| Cognizant Q2 net up 49% to $82.3 mn |
| BS Reporter / Mumbai August 1, 2007 |
| New Jersey-based Cognizant Technology Solutions Corporation posted 49 per cent growth in net profit at $82.3 million for the second quarter ended June 30, compared with $55.1 million in the same quarter a year ago, on the back higher revenues driven by growth across business segments. Net profit for the second quarter was up 9 per cent sequentially from $75.4 million in the previous quarter. Revenues for the second quarter soared to $516.5 million, up 53 per cent from $336.8 million in the second quarter of 2006 and up 12 per cent from $460.3 million in the first quarter of 2007. The company surpassed the $2-billion annual revenue run rate during the second quarter. Operating margins for the second quarter were 17.6 per cent. Excluding a stock-based compensation expense of $9.5 million, non-GAAP operating margin was 19.4 per cent, in line with the company |
