Cognizant is Forbes best small company

Monday, 18 October 2004, 07:00 Hrs
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NEW YORK: Forbes magazine has ranked Nasdaq-listed IT services company, Cognizant Technology Solutions Inc, number one in its annual listing of 200 Best Small Companies for the second consecutive year.

This is the fifth time the New Jersey-based company, which has development centres in Chennai, Kolkata, Pune, Hyderabad and Bangalore, has been named in the list.

"We attribute the consistency of our performance in the Forbes' rankings to Cognizant's focus on IT solutions that deliver measurable business benefits to our customers," the company's president Lakshmi Narayanan said.

This performance translates into strong financial performance based on which the magazine bases its rankings, said Narayanan, who joined Cognizant in 1994 after rising through the ranks at Tata Consultancy Services where he began his career.

In order to qualify for the list, Forbes requires each company to demonstrate a sales figure of $5 million to $750 million, net profit margins greater than five percent and a share price above $5.

Earlier this year, BusinessWeek magazine had ranked Cognizant the number one information technology firm in its annual listing of Hot Growth Companies.

Kumar Mahadeva was Cognizant's chairman and chief executive prior to Narayanan.

Source: IANS
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