231

7,209 2,026 4,310 2,581 1,690

3,570 911 (762) (547) (705)

10,779 2,866 3,504 2,010 986
627 316 325 313 372
10,152 2,550 3,179 1,697 614
122 9 5 11 33
(5,038) (975) (1,657) (1,097) (1,029)

- - - - -
- - - - -
- - - - -
- - - - -
- - - - -

4,992 1,566 1,517 589 (448)

- - - - -

4,992 1,566 1,517 589 (448)

 Annual
### ### ###
Liquidity Ratios
Current Ratio 1.65 1.66 2.24

Liquid Ratio 1.56 1.52 2.18

Absolute Liquid Ratio 0.48 0.54 0.48

Management Ratios
Receivables Turnover Ratio 1.69 0.34 0.45

Return on Assets 3.60% -23.68% 15.10%

Return on Equity 3.92% (0.28) 0.13

Solvancy Ratios
Debt-to-Equity 49.78% 57.76% 15.19%
Profitability Ratios
Gross Profit Ratio 62.30% 34.97% 57.09%

Net Profit Ratio 3.79% -30.42% 13.62%

Operating profit Margin 26.45% -24.51% 19.67%

 Quarterly
### ### ### ###

1.53 1.65 1.64 1.67

1.44 1.56 1.52 1.57

0.33 0.48 0.45 0.55

0.32 0.11 0.10 0.12

3.94% 3.91% 1.66% -1.27%

0.04 0.04 0.02 (0.01)

36.92% 49.78% 53.60% 50.21%

62.14% 69.60% 61.31% 62.20%

18.64% 14.17% 6.59% -4.71%

24.11% 40.26% 28.89% 17.75%

 Annual
All numbers in thousands
Jun 30, 2010 Jun 30, 2009

Net Income 1,394 (8,047)

Cash Flow from Operating Activities:

Deprecistion 3,908 4,188
Adjustment to Net Income 9,144 4,912
Changes in Accounts Payables (1,317) (4,679)
Changes in Liabilities (759) 1,074
Changes in Inventories - -
Changes in Other Operating Activities (3,701) 3,784

Total Cas Flow from Operatig Activities 8,669 1,232

Investing Activities:
Capital Expenditures (2,986) (2,094)
Investments (268) -
Other Cash Flows from investing activities (6,962) (7,341)

Total Cas Flow from Investong Activities (10,216) (9,435)

Financing Activities:
Dividends Paid (44) (34)
Sale Purchase of Stock (994) 1,194
Net Borrowings 2,747 5,411
Other Cas Flows from Financing Activities - (4,840)

Total Cas Flows from Financing Activities 1,709 1,731

Effect of Exchange Rate Changes (490) (240)

Change in Cas and Cash Equivalent (328) (6,712)

 nnual Quarterly
rs in thousands All numbers in thousands
Jun 30, 2008 Sep 30, 2010 Jun 30, 2010 Mar 31, 2010 Dec 31, 2009

4,992 1,567 1,517 589 (448)

3,338 897 915 990 991

4,083 1,944 2,689 2,123 2,398
(4,124) (2,708) 1,341 (2,896) 931
233 (360) (706) (200) 1,097
- - - - -
(4,751) (1,454) (998) (1,071) (1,287)

3,771 (114) 4,758 (465) 3,682

(4,436) (683) (1,528) (372) (991)

(904) (435) - (268) -
(4,814) (1,570) (2,633) (1,439) (1,277)

(10,154) (2,688) (4,161) (2,079) (2,268)

- - 0 0 (2)
6,538 2,208 138 240 389
1,932 (1,256) (749) 1,525 (476)
85 - - - -

8,555 952 (611) 1,765 (89)

91 (72) (187) (158) (70)

2,263 (1,922) (201) (937) 1,255

Company Beta 2.50
Debt Weightage 22.58%
Equity Weightage 77.42%
Market Return 11.00%
Risk Free Return 0.33%
Cost of Debt 8.34%
Cost of Equity 27.01%

WACC 22.79%
 Current 2011 2012 2013 2014
Revenues 36,780 44,136 52,963 63,556 76,267
Cost Of revenue (14,712) (17,654) (21,185) (25,422) (30,507)

Profit Before Tax

Income Tax ExpenseTax - - - - -
Profit after Tax - - - - -
Depreciation

Net Cashflows -
PVF 1 0.8144 0.8144 0.8144 0.8144
- - - - -
 2015
91,520
(36,608)

-
-

0.8144
-
Revenue 46.2M
Profit Margin 8.59%
Operating Margin 30.55%
Gross Profit Margin 60.00%
Company Beta 2.50
Current Revenue 36,780.0
Revenue Growth (5 yr) 20.00%
Return on Assets 10.23%
Return on equity 9.03%
Total Debt/Equity 49.78%
Income Tax Rate 35.00%