ASM: News & Events, Archive, HAHT

ADVANCED Synergic Microsystems Ltd today announced that it was setting up a fully owned subsidiary in the United States v to undertake marketing and support of the parent company's products and services.

Mr. S Rabindra, managing director, Advanced Synergic, said the subsidiary would be setup in California by the end of the current financial year. He said the company had already received the permission from the Reserve Bank of India to setup a representative office in the US.

Advanced synergic is engaged in software development for exports and for providing computer aided design and computer aided manufacturing solutions in the domestic market. Is has been involved in providing solutions in the area of CAD/CAM over the last few years. Mr. Rabindra said the company was currently executing software development on the AS/400 platform for Prompt Inc, USA.

In 1993-94, Advanced Synergic recorded a net profit of Rs.26.62 lakh on a sale of Rs.3.01 crore against a sales projection of Rs.6.84 crore and a profit forecast of Rs.20 lakh. The projections were made at the time of the company's public issue in February this year.

Mr. Rabindra said the sales were less than the projections as the company's public issue had been delayed by about seven months. "Te procedural delays were the main cause," Mr. Rabindra said.

For the current financial year, the company hopes to post a net profit of Rs one crore on sales of about Rs eight crore. Mr. Rabindra said the current order book of the company stood at Rs.2.20 crore.

According to Mr. Rabindra, the company had expanded its activity in the area of real time simulation by securing an order from the Aeronautical Development Agency for a simulator project based on Silicon Graphics' Onyx systems. Advanced synergic is a value added reseller for a range of Silicon Graphics computer systems.

Mr. Rabindra said the company was also currently engaged in the development of a warehouse distribution software package which would be platform-independent. The package, expected to cost between $250,000 to $500,000 depending on the configuration - will be launched by the end of 1994-95.Advanced Synergic is planning to tie up with a US-based software house to market the package.