Forbes names Syntel to 'Hot Shots' list for fourth time
By siliconindia   |   Tuesday, 21 October 2003, 19:30 IST
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TROY: Syntel, Inc. (Nasdaq: SYNT - News) announced its inclusion today in Forbes' eighth annual "The Best Small Companies" listing, the magazine's ranking of the fastest-growing entrepreneurial companies. Syntel ranked 80th on the list. This is the fourth time Syntel has been included on the list, moving up from the 151st spot last year. The list is a "who's who" of publicly-traded companies with annual revenues between $5 million and $600 million. Forbes stated that among other factors, profitability was the key during this "tempest-tossed year of continued economic weakness and market upheaval." "We're pleased to have the financial track record to continue making this list," said Bharat Desai, Chairman and CEO of Syntel. "Our climb in the rankings for three consecutive years is a testament to our solid business strategy of delivering high value technology solutions to our global customers." To make the Forbes list, companies are evaluated based on a number of criteria, including five-year sales and earnings-per-share (EPS) growth rates of at least five percent. The rankings are determined by weighing a combination of return on equity, sales, relative stock price strength, and earnings-per-share growth each measured during the past five years and the most recent four quarters. The feature appears in the October 27 issue of Forbes Magazine

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