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

www.cognizant.com