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Datum:
woensdag 9 feb 2011 • 15:47
(15 jaar en 86 dagen geleden)
Bedrijf:
Cognizant
PR:
TEAM LEWIS
Cognizant Reports Fourth Quarter and Full Year 2010 Results
Fourth quarter revenue up 7.7% sequentially and 45% year-over-year;
Annual revenue of $4.59 billion, up 40% year-over-year;
Provides guidance for 2011 revenue growth of at least 26%
Cognizant Technology Solutions Corporation (Nasdaq: CTSH), a leading provider of information technology, consulting, and business process outsourcing services, today announced its fourth quarter and full year 2010 financial results.
Highlights – Fourth Quarter 2010
Quarterly revenue rose to $1.31 billion, up 45.2% from the year-ago quarter and 7.7% sequentially
Quarterly diluted EPS on a GAAP basis was $0.66, compared to $0.47 in the year-ago quarter
Quarterly diluted EPS on a non-GAAP basis, which excludes stock-based compensation expense, was $0.70, compared to $0.50 in the year-ago quarter
Net headcount addition for the quarter exceeded 8,300; year-end headcount was approximately 104,000.
Revenue for the fourth quarter of 2010 rose to $1.31 billion, up 45.2% from $902.7 million in the fourth quarter of 2009. GAAP net income was $206.2 million, or $0.66 per diluted share, compared to $144.0 million, or $0.47 per diluted share, in the fourth quarter of 2009. Diluted earnings per share on a non-GAAP basis was $0.70. GAAP operating margin for the quarter was 18.7%. Excluding stock-based compensation expense of $14.9 million, non-GAAP operating margin was 19.8%, in line with the Company's targeted 19-20% range. Reconciliations of non-GAAP financial measures to GAAP operating results and diluted EPS are included at the end of this release.
"We are pleased with how quickly our business rebounded during 2010 – a validation of our strategy of continuing to invest through the downturn," said Francisco D'Souza, President and Chief Executive Officer of Cognizant. "As our clients continue to recover from the recent economic turmoil, it's clear that our industry stands at yet another inflection point. Clients increasingly turn to us as they look to outsource a broader range of services and simultaneously address the secular and technological shifts impacting their industries. We believe that these trends, and our resilience in meeting them, should provide strong support for growth as we enter 2011."
Highlights – Full Year 2010
Revenue increased to $4.59 billion, up 40.1% from the previous year
Diluted EPS on a GAAP basis was $2.37, compared to $1.78 in the previous year
Diluted EPS on a non-GAAP basis, which excludes $0.14 in stock-based compensation expense and stock-based Indian fringe benefit tax expenses, was $2.51, compared to $1.90 in the previous year.
Revenue for 2010 increased to $4.59 billion, up 40.1% from $3.28 billion for 2009. GAAP net income was $733.5 million, or $2.37 per diluted share, compared to $535.0 million, or $1.78 per diluted share, for 2009. Diluted earnings per share on a non-GAAP basis was $2.51. GAAP operating margin was 18.8%. Excluding stock-based compensation expense of $57.0 million, non-GAAP operating margin was 20.0%. Reconciliations of these non-GAAP financial measures to GAAP operating results and diluted EPS are included in the table at the end of this release.
First Quarter & Full Year 2011 Outlook
The Company is providing the following guidance:
First quarter 2011 revenue anticipated to be at least $1.36 billion
First quarter 2011 diluted EPS expected to be $0.63 on a GAAP basis and $0.67 on a non-GAAP basis, which excludes $0.04 of estimated stock-based compensation expense
Fiscal 2011 revenue expected to be at least $5.79 billion, up at least 26% compared to 2010
Fiscal 2011 diluted EPS expected to be at least $2.68 on a GAAP basis, and $2.85 on a non-GAAP basis, which excludes $0.17 of estimated stock-based compensation expense
Due to continued volatility in the currency markets, EPS guidance excludes any non-operating foreign currency exchange gain or loss.
"Strong investments in our people, processes and infrastructure have allowed us to provide increasing value to our clients, while generating industry-leading growth," said Gordon Coburn, Chief Financial and Operating Officer. "Our intense focus on operational excellence continues to pay off. We crossed the 100,000 employee mark in the fourth quarter, while at the same time driving attrition levels down. In addition, strong cash collections helped drive an increase in cash and short-term investments of almost $300 million during the quarter to a total of over $2.2 billion."
Over Cognizant
Cognizant (Nasdaq: CTSH) is een vooraanstaande dienstverlener in IT-consultancy, technologie en Business Process Outsourcing (BPO). Cognizant werkt samen met klanten om hun bedrijfspositie sterker te maken. Het hoofdkantoor is gevestigd in Teaneck, New Jersey (VS). Cognizant combineert een passie voor klanttevredenheid, technologische innovatie en expertise in de markt en zakelijke processen. De organisatie heeft meer dan 50 locaties wereldwijd en zo’n 104.000 medewerkers per 31 december 2010. Cognizant is opgenomen in de NASDAQ-100 en de S&P 500. Verder is Cognizant een Forbes Global 2000-organisatie, lid van de Fortune 1000 en wordt het bedrijf genoemd als een van de beste en snelst groeiende bedrijven ter wereld. Bezoek ons online op www.cognizant.com
of volg ons via Twitter: Cognizant
Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
Voor meer persinformatie kunt u contact opnemen met:
Tel: +31 (0)40 266 1130
E-mail:
cognizantnl@octanepr.com
http://www.octanepr.nl
vrijdag 1 mei 2026
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Lees meer in het weekoverzicht
Woensdag 9 feb 2011 • 15:47
Verstreken tijd: 15 jaar en 86 dagen
Cognizant contact
+31 20 524 7700
infonl@cognizant.com
www.cognizant.com/nl/nl
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