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Friday, Nov 03, 2006

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Info-Tech - Financial Performance
Corporate Results - Software
Cognizant Q3 revenue up 60 pc

Our Bureau

Chennai , Nov 2

Cognizant Technology Solutions Corporation reported net income of $61 million for the third quarter ended September 30, 2006, compared with $40.6 million in the third quarter of 2005. Quarterly revenue increased to $377.5 million, up 60 per cent from the year-ago quarter.

The company expects fiscal 2006 revenue to be at least $1.405 billion, up approximately 59 per cent compared with 2005.

During the third quarter, the company added 4,700 employees, mostly at its India development centres.

Total headcount by end of 2006 is expected to be around 38,000, says a company press release.

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