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November 2, 2010

Cognizant Q3 revenues up 43% to $1.22bn

Operating income up 41% on year ago quarter

By CBR Staff Writer

Cognizant Technology Solutions has reported total revenues of $1.22bn for the third quarter of 2010, an increase of 43% compared to $853.5m for the same quarter in 2009.

The company’s operating income for the quarter was $228m, which is an increase of 41% compared to $161.8m for the same period last year.

For the quarter ended September 30, 2010, the company posted net income of $203.7m, or $0.66 per diluted share, compared to $136.6m, or $0.45 per diluted share, for the same period prior year.

The company anticipates fourth quarter revenues to be at least $1.27bn and diluted EPS to be $0.64.

For fiscal 2010, it expects revenue to be at least $4.55bn, up at least 38.8% compared to 2009.

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