Cognizant Revenue Rises
News-Press Release
(Newsbox) 03-Aug-2011
Cognizant Q2 revenue rises to $1.485 billion, up 34.4% y-o-y and 8.3% q-o-q; Guidance for FY 2011 revenue growth increased to at least 32%
Q2, 2011 Highlights
§ Quarterly revenue rose to $1.485 billion, up 34.4% from the year-ago quarter and 8.3% sequentially.
§ GAAP net profit was $208 million, up 21% from the year-ago quarter.
§ Non-GAAP operating margin was 19.8%, within the Company’s targeted 19-20% range.
§ Net headcount addition for the quarter exceeded 7,100.
§ Quarterly diluted earnings per share (EPS) on a GAAP basis was $0.67, compared to $0.56 in the year-ago quarter.
Q3, 2011 and Full Year Outlook
The Company provides the following guidance:
§ Third quarter 2011 revenue anticipated to be at least $1.57 billion, indicating a 5.7% sequential growth.
§ Fiscal 2011 revenue expected to be at least $6.06 billion, up at least 32% compared to 2010.
§ Third quarter 2011 diluted EPS expected to be $0.70 on a GAAP basis
§ Fiscal 2011 diluted EPS expected to be at least $2.78 on a GAAP basis, and $2.98 on a non-GAAP basis, which excludes $0.20 of estimated stock-based compensation expense.
§ Revenue and EPS guidance includes the anticipated four-month impact of the recently announced definitive agreement under which Cognizant will acquire CoreLogic Global Services Private Limited, the India-based captive operations of CoreLogic.
§ Due to continued volatility in the currency markets, EPS guidance excludes any future non-operating foreign currency exchange gain or loss.
Warm regards
HARSH KABRA
Corporate Marketing and Communications
COGNIZANT
H1, Plot # 26, Rajiv Gandhi Infotech Park,
MIDC, Hinjawadi, PUNE - 411 057
Tel: 91-20-40216000 / 39196000 Extn: 202145#
Cell: +91-98232 73191
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