Patni Computer Systems Limited (BSE: 532517, NSE: PATNI, NYSE: PTI) is a global provider of IT services and business solutions, servicing global 2000 clients. Patni services its clients through its micro-vertical focus in banking, financial services (BFS) and insurance (I); manufacturing, retail and distribution (MRD); life sciences; communications, media and utilities (CMU). With an employee strength of around 15,000; multiple global delivery centers spread across 15 cities worldwide; 29 international offices across the Americas, Europe and Asia-Pacific; Patni has registered revenues of US$ 656 million for the year 2009.
Performance Highlights for the quarter ended September 30,2010
Revenues for the quarter at US$ 178.8 million (R7,966.7 million)
- Up 6.7% QoQ from US$ 167.6 million (R7,776.3 million)
- Up 6.9% YoY from US$ 167.2 million (R8,040.2 million)
- Revenue concentration of Top 10 customers remained unchanged at 48.5% from 48.6% in previous quarter
Operating Income for the quarter at US$ 32.2 million (R1,436.8 million)
- Up 2.4% QoQ from US$ 31.5 million (R1,461.4 million)
- Up 19.0% YoY from US$ 27.1 million (R1,303.1 million)
- Up 24.3% YoY from US$ 25.9 million (Excluding extra ordinary items)
Net Income for the quarter at US$ 28.7 million (R1,280.9 million)
- Down 9.4% QoQ from US$ 31.7 million (R1,473.0 million)
- Down 19.4% YoY from US$ 35.7 million (R1,715.7 million)
- Up 18.2% YoY from US$ 24.3 million (Excluding extra ordinary items)
EPS for the quarter at US$ 0.22 per share (US$ 0.44 per ADS)
Future Outlook:
Q4 CY2010 Revenues are expected to be at US$ 180 million to US$ 181 million and Net Income (Excluding the hedging Gain/Loss) is expected to be in the range of US$ 22.5 million to US$ 23 million.
http://www.patni.com/media/557299/Patni_Q3_2010_PressRelease.pdf