Science & Technology
Science and Technology
Science and Technology
Sun, February 15, 2009
Sat, February 14, 2009
Fri, February 13, 2009
Schaeffer's Street Stories: Cognizant Technology Solutions Corporation Fights to Hold Above Resistance
CINCINNATI--([ BUSINESS WIRE ])--Cognizant Technology Solutions Corporation (NASDAQ: CTSH) marched into the earnings confessional this morning to report that its fourth-quarter net income climbed 17% to $112.3 million, or 38 cents per share, up from $96.3 million, or 32 cents per share, a year earlier. Excluding stock-compensation costs and other impacts, earnings increased to 41 cents from 36 cents. Revenue jumped 26% to $753 million.
Meanwhile, the firm projected first-quarter and full-year results largely above analysts' expectations. The company said based on global economic weakness and recent customer feedback, it predicts first-quarter earnings of 41 cents to 42 cents per share on revenue of at least $735 million. The consensus estimate stands at 38 cents per share on revenue of $746 million. Cognizant also forecast 2009 earnings of at least $1.72 per share and revenue of at least $3.1 billion. Analysts expected $1.58 per share and $3.08 billion, respectively.
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