View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
May 8, 2009

Cognizant Q1 sales up 16% at $746m

Net income incresed 11.1% to $113.1m

By CBR Staff Writer

IT, consulting, and BPO services provider Cognizant Technology Solutions has reported a 11.1% increase in net income to $113.1m for the first quarter 2009, compared to $101.9m for the first quarter of 2008.

The company posted a revenue of $746m for the first quarter of 2009, up 16% from $643.1m compared to same period last year.

Operating income during the quarter grew 24% to $138.1m, while diluted EPS grew 12% to $0.38. Cash and cash equivalents at the end of the quarter was $759m.

Gordon Coburn, chief financial and operating officer at Cognizant, said: We continued to strengthen our balance sheet and ended the quarter with approximately $969m in cash, short-term and long-term investments. We repurchased over $12m of shares during the first quarter, and we remain confident in our ability to continue to prosper despite the economic downturn and to continue to deliver shareholder value.

In the second quarter, the company said it expects revenue of at least $760m and diluted EPS of $0.37. For fiscal 2009, it expects revenue to top $3.1 billion and diluted EPS of $1.53.

Content from our partners
Why food manufacturers must pursue greater visibility and agility
How to define an empowered chief data officer
Financial management can be onerous for CFOs, but new tech is helping lighten the load

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
THANK YOU