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Cognizant Tech revenue up by 51%
By agencies
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Friday, 10 February 2006, 20:30 IST
CHENNAI: Cognizant Technology Solutions Corporation, an information technology services provider, reported a net income of $153.9 million on revenue of $885.8 million for 2005, compared to a net income of $100.2 million on revenue of $586.7 million during 2004.
This marks a 54 percent increase in its net income and 51 percent in annual revenue during 2005 over the previous year, the company said in a statement. The U.S.-based company is having a strong offshore presence in India.
During the year, Cognizant has added over 9,000 professionals to take the headcount to over 24,300. Based on current visibility, the company expects the first quarter 2006 revenue to be at least $275 million.