Cognizant
Technology Solutions Corporation (Nasdaq: CTSH), a leading provider of
information technology, consulting, and business process outsourcing services,
today announced its fourth quarter and full year 2009 financial results.
Highlights – Fourth Quarter 2009
- Quarterly revenue rose to $902.7 million, up 20% from
the year-ago quarter and 6% sequentially.
- Quarterly diluted EPS on a GAAP basis was $0.47,
compared to $0.38 in the year-ago quarter.
- Net headcount additions for the quarter exceeded
10,300; year-end headcount approximately 78,400.
Highlights – Full Year 2009
- Revenue increased to $3.279 billion, up 16% from the
previous year.
- Diluted EPS on a GAAP basis was $1.78, compared to
$1.44 in the previous year.
- Diluted EPS on a non-GAAP basis, which excludes $0.12
in stock-based compensation expense and stock-based Indian fringe benefit
tax expenses, was $1.90, compared to $1.59 in the previous year.
Revenue for 2009 increased to $3.279
billion, up 16% from $2.816 billion for 2008. GAAP net income was $535.0
million, or $1.78 per diluted share, compared to $430.8 million, or $1.44 per
diluted share, for 2008. Diluted earnings per share on a non-GAAP basis
was $1.90. GAAP operating margin was 18.9%. Excluding stock-based
compensation expense of $44.8 million and stock-based Indian fringe benefit tax
expense of $0.9 million, non-GAAP operating margin was 20.3%.
First Quarter & Full Year 2010
Outlook
The Company is providing the
following guidance:
- First quarter 2010 revenue anticipated to be at least
$935 million.
- First quarter 2010 diluted EPS expected to be $0.48 on
a GAAP basis and $0.52 on a non-GAAP basis, which excludes $0.04 of
estimated stock-based compensation expense.
- Fiscal 2010 revenue expected to be at least $3.935
billion, up at least 20% compared to 2009.
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