Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. With Infosys, clients are assured of a transparent business partner, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 1,22,000 employees in over 50 offices worldwide. Infosys is part of the NASDAQ-100 Index and The Global Dow.

Consolidated results under IFRS for the quarter ended September 30, 2010

• Revenues were $1,496 million for the quarter ended September 30, 2010; QoQ growth was 10.2%; YoY growth was 29.6%
• Net income after tax was $374 million for the quarter ended September 30, 2010; QoQ growth was 14.7%; YoY growth was 18.0%
• Earnings per American Depositary Share (ADS) was 0.65 for the quarter ended September 30, 2010; QoQ growth was 14.0%; YoY growth was 16.1%
• 27 clients were added during the quarter by Infosys and its subsidiaries
• Gross addition of 14,264 employees (net addition of 7,646) for the quarter by Infosys and its subsidiaries
• 1,22,468 employees as on September 30, 2010 for Infosys and its subsidiaries
• Declared an interim dividend of `10 per ADS and a 30th year special dividend of `30 per ADS (equivalent to an interim dividend of $0.22 and 30th year special dividend of $0.67 per ADS, at the prevailing exchange rate of `44.50 per US$). The record date for the payment of dividend is October 22, 2010.

Business outlook

The company’s outlook (consolidated) for the quarter ending December 31, 2010 and for the fiscal year ending March 31, 2011, under International Financial Reporting Standards (IFRS), is as follows:

Quarter ending December 31, 2010

• Revenues are expected to be in the range of $1,547 million and $1,562 million; YoY growth of 25.6% to 26.8%
• Earnings per American Depositary Share(EPADS) is expected to be in the range of $0.66 and $0.67; YoY growth of 11.9% to 13.6%
  Fiscal year ending March 31, 2011##
• Revenues are expected to be in the range of $5.95 billion and $6.00 billion; YoY growth of 24.0% to 25.0%
• Earnings per American Depositary Share(EPADS) is expected to be in the range of $2.54 and $2.58;YoY growth of 10.4% to 12.2%

Fiscal year ending March 31, 2011

• Revenues are expected to be in the range of $5.95 billion and $6.00 billion; YoY growth of 24.0% to 25.0%
• Earnings per American Depositary Share(EPADS) is expected to be in the range of $2.54 and $2.58;YoY growth of 10.4% to 12.2%

http://www.infosys.com/investors/reports-filings/quarterly-results/2010-2011/Q2/Documents/IFRS-USD-press-release.pdf

Financial Highlights:

• Diluted earnings per share of $2.82, up 18 percent; 31 consecutive quarters of EPS growth, 13 of last 15 at double digits;
• Full-year 2010 EPS expectations raised to at least $11.40;
• Net income of $3.6 billion, up 12 percent;
• Net margin of 14.8 percent, up 1.1 points;
• Revenue of $24.3 billion, up 3 percent as reported, 4 percent adjusting for currency;
• Growth markets revenue up 16 percent, 13 percent adjusting for currency;
• BRIC countries revenue up 29 percent, 26 percent adjusting for currency;
• Business analytics revenue up 14 percent;
• Systems and Technology revenue up 10 percent, 11 percent adjusting for currency;
• System z mainframe revenue up 15 percent; MIPS up 54 percent;
• Software revenue excluding divested PLM operations, up 4 percent, 6 percent adjusting for currency; up 1 percent including divested PLM operations;
• Services revenue up 2 percent, as reported and adjusting for currency;
• Services backlog of $134 billion, up $5 billion quarter to quarter, down $2 billion adjusting for currency, and flat year over year.

http://www-03.ibm.com/press/us/en/pressrelease/32782.wss

Deals

Takeda Pharmaceuticals Awards Accenture a Multi-Year Application and Infrastructure Outsourcing Contract
Takeda Pharmaceuticals North America, Inc. (Takeda) has engaged Accenture (NYSE: ACN) to provide a range of information technology (IT) services under a strategic outsourcing contract. Accenture will provide Takeda with application and infrastructure outsourcing services. Application outsourcing services include development, testing, and maintenance of all applications supporting Takeda’s operations. Infrastructure outsourcing services include service desk management, data center management, server and storage management, end-user computing, and network management.
http://newsroom.accenture.com/article_display.cfm?article_id=5074

ABN AMRO Extends Infrastructure Services Agreement with IBM
ABN AMRO has signed a contract to extend its services agreement with IBM (NYSE: IBM). Under the new agreement, IBM will build and provide a new computing environment while integrating the existing infrastructure of ABN AMRO and the former Fortis Bank.
http://www-03.ibm.com/press/us/en/pressrelease/32686.wss

3M Extends Strategic Relationship With Cognizant to Drive Business Effectiveness
Cognizant to Provide Application and Related Services Using an Outcome-Based, Managed Services Engagement Model.
http://investors.cognizant.com/index.php?s=43&item=136

Mahindra Satyam signs deal with Commonwealth of Kentucky, Cabinet for Health and Family Services
Mahindra Satyam, the brand name of Satyam Computer Services Ltd., a leading global consulting and IT services provider, has signed a large contract with the Commonwealth of Kentucky, USA for design and delivery of a document management system for the child support system.
http://mediacube.mahindra.com/Latest%20Press%20Releases/Mahindra%20Satyam%20signs%20deal%20with%20Commonwealth%20of%20Kentucky,%20Cabinet%20for%20Health%20and%20Family%20Services.aspx

IKF Tech bags BPO deal from Vodafone; plans to add 2K people
IKF Technologies has bagged a contract from telecom major Vodafone for running their BPO operation for the Eastern region.
http://economictimes.indiatimes.com/infotech/ites/IKF-Tech-bags-BPO-deal-from-Vodafone-plans-to-add-2K-people/articleshow/6741766.cms

Bombardier Transportation Selects Infosys for Global SAP Implementation
Bombardier Transportation GmbH has selected Infosys Technologies as a partner to support its implementation of SAP ECC 6 software for the company’s production and distribution centers worldwide.
http://www.infosys.com/newsroom/press-releases/Pages/global-SAP-implementation.aspx

M&A, Partnerships, JV

CSC Acquires Vulnerability Research Labs
CSC (NYSE: CSC) has acquired the business of Vulnerability Research Labs (VRL), a privately held cyber threat intelligence firm. The acquisition enables CSC to enhance its cybersecurity support to public and commercial enterprises around the world by strengthening its ability to develop unique tools and techniques. http://www.csc.com/newsroom/press_releases/54613-csc_acquires_vulnerability_research_labs

Global PE firms seen keen on acquiring BT's stake in Tech Mahindra
UK telecom major British Telecom (BT), one of the original promoters of Tech Mahindra, has re-initiated discussions to sell its stake in the firm and has attracted the interest of private equity firm Providence Equity Partners , which specialises in telecom, media and IT investments, UK-headquartered Apax Partners and Goldman Sachs Private Equity Group.
http://economictimes.indiatimes.com/infotech/ites/Global-PE-firms-seen-keen-on-acquiring-BTs-stake-in-Tech-Mahindra/articleshow/6686816.cms

Barclays forays into ITES by acquiring 12.75% stake in Intelenet
Barclays has acquired a 12.75 % stake in SKR BPO Services, the holding company of Intelenet Global Services. Barclays Capital and Morgan Stanley were bankers for this deal.
http://www.intelenetglobal.com/pdf/Barclays%20Press%20Release.pdf

News & Events

Patni Computer opens 500-seat facility in China
Patni Computer opens 500-seat facility in China.
http://economictimes.indiatimes.com/infotech/ites/Patni-Computer-opens-500-seat-facility-in-China/articleshow/6732939.cms

UIDAI shortlists TCS, HCL, Wipro, IBM for IT infrastructure contract
The Unique Identity Authority of India (UIDAI)has selected nine large IT firms – IBM, Accenture, Wipro, TCS, HP among others, as shortlisted bidders, for selecting a managed service provider (MSP), for the Unique ID project. The contract which will go in for bidding shortly is estimated to cost the exchequer about Rs 2000 crore.
http://economictimes.indiatimes.com/infotech/software/UIDAI-shortlists-TCS-HCL-Wipro-IBM-for-IT-infrastructure-contract/articleshow/6778196.cms

Infosys applies for 18 patent applications in Q2
Domestic IT major Infosys Technologies  has applied for 18 patent applications for its different products and services in India and the US during the second quarter, ended September 30, 2010.
http://economictimes.indiatimes.com/infotech/software/Infosys-applies-for-18-patent-applications-in-Q2/articleshow/6752693.cms

Awards

Genpact Ranked Among Top Global Procurement BPO Providers by NelsonHall
Genpact Limited (NYSE: G) has been recognized as one of the top global providers of procurement business process outsourcing (BPO) services by NelsonHall. In its latest research, “Procurement Outsourcing Market Forecast 2010-2014,” NelsonHall provides an analysis of the global procurement BPO market by geography and service type and lists Genpact in the top five global and U.S. procurement BPO providers.
http://www.genpact.com/home/aboutgenpact/press-releases/genpact-ranked-by-NelsonHall.aspx

Analyst/Reports

2011 Trends to Watch: Business Process Outsourcing
The report Gives visibility into BPO contract renewal opportunities in 2011. Analyzes changes to the BPO vendor landscape and buyer behavior.
http://store.ovum.com/Product/2011_trends_to_watch_business_process_outsourcing?productid=OI00001-021

Targeting Platform F&A Outsourcing
The purpose of this study is to assist sourcing managers in understanding the potential opportunities around platform-based finance & accounting outsourcing (PFAO) and to recommend options for vendors in addressing the associated market opportunities.
http://www.nelson-hall.com/browse-database/market-analyses/?avpage-views=article&id=70060&fv=1

The Development of F&A Shared Services
The objectives of the report are to identify Key F&A shared services issues and initiatives, including issues in supporting the parent organization and fellow subsidiaries, and the level of cost savings sought and Satisfaction with F&A shared service centers, including satisfaction by service type, and areas for improvement http://store.ovum.com/Product/2011_trends_to_watch_business_process_outsourcing?productid=OI00001-021

MindTree Ltd. is a global IT Solutions company specializing in IT Services, Independent Testing, Infrastructure Management and Technical Support (IMTS), Knowledge Services and Product Engineering, which comprises of R&D Services, Software Product Engineering and Next In Wireless. MindTree is ranked 43rd across all industries and 19th amongst IT services companies by The International Association of Outsourcing Professionals in their annual list of the Top 100 Global Outsourcing Companies. Widely known for its focus on human capital development, MindTree was ranked No. 1 among the Most Admired Knowledge Enterprise (MAKE) India Award winners for the second consecutive year in 2008. MindTree was ranked No. 2 in Asia and declared the overall winner in India in the Asiamoney Corporate Governance Poll 2009. The Company is publicly listed in India.

Financial Highlights for the Second Quarter ended September 30, 2010

Standalone

• In dollar terms, Revenue grew by 7.7% Quarter over Quarter (QoQ) and 19.8% Year over Year (YoY) to $78.23 Million. In rupee terms, Revenue grew by 10.9% QoQ and 17.1% YoY to Rs 3,649 Million.
• In dollar terms, PAT decreased by 10.4% QoQ and 19.5% YoY to $8.34 Million. In rupee terms, PAT decreased by 4.9% QoQ and 18% YoY to Rs 396 Million.

Consolidated

• In dollar terms, Revenue grew by 7% QoQ and 26.2% YoY to $82.4 Million. In rupee terms, Revenue grew by 10.2% QoQ  and 22% YoY to Rs 3,844 Million
• In dollar terms, PAT increased by 42.8% QoQ and decreased by 51.7% YoY to $5 Million. In rupee terms, PAT increased by 47% QoQ and decreased by 53.4% YoY to Rs 233 Million.

http://www.mindtree.com/news-and-events/press-releases/mindtree%E2%80%99s-consolidated-q2-revenue-grows-7-qoq-and-262-yoy

Mastek is a publicly held (NSE: MASTEK; BSE: 523704) leading IT player with global operations providing enterprise solutions to insurance, government, and financial services organizations worldwide. With its principal offshore delivery facility based at Mumbai, India, Mastek operates across North America, Europe, and Asia Pacific regions. Incorporated in 1982, Mastek has been at the forefront of technology and has made significant investments in creating intellectual property, which along with proven methodologies and processes, increase IT value generation to its customers through onsite and offshore deliveries.

Review of quarterly financial performance

On a quarter-on-quarter basis:

Mastek’s total income for the quarter under review at Rs 151.4 crore represents a decline from Rs 165.1 crore in the preceding quarter

The company’s margin performance for the quarter reflects 

• Higher staff costs resulting from annual wage increases (that came into effect from July 1, 2010) and an increase in total headcount;
• Lower margins on account of project overruns in India / Asia and North America
• Enhanced R&D spend after the addition of a significant new client in the insurance vertical in North America;
• Lower utilisation during the quarter under review as newly hired employees tend to become productive with a lag.

These impacts neutralised the benefits of cost efficiencies in other areas and forex gains made during the quarter, resulting in an after-tax loss of Rs 13.5 crore for the quarter under review. 
At the same time, Mastek has maintained its order book, with the 12-month order book at Rs 312 crore as on September 30, 2010, compared to Rs 306 crore as on June 30, 2010.

Operating highlights

• Foresters selects Mastek as technology partner in their transformational initiative
• The company added 2 new client accounts during the period under review.
• The company’s 12-month order book was Rs 312 crore as on 30 September 2010, higher than Rs 306 crore in the sequentially preceding quarter. In constant currency terms, the 12-month order book was higher at Rs 323 crore at the end of Q1FY2011.
• People: As on 30 September 2010, the company had a total of 3,360 employees, of which about 23% were based on-site while the rest were at various offshore locations

http://www.mastek.com/press-release/investors/mastek-julysept-quarter-total-1849.html

HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee First’ which empowers our 70,218 in the 8th row transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 2.9 billion (Rs. 13,145 crores), as on 30th September 2010.

Financial Highlights

Highlights for the Quarter (US$)

• Revenue at US$ 804 mn; up 27.6% YoY & 9.0% sequentially
• Revenue on constant currency basis up 28.5% YoY & 7.4% sequentially
• EBIT at US$ 104 mn; lower by 8.8% YoY
• Net Income at US$ 72 mn; up 7.9% YoY
• Announces dividend of Rs. 1.50 per share, 31st consecutive quarter of dividend payout. 50% Increase in dividend per share
• Gross & Net Employee addition of 11,785 & 5,661 respectively taking total headcount to 70,218

http://www.hcl.in/files/Q1_FY-10-11.pdf

iGATE (NASDAQ:IGTE) is the first Business Outcomes driven integrated Technology and Operations (iTOPS) solutions provider with a global delivery model. iGATE enables clients to optimize their business through a combination of process investment strategies, technology leverage and business process outsourcing and provisioning. Our unique business model aligns with the client’s strategic objectives to achieve operational efficiencies, increase cost variability and rationalize their current operating environment. iGATE has over 8,000 employees and 7 development centers in Australia, India, Japan, and Mexico. iGATE has offices in 17 countries and 4 continents. With industry expertise spanning 16 years, iGATE has developed the right solutions with its Business Outcomes driven approach for industry verticals – Banking, Insurance, Manufacturing, Retail, Health Care, Media & Entertainment and Telecom & Hi-Tech.

Third quarter highlights

• Revenues were $74.8 million compared to $49.1 million made in the corresponding quarter previous year
• Achieved 39.4% gross margin and 19.1% net margin
• Diluted earnings per share was $0.25, a 56.3% increase over the corresponding quarter previous year
• 8,278 employees as of September 30, 2010; net addition of 120 employees during the quarter
• 5 new customers added
• A dividend of 15 cents per common share, as a partial dividend for iGATE’s performance for the year.
• The dividend is payable December 28, 2010, to shareowners of record as of December 1, 2010.
• iGATE’s Board of Directors currently intends to declare a further cash dividend in the first quarter of 2011, subject to iGATE’s year-end results.
• Ranked third in Dataquest-IDC’s annual survey of top 20 Best IT Employers in India.

http://www.igate.com/uploads/newsroom/press_releases/161Q3FY2010%20Earnings%20Rel.pdf

NIIT Technologies is a leading IT solutions organization, servicing customers in North America, Europe, Asia and Australia. It offers services in Application Development and Maintenance, Managed Services, IP Asset or Platform Solutions, and Business Process Outsourcing to organizations in the Financial Services, Travel & Transportation, Manufacturing/Distribution and Government sectors.

Financial Highlights

• Net Profits increase 36% over same period last year
• Consolidated Revenues at Rs. 324.6 Crores, up 11.4% QoQ
• Operating Profits at Rs.59.3 Crores, up 9.7% QoQ
• Profit After Tax at Rs.43.5 Crores up 6.6% QoQ 

http://www.niit-tech.com/media-detail.aspx?id=203&path=7/22

CMC is a pioneer Information Technology solutions provider in India and is a subsidiary of Tata Consultancy Services Limited, Asia’s largest software Company. CMC had a consolidated revenue of Rs. 871 crore for 2009-10. Operating out of 18 offices and 180 service locations in the country, CMC employed around 5600 people on March 31, 2010 and has a wholly owned subsidiary in USA called CMC Americas, Inc.

Financial Highlights

• Consolidated Operating revenue of Rs. 271.38 crore in quarter ending September 30, 2010, which represents 11% growth over previous quarter
• Operating Profit (EBITDA) of Rs. 52.95 crore
• Profit after Tax (PAT) of Rs. 43.62 crore during the quarter
• 23 added clients during the quarter – 12 in Americas and 11 in India

http://www.cmcltd.com/news_events/press_releases/PDF/Press_Release_Q2FY11.pdf

Accenture is a global management consulting, technology services and outsourcing company, with approximately 204,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$21.6 billion for the fiscal year ended Aug. 31, 2010.

Financial Highlights

• Fourth-quarter revenues increase 5% in U.S. dollars and 8% in local currency, to $5.42 billion; quarterly EPS are $0.66
• Full-year results include revenues of $21.55 billion, EPS of $2.66, operating margin of 13.5% and strong free cash flow of $2.85 billion
• New bookings are $6.5 billion for fourth quarter and $25.0 billion for full year
• Company increases semi-annual cash dividend to $0.45 per share
  For fiscal year 2011, Accenture continues to expect net revenue growth of 7% to 10% in local currency and increases outlook for annual EPS growth to 13% to 16%

http://newsroom.accenture.com/article_download.cfm?article_id=5066