Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
Cognizant's Q4 profit zooms 94%
By siliconindia
|
Wednesday, 11 February 2004, 20:30 IST
PRINCETON: Cognizant Technology Solutions, which manages computer systems and writes software with a staff based mostly in India, said fourth-quarter profit almost doubled as sales gained 61 per cent.
New Jersey-based Cognizant said it will hire 4,000 employees in India this year to meet demand, and it has raised prices while many US rivals have been forced to cut them as competition increases.
Net income rose to $17.7 million from $9.14 million a year earlier. Sales increased to $108.2 million from $67 million, Cognizant said in a statement distributed by Business Wire.
Demand is rising for inexpensive computer and software services handled by overseas workforces such as Cognizant's. The company won a five-year order from Credit Suisse AG in October for online banking work.