Cognizant Q1 net income up 8.5% to $ 75.4mn

ALSO READ News and Notices about See interviews with Management See what other Experts & Brokerages are saying about See previous Results of

Cognizant has come out with first quarter CY07 results. The company reported net income of USD 75.4 million in first quarter as against USD 69.5 million in previous quarter, a growth of 8.5% and revenues of USD 460.3 million versus USD 424.4 million, up by 8.5%.
 
Guidance CY07

• Raises CY07 revenue guidance to USD 2.07 billion from USD 2.04 billion
• Expects to end CY07 with 45.36% growth in revenues
• To end the year with EPS of USD 2.34 on a non-GAAP basis
• Total headcount by end of 2007 expected to be approx 55,000

Q2 Guidance

• Revenues of USD 500 million; 9% sequential growth
• Targets operating profit margin between 19-20%