Cognizant Technology Solutions Corp, the New York-based provider of application development tools and Year 2000/Euro conversion services, has reported second-quarter net income up 140% at $2.6m on revenue up 69.7% at $21.5m. Earnings per share for the quarter rose 80% to $0.27, beating the First Call consensus by $0.02. Operating income jumped 144% to $3.9m in the quarter from $1.6m in the year-ago quarter, while operating margin improved to 18.0% from 12.5%. The company says non-Y2K revenues grew 178% driven by the emerging technology and application management practices. For the six-month period, net income rose 199% to $5.3m on revenue up 83% at $41.9m, while earnings per share rose 120% to $0.55.
