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Cognizant Q2 revenues up by 12%
By siliconindia
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Wednesday, 01 August 2007, 19:30 IST
Hyderabad: Cognizant Technology Solutions, a provider of global IT and business process outsourcing services, announced financial results for the second quarter ended June 30, 2007.
Revenue for the second quarter increased to $516.5 million, up 12 percent from $460.3 million in the first quarter of 2007, and up 53 percent from $336.8 million in the second quarter of 2006. GAAP net income was $82.3 million, or $0.54 per diluted share, compared to $55.1 million, or $0.37 per diluted share, in the second quarter of 2006. GAAP operating margin for the quarter was 17.6 percent. Excluding stock based compensation expense of $9.5 million, non-GAAP operating margin was 19.4 percent, in-line with the Company?s targeted 19 to 20 percent range.
"We are very pleased with our strong second quarter financial results, which further extend our track record of industry-leading growth," said Francisco D'Souza, President and CEO, Cognizant.