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October 14, 2010

iGATE Q3 revenues up 52.6% to $74.8m

Posts net income of $14.3m

By CBR Staff Writer

iGATE has reported total revenues of $74.8m for the third quarter of 2010, an increase of 52.6%, compared to $49.05m for the same quarter in 2009.

The company’s operating income was $15.2m for the third quarter as compared to $9.1m for the same period last year.

For the quarter ended 30 September 2010, the company has posted net income of $14.3m, or $0.25 per share, as compared to $8.9m, or $0.16 per share, for the same period last year.

iGATE CFO Sujit Sircar said, the company continues to generate strong operating cash flow and its balance sheet was further strengthened with cash and cash equivalents and short-term investments of over $120m.

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