Cognizant Q2-2011 net income rises nearly 21 per cent to $208 million
02 Aug 2011
Cognizant Technology Solutions Corporation today reported a net income of $208.0 million, or $0.67 per diluted share during April-June 2011, compared to $172.2 million, or $0.56 per diluted share, in the second quarter of 2010.
Diluted earnings per share on a non-GAAP basis was $0.72 while GAAP operating margin for the quarter was 18.2 per cent, the company said in a stock market filing.
Cognizant, a leading provider of information technology, consulting, and business process outsourcing services, said its quarterly revenue rose 34.4 per cent to $1.485 billion from $1.105 billion in the year-ago quarter and 8.3 per cent sequentially.
Quarterly diluted EPS on a GAAP basis was $0.67, compared to $0.56 in the year-ago quarter while EPS on a non-GAAP basis, which excludes stock-based compensation expense, was $0.72, compared to $0.59 in the year-ago quarter.
Cognizant added 7,100 professions to its workforce during the quarter.
GAAP net income was $208.0 million, or $0.67 per diluted share, compared to $172.2 million, or $0.56 per diluted share, in the second quarter of 2010. Diluted earnings per share on a non-GAAP basis was $0.72.
