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Our Bureau

Chennai , May 4

Cognizant Technology Solutions Corporation, a US-based provider of information technology services with development centres in India, reported a net income of $53.6 million for the first quarter 2006 compared with $32.0 million in the first quarter of 2005.

Quarterly revenue increased to $285.5 million, up 57 per cent from the year-ago quarter, according to a company press release.

Based on the current visibility, the Nasdaq-listed company revised its full year revenue guidance upwards to at least $1.3 billion, 47 per cent revenue growth guidance over calendar 2005. At the beginning of the calendar year, Cognizant indicated 42 per cent revenue growth guidance at $1.26 billion, the release said.

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