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iGATE Reports Strong Second Quarter 2010 results

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. iGATE has over 8000 employees and 7 development centers in Australia, India, Japan, Malaysia and Mexico. iGATE has offices in 12 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.

Second quarter highlights

•Revenues were $66.8 million compared to $46.8 million made in the corresponding quarter previous year
•Achieved 38.1% gross margin and 16.7% net margin
•Diluted earnings per share was $0.20, a 82% increase over corresponding quarter previous year
•8,158 employees as of June 30, 2010; net addition of 801 employees during the quarter
•4 new customers added in the quarter
•Awarded LEED (Leadership in Energy and Environmental Design) GOLD certificate for the new delivery facility in Bangalore, India
•Expanded the global delivery facility in Guadalajara, Mexico

http://www.igate.com/uploads/newsroom/press_releases/157second_quarter_results_2010.pdf

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Posted by Guru's Pick on Thursday, August 05, 2010 11:22 PM
     
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