Computeruser.com
Latest News

Cognizant Reports Fourth Quarter and Full Year 2010 Results

TEANECK, N.J. Feb. 7, 2011

Highlights – Fourth Quarter 2010

  • $1.31 billion
  • $0.66 $0.47
  • $0.70 $0.50
  • Net headcount addition for the quarter exceeded 8,300; year-end headcount was approximately 104,000.

$1.31 billion $902.7 million $206.2 million $0.66 $144.0 million $0.47 $0.70 $14.9 million

"We are pleased with how quickly our business rebounded during 2010 – a validation of our strategy of continuing to invest through the downturn," said Francisco D’Souza, President and Chief Executive Officer of Cognizant. "As our clients continue to recover from the recent economic turmoil, it’s clear that our industry stands at yet another inflection point. Clients increasingly turn to us as they look to outsource a broader range of services and simultaneously address the secular and technological shifts impacting their industries. We believe that these trends, and our resilience in meeting them, should provide strong support for growth as we enter 2011."

Highlights – Full Year 2010

  • $4.59 billion
  • $2.37 $1.78
  • $0.14 $2.51 $1.90

$4.59 billion $3.28 billion $733.5 million $2.37 $535.0 million $1.78 $2.51 $57.0 million

First Quarter & Full Year 2011 Outlook

The Company is providing the following guidance:

  • $1.36 billion
  • $0.63 $0.67 $0.04
  • $5.79 billion
  • $2.68 $2.85 $0.17
  • Due to continued volatility in the currency markets, EPS guidance excludes any non-operating foreign currency exchange gain or loss.

Gordon Coburn $300 million $2.2 billion

Conference Call

February 7, 2011 9:00 a.m.

www.cognizant.com

11:59 p.m. Monday, February 14, 2011 www.cognizant.com

About Cognizant

Teaneck, New Jersey December 31, 2010 www.cognizant.com

Forward-Looking Statements

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

About Non-GAAP Financial Measures

To supplement the consolidated financial statements presented in accordance with GAAP, this press release includes the following measures defined by the Securities and Exchange Commission as non-GAAP financial measures: non-GAAP operating margin and non-GAAP diluted earnings per share. These non-GAAP measures are not based on any comprehensive set of accounting rules or principles and should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures, the financial statements prepared in accordance with GAAP and reconciliations of Cognizant’s GAAP financial statements to such non-GAAP measures should be carefully evaluated.

We seek to manage the company to a targeted operating margin, excluding stock-based compensation costs and applicable stock-based Indian fringe benefit tax, of 19% to 20% of revenues. Accordingly, we believe that non-GAAP operating margin and non-GAAP diluted earnings per share, excluding stock-based compensation costs and applicable stock-based Indian fringe benefit tax, are meaningful measures for investors to evaluate our financial performance. For our internal management reporting and budgeting purposes, we use financial statements that do not include stock-based compensation expense and applicable stock-based Indian fringe benefit tax for financial and operational decision making, to evaluate period-to-period comparisons and for making comparisons of our operating results to those of our competitors. Moreover, because of varying available valuation methodologies permitted under U.S. GAAP and the variety of award types that companies can use, we believe that providing non-GAAP financial measures that exclude stock-based compensation expense allows investors to make additional comparisons between our operating results to those of other companies. Accordingly, we believe that the presentation of non-GAAP operating margin and non-GAAP diluted earnings per share, when read in conjunction with our reported GAAP results, can provide useful supplemental information to our management and investors regarding financial and business trends relating to our financial condition and results of operations.

April 1, 2009

– tables to follow –

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In thousands, except per share amounts)

Three Months Ended

Twelve Months Ended

December 31,

December 31,

2010

2009

2010

2009

Revenues

$ 1,310,602

$ 902,721

$ 4,592,389

$ 3,278,663

Operating expenses:

Cost of revenues (exclusive of depreciation and amortization expense shown separately below)

758,023

520,796

2,654,569

1,849,443

Selling, general and administrative expenses

279,921

190,678

972,093

721,359

Depreciation and amortization expense

28,037

24,339

103,875

89,371

Income from operations

244,621

166,908

861,852

618,490

Other income (expense), net:

Interest income

6,139

6,139

25,793

15,895

Other, net

(2,216)

(4,450)

(9,065)

2,566

Total other income (expense), net

3,923

1,689

16,728

18,461

Income before provision for income taxes

248,544

168,597

878,580

636,951

Provision for income taxes

42,378

24,593

145,040

101,988

Net income

$    206,166

$ 144,004

$    733,540

$    534,963

Basic earnings per share

$          0.68

$       0.49

$          2.44

$          1.82

Diluted earnings per share

$          0.66

$       0.47

$          2.37

$          1.78

Weighted average number of common  

 shares outstanding – Basic

303,631

295,602

300,781

293,304

Weighted average number of common

 shares outstanding – Diluted

311,776

304,615

309,137

301,115

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited)

(In thousands)

December 31,

December 31,

2010

2009

Assets

Current Assets

 Cash and cash equivalents

$            1,540,969

$            1,100,930

 Short-term investments

685,419

298,402

 Trade accounts receivable, net of allowances of $20,991

 and $16,465, respectively

901,308

626,288

 Unbilled accounts receivable

112,960

82,952

 Deferred income tax assets, net

96,164

73,791

 Other current assets

181,414

125,205

          Total Current Assets

3,518,234

2,307,568

Property and equipment, net

570,448

481,516

Long-term investments

151,131

Goodwill

223,963

192,372

Intangible assets, net

85,136

75,757

Deferred income tax assets, net

109,808

80,618

Other assets

75,485

49,278

Total Assets

$            4,583,074

$            3,338,240

Liabilities and Stockholders’ Equity

Current Liabilities

Accounts payable

$                 75,373

$                 54,640

Deferred revenue

84,590

51,605

Accrued expenses and other current liabilities

770,763

540,363

      Total Current Liabilities

930,726

646,608

Deferred income tax liabilities, net

4,946

Other noncurrent liabilities

62,971

38,455

Total Liabilities

998,643

685,063

Stockholders’ Equity

3,584,431

2,653,177

Total Liabilities and Stockholders’ Equity

Leave a comment

seks shop - izolasyon
basic theory test book basic theory test