IT and BPO service provider iGate Corp [IGTE] has announced flat consolidated revenues for the three months to the end of September, as it dipped back into the red.
The Pennsylvania-based company reported third-quarter revenue of $72.5 million compared to $72.1 million in the year-ago period. It made a net loss of $1.4 million compared to a net profit of $1.3 million in the third quarter 2002.
The main reason for the loss is that its SG&A expenses have increased since the completion of the acquisition of India-based Quintant, whose loss-making call center and infrastructure management businesses are described as early stage entities.
Earlier this month iGate announced the acquisition of information technology solutions and services business of Bangalore-based IdeaSpace Solutions Ltd for $1.6 million, adding 170 employees, many of whom are specialists in banking technology and operations.
This article was based on material originally published by ComputerWire.