Genpact has reported revenue of $296.9m for the fourth quarter of 2009, up 5% compared to $281.8m from a year earlier, and up 4% sequentially.
The adjusted income from operations totaled $54.7m, compared to $58.8m in the fourth quarter of 2008. Income from operations margin decreased to18.4% from 20.8% in the same period last year.
For the quarter ended December 31, 2009, the net income attributable to its shareholders was $34.6m, compared to $47m in the fourth quarter of 2008. The adjusted diluted earnings per share dropped to $0.19 from $0.23 in the same period last year.
For the fiscal year 2009, the company reported revenues of $1.12bn, up 8% from the prior year. Adjusted income from operations increased 11.6% to $199m, compared to $178.3m in 2008. The net income attributable to shareholders was up by 1.7% to $127.3m while the adjusted diluted earnings per share were down to $0.73 from $0.76 in 2008.
Pramod Bhasin, Genpact’s President and CEO said, “Our results for 2009 were very good in light of the global economy, and in line with our guidance. In the second half of the year and especially in the fourth quarter of 2009, we made planned investments for growth which affected net income in the fourth quarter. These investments are already producing results.”
“We are beginning 2010 with solid momentum, including a strong pipeline with increased demand across all geographies and industry verticals, the ramp-up of recent client wins, the GE contract extension and a strategic acquisition. In January we extended our long-term contract with GE through 2016.”
The company expects a revenue growth of 14-17% and adjusted operating income margins to be between17% to 18% for the year 2010.