Cognizant maakt resultaten 2012 bekend

• Fourth quarter revenue up 3% sequentially and 17% year-over-year;
• Annual revenue of $7.35 billion, up 20% year-over-year;
• Provides guidance for 2013 revenue growth of at least 17%

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 2012 financial results.

Highlights – Fourth Quarter 2012

• Quarterly revenue rose to $1.95 billion, up 17.1% from the year-ago quarter and 3.0% sequentially.
• Quarterly diluted EPS on a GAAP basis was $0.92, compared to $0.78 in the year-ago quarter.
• Quarterly diluted EPS on a non-GAAP basis, which excludes stock-based compensation expense, was $0.99, compared to $0.84 in the year-ago quarter.
• Net headcount addition for the quarter exceeded 6,300; year-end headcount was approximately 156,700.

Revenue for the fourth quarter of 2012 rose to $1.95 billion, up 17.1% from $1.66 billion in the fourth quarter of 2011. GAAP net income was $278.8 million, or $0.92 per diluted share, compared to $240.1 million, or $0.78 per diluted share, in the fourth quarter of 2011. Diluted EPS on a non-GAAP basis was $0.99. GAAP operating margin for the quarter was 18.3%. Excluding stock-based compensation expense of $27.4 million, non-GAAP operating margin was 19.7%, within 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 to once again deliver industry-leading revenue growth in 2012," said Francisco D'Souza, Chief Executive Officer of Cognizant. "As we look to 2013, it is clear that secular industry shifts, new technology architectures, virtual business models and changing demographics are forcing clients to re-examine how they operate. Increasingly, clients are finding incremental levels of performance inadequate and are challenging the status quo to find ways to maintain their market leadership."

"When confronting their business challenges, clients not only look to Cognizant to help them run their operations better, but increasingly turn to us to help them run their operations differently in order to differentiate themselves in the market and drive topline growth," said Gordon Coburn, President of Cognizant. "Given our strong client relationships and our deep consulting and domain expertise, Cognizant is uniquely positioned to address clients' dual mandate of 'running better' and 'running different' from one global platform."

Highlights – Full Year 2012

• Revenue increased to $7.35 billion, up 20.0% from the previous year.
• Diluted EPS on a GAAP basis was $3.44, compared to $2.85 in the previous year.
• Diluted EPS on a non-GAAP basis, which excludes stock-based compensation expense, was $3.70, compared to $3.07 in the previous year. 
• GAAP and non-GAAP diluted EPS includes the impact of $0.05 in net non-operating foreign currency exchange loss.

Revenue for 2012 increased to $7.35 billion, up 20.0% from $6.12 billion for 2011. GAAP net income was $1.05 billion, or $3.44 per diluted share, compared to $883.6 million, or $2.85 per diluted share, for 2011.  Diluted EPS on a non-GAAP basis was $3.70. GAAP operating margin was 18.5%.  Excluding stock-based compensation expense of $107.4 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 2013 Outlook

Starting in 2013, our reported non-GAAP financial measures will exclude acquisition-related charges, including amortization of purchased intangibles, as well as stock-based compensation expense. This change is not reflected in our reported 2012 quarterly or annual results above, but is reflected in our 2013 non-GAAP guidance below.

The Company is providing the following guidance:

• First quarter 2013 revenue anticipated to be at least $2.0 billion.
• First quarter 2013 diluted EPS expected to be $0.92 on a GAAP basis and $1.01 on a non-GAAP basis.
• Full year 2013 revenue expected to be at least $8.60 billion, up at least 17.0% compared to 2012. This guidance includes anticipated acquisition revenue of $90 million.
• Full year 2013 diluted EPS expected to be at least $3.95 on a GAAP basis, and $4.31 on a non-GAAP basis.
• EPS guidance excludes the impact of any non-operating foreign currency exchange gains or losses.  

"Generating broad-based, industry leading growth of 20% within a tough demand environment of 2012 is a testament to the strength of our business model," said Karen McLoughlin, Chief Financial Officer. "Furthermore, 2012 was a strong year of cash generation. Our cash and short-term investments balances grew by $430 million during the year, after covering over $480 million of share repurchases."

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 Annual Report on 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.

Over Cognizant
Cognizant (NASDAQ: CTSH) is een vooraanstaande dienstverlener in informatietechnologie, consultancy en business process outsourcing-services. Cognizant werkt in nauw partnerschap met ’s werelds grootste organisaties om hun concurrentiepositie te versterken. Het hoofdkantoor is gevestigd in Teaneck, New Jersey (Verenigde Staten). Cognizant combineert een passie voor klanttevredenheid, technologische innovatie en diepgaande industrie- en bedrijfsproceskennis met een wereldwijd samenwerkend personeelsbestand. Cognizant heeft  wereldwijd meer dan 50 delivery centers en ongeveer 156.700 werknemers (per 31 december, 2012). Cognizant heeft een NASDAQ-100 en S&P 500-notering en is verder genoteerd in de Forbes Global 2000 en Fortune 500. De organisatie behoort hiermee tot de bestpresterende en snelstgroeiende bedrijven in de wereld. Bezoek onze website www.cognizant.com of volg ons via Twitter: @Cognizant.