LETTER TO SHAREHOLDERS
TO OUR SHAREHOLDERS, PARTNERS, CUSTOMERS AND EMPLOYEES
Fiscal period 2012 has been a roller coaster year- full of ups and downs. We reportedhigher revenues and lowerearnings than the previous year. We had substantial MTM currencylosses coupled with provisioning for bad debts. Receivables got stretched as we forayedinto newer segments and markets, and also due to uncertainty and global economic turmoil.However, we launched fantastic new products and services, consolidated business lines andstreamlined business operations to build an incredible future for Geodesic.
We extended our financial year by 3 months from 31 st March, 2012 to 30 thJune, 2012. So the financial year is not comparable with the previous year. This decisionwas taken primarily because we were in the process of consolidating development, launchand market products viz. Enlyte and variants of the GeoAmida platform. We opined that thenew product offering will lidate conso business lines across our product portfolio byextending the financial year till 30th June, 2012.
We are now in a better position to present restructured business lines and itsfinancial impact to our stakeholders. We added 35 new enterprise customers and 4 millionretail users for communication, content and collaboration stack.
OUR BUSINESS: PRODUCTS, SERVICES AND DEVICES:
Over time, the full value of our software will be seen and felt in how people use ourproducts, solutions, devices and services at work and in their personal lives. This is amajor shift, both in terms of what we do and how we see ourselves as a solutions, servicesand devices company. We have been working hard on making our products, solutions, servicesand devices to work in a self-service mode. This shift impacts how we run the company, howwe develop new experiences and how we take products to market, for both consumers andbusinesses. We believe this shift will impact the company positively, going forward. Theplanningand shift in the way we perceived Geodesic during the past year and the roadmapahead gives us the edge to be a leading player in the solutions, services and devicesmarkets globally.
OUR SOLUTIONS AND SERVICES FOR THE ENTERPRISE:
We will continue to work with a varied ecosystem of partners and system integrators todeliver a broad spectrum of our solutions and devices. We do this to ensure that weprovide "a self-service model" of our solutions and services to our customers.We believe that the self-service nature of our solutions is important for a reason -Customers today want to work on ideas, sometimes, improbable ones to give them the edgeand the power to expand at will. The self-service platform will provide us with ideas to abetter roadmap. Thisn turn, will ensure that we build solutions and services that i peoplewant.
There will be times when we may have to build specific devices and solutions forspecific purposes, as we have chosen to do with law enforcement devices and Point Of Saleterminals. We have built segment-specific solutions in the areas of financial analytics.We have set up a dedicated- user experience team and will focus relentlessly on deliveringdelightful, seamless experiences across hardware, solution and services.
A great example of this shift can be seen in our products RoundTable, ENLYTe and BBeep:
Roundtable is a culmination of all our past communication and collaborationtechnologies has been launched as a "cloud solution" to ensure minimum effortsat the customersRoundtable end. incorporates mobility as an important component toallow customers to communicate collaborate from their cell phones and the ever growingtablets.
ENLYTe, on the other hand is perfect for personal, educational and professional use.ENLYTe,during the last one year has gone through a series of environmental modificationsin terms of Operating system support, content and cloud services and ENDRIVe storage(storage backup for students content). ENLYte will now be available across multipleplatforms including Linux, Windows 8 and Android, and will be launched in the forthcomingacademic year.
BBeep is the perfect enterprise messenger or the worlds most secure and privatemessenger. BBeep lets you control the flow of messages, images and, keepsvideos a track ofall the messages/pictures/videos in the binge for on demand retrieval, disallows SPAM andallows the customer to choose their contacts.
Helping businesses move to the cloud is one of our largest opportunities. All theonline services that people use today both from Geodesic and other companies run onservers in data centers around the globe. The number of Internet services used willcontinue to grow as people connect to the Internet from more devices for more purposesfueling incredible opportunity for our enterprise business solutions and analytics. Uniqueto Geodesic, we continue to design and deliver world-class cloud solutions that allow ourcustomers to move to the cloud on their terms.
Our cumulative 10+ years of innovation,product utility, customer experienceimprovements: usability, business models, speedy delivery, reducing cost structure so wecan afford to offer customers value and ever-lower prices, amongst many others. This workhas been done by a large number of smart, relentless, customer-centric people across allareas of the company. We are proud of our solutions (in the areas of communication,collaboration, content management and analytics, CRM and e-governance), our low prices,reliability and scalability. Our business customers inform us that these solutions helpthem achieve their business objectives and goals much faster and more economically therebyleading to increase in efficiency.
We know that we can achieve far more and were dedicated to improving further.
OUR SOLUTIONS AND SERVICES FOR THE RETAIL CONSUMER:
Further, as we develop and update our consumer services, well do so in ways thattake full advantage of hardware advances. We have developed our solutions and services onvarious platforms and have pre-loaded these solutions with hardware platforms around theworld. So right out of the box, a customer will be in a position to use the device that isconnected communication, productivity and entertainment services from Geodesic. Ourconsumer apps allow customers to select a program, channel or a genre, start playing it onthe mobile phone and finish watching the same program on the PC or the TV.
Our solutions are taking a major leap forward. The new products are designed from theground up for all platforms and take full advantage of new mobile form factors with touchand pen capabilities. It unlocks new experiences for reading, note-taking, meetings andcommunications, and brings social media directly into productivity and collaborationscenarios.
CULTURE AND TEAM
We live in an era of extraordinary easeincr in available bandwidth, disk space, andprocessing power, all of which continue to get cheaper by the day. We have on our teamsome of the most sophisticated technologists helping to solve challenges that are right onthe edge of whats possible today.
Innovation and excellence form the foundation of our culture. At Geodesic, we ensurethat our employees are given enough opportunities to express new ideas and prospects.
Our team is a perfect blend of raw talent and experienced professionals. This helps usspearhead our tasks, achieve goals and develop innovative products.
Over the period, we have modified our employee development programs and introduced newones so that our employees grow into skilled professionals and fine leaders. We are a firmbeliever in transparency and want our employees to have a broader sense of responsibilitytowards customers and users. Our employees are the driving force behind our success and weare committed to have a mutually benefitting relationship with them.
MOVING AHEAD: BIG OPPORTUNITY
Theres a remarkable amount of opportunity ahead for Geodesic in both the nextyear and the next decade. As we enter this new era, there are several distinct areas oftechnology that we are focused on driving forward including that of productivity,multimedia content management, communication, collaboration and education - all of whichstart to show up in on our own device and other platforms and services launching thisyear. Leading from the front in these areas, making technologyintuitive and adopting newbusiness model approaches over the long term will translate into sustained growth into thenear and distant future.
We are uniquely positioned to lead in these areas, given the breadth of our solutionsand services portfolio, as well as our significant customer breadth, global partners andretail customer base and the growing mobile ecosystem.
We have unshakeable conviction that the long-term interests of shareholders areperfectly aligned with the interests of customers.
As always, thank you for your continued support.
|Pankaj Kumar ||Kiran Kulkarni ||Prashant Mulekar |
|Chairman ||Managing Director ||Executive Director |