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News >> Technology >>
Infosys raises U.S. GAAP earnings
By agencies
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Monday, 02 May 2005, 19:30 IST
BANGALORE:IndiaÂ’s second biggest software services company, Infosys Technologies Ltd. has marginally raised its earnings estimate for the year ending March 2006 due to a change in accounting requirements under U.S. rules, the company said.
Infosys said in a filing to the U.S Securities and Exchange Commission that its earnings per ADS has been revised to $1.95-$1.98, compared with $1.92-$1.95 announced April 14.
After Infosys had put out its forecast, the U.S. SEC said that a change in share-based payment accounting was to become effective from April 2006 onwards only, the company said.
Infosys said there was no revision in the outlook of consolidated revenues or any estimates given under the Indian accounting standards.