Operating income up 47%
Cognizant Technology Solutions has reported total revenues of $1.31bn for the fourth quarter of 2010, an increase of 45% compared to $902.7m for the same quarter in 2009.
The company’s operating income for the quarter was $245m, which is an increase of 47% compared to $167m for the same period last year.
For the quarter ended 31 December 2010, the company posted net income of $206.2m, or $0.66 per diluted share, compared to $144m, or $0.47 per diluted share, for the same period in the previous year.
The company’s revenue, operating income and net income for the fiscal year 2010 increased to $4.6bn, $861.9m and $733.5m, respectively, from $3.3bn, $618.5m and $535m for the last year.
The company anticipates first quarter 2011 revenues to be at least $1.36bn and diluted earnings per share to be $0.63.
For fiscal 2011, it expects revenue to be at least $5.79bn, up at least 26% compared to 2010.