News
 

Cognizant Announces First Quarter 2012 Results And Expanded Share Repurchase Program
 --- First quarter revenue up 2.9% sequentially and 24.8% year-over-year / Revises guidance for 2012 revenue growth to at least 20% / Expands share repurchase program from $600 million to $1 billion --- 

(pressebox) Taeneck, N.J., 07.05.2012 - Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process outsourcing services, today announced its first quarter 2012 financial results.

Highlights-First Quarter 2012

- Quarterly revenue rose to $1.71 billion, up 24.8% from the year-ago quarter and 2.9% sequentially.

- Quarterly diluted EPS on a GAAP basis was $0.79, compared to $0.67 in the year-ago quarter.

- Quarterly diluted EPS on a non-GAAP basis, which excludes stock-based compensation expense, was $0.86, compared to $0.71 in the year-ago quarter.

- GAAP and non-GAAP diluted EPS includes the impact of $0.02 in net non-operating foreign currency exchange losses.

- Net headcount addition for the quarter was approximately 2,800.

Revenue for the first quarter of 2012 rose to $1.71 billion, up 24.8% from $1.37 billion in the first quarter of 2011. GAAP net income was $243.7 million, or $0.79 per diluted share, compared to $208.3 million, or $0.67 per diluted share, in the first quarter of 2011. Diluted earnings per share on a non-GAAP basis was $0.86. GAAP operating margin for the quarter was 18.6%. Excluding stock-based compensation expense of $31.4 million, non-GAAP operating margin was 20.4%, slightly higher than the Company’s targeted 19-20% range. Reconciliations of non-GAAP financial measures to GAAP operating results and diluted EPS are included at the end of this release.

"Due to a slower than anticipated acceleration in demand as we entered the second quarter, we are adopting a more conservative stance for the remainder of the year and revising our guidance to at least 20% revenue growth for 2012," said Francisco D’Souza, Chief Executive Officer of Cognizant. "We continue to believe that we have the right portfolio of services to sustain our industry leading growth and also meet the changing demands in the market as clients continue to grapple with their dual mandates of cost containment and innovation/business transformation."

"Our solid performance this quarter validates our strategy of continually reinvesting in our business to broaden and strengthen our service offerings," said Gordon Coburn, President. "We continue to have a healthy long-term outlook for the business. Our clients recognize that in Cognizant, they have a partner with a strong consulting oriented and industry focused front-end team combined with a best-in-class global delivery model."

2012 Outlook-Second Quarter and Full Year

The Company is providing the following guidance:

- Second quarter 2012 revenue anticipated to be at least $1.79 billion.

- Second quarter 2012 diluted EPS expected to be $0.80 on a GAAP basis and $0.87 on a non-GAAP basis, which excludes estimated stock-based compensation expense.

- Fiscal 2012 revenue expected to be at least $7.34 billion, up at least 20% compared to 2011.

- Fiscal 2012 diluted EPS expected to be at least $3.36 on a GAAP basis, and $3.62 on a non-GAAP basis, which excludes estimated stock-based compensation expense.

- EPS guidance excludes any future non-operating foreign currency exchange gain or loss.

"Similar to last year, we slightly exceeded our target operating margin during the first quarter-which positions us well to absorb our annual salary increases which will impact us during the second quarter, while maintaining operating margins within our target range for the year," said Karen McLoughlin, Chief Financial Officer. "In addition, we repurchased $43 million of shares under our share repurchase program during the quarter and expanded the program to $1 billion, reflecting confidence in our growth opportunities, our commitment to drive shareholder value, and our ability to generate strong cash flows."

Expansion of Share Repurchase Program

Today, the Company announced that its Board of Directors has authorized the expansion of its existing share repurchase program by $400 million, bringing the total authorization under the current repurchase program to $1 billion. To date, $423 million of shares have been repurchased under this program. In addition, Cognizant's Board has extended the expiration date for the repurchase program to December 31, 2013.

Repurchases under the program may be made in the open market or through privately negotiated transactions in accordance with applicable federal securities laws, including Rule 10b-18. The timing of repurchases and the exact number of shares of common stock to be purchased will be determined by the Company's management, in its discretion, and will depend upon market conditions and other factors. The repurchases will be funded using the Company's cash on hand and cash generated from operations. The program may be extended, suspended or discontinued at any time.

Conference Call

Cognizant will host a conference call May 7, 2012 at 8:00 a.m. (Eastern) to discuss the Company’s first quarter 2012 results. To listen to the conference call, please dial (800) 374-0467 (domestic) and (706) 679-3288 (international) and provide the following conference ID number: 70589605.

The conference call will also be available live via the Internet by accessing the Cognizant website at www.cognizant.com. Please go to the website at least 15 minutes prior to the call to register and to download and install any necessary audio software.

For those who cannot access the live broadcast, a replay will be available by dialing (855) 859-2056 for domestic callers or (404) 537-3406 for international callers and entering 70589605 from a half hour after the end of the call until 11:59 p.m. (Eastern) on Monday, May 21, 2012. The replay will also be available at Cognizant’s website www.cognizant.com for 60 days following the call.

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 Annual Report on 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, 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, 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 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.

A limitation of using non-GAAP operating margin and non-GAAP diluted earnings per share versus operating margin and diluted earnings per share calculated in accordance with GAAP is that non-GAAP operating margin and non-GAAP diluted earnings per share exclude costs, namely stock-based compensation, that are recurring. Stock-based compensation will continue to be for the foreseeable future a significant recurring expense in our business. In addition, other companies may calculate non-GAAP financial measures differently than us, thereby limiting the usefulness of these non-GAAP financial measures as a comparative tool. We compensate for this limitation by providing specific information regarding the GAAP amounts excluded from non-GAAP operating margin and non-GAAP diluted earnings per share and evaluating such non-GAAP financial measures with financial measures calculated in accordance with GAAP.
FirmenIntern
[pressebox.de] · 07.05.2012 · 15:28 Uhr · 201 Views
[0 Kommentare]
Archivierte Business/Presse
 > Seite ( 1 2 3 4 5 ... 91 92 93 )
 

Business/Presse

01.10. 09:02 | (00) Servicestudie: Direktversicherer 2014
01.10. 09:02 | (00) Enterprise Mobility Summit 2014: SEVEN PRINCIPLES ist Premium-Partner
01.10. 09:00 | (00) Laser 2000 und Spectral Engines unterzeichnen exklusive Vertriebsvereinbarung ...
01.10. 08:54 | (00) Intershop verkauft Online-Marketing-Agentur SoQuero an blueSummit
01.10. 08:54 | (00) Neue Fertigungshalle von REAL setzt auf REHAU Systeme
01.10. 08:44 | (00) IT-Forum: "Industrie 4.0 - MEGATREND für Jedermann?! "
01.10. 08:30 | (00) Zauberwort Energieeffizienz
01.10. 08:00 | (00) Mehr Aussteller und dichtes Fachprogramm
01.10. 07:43 | (00) Curaflex Nova® Senso überzeugt Fach-Jury durch Innovationskraft
01.10. 07:29 | (00) Eine Stadt atmet auf
01.10. 07:26 | (00) Honda stellt drei neue Motoren seiner "Earth Dreams Technology"- ...
30.09. 19:31 | (00) Klimaneutral Veranstalten im Kaisersaal Erfurt
30.09. 18:23 | (00) bpi solutions und SHD power hours: Aufbau des richtigen Fachwissens durch best ...
30.09. 17:58 | (00) 10. Tag der Luft- und Raumfahrt in Berlin und Brandenburg zum Thema ...
30.09. 17:51 | (00) Wandtattoos in hoher Qualität zur einfachen Anbringung
30.09. 17:51 | (00) Wann können Prozesse in Deutschland in englischer Sprache geführt werden?
30.09. 17:39 | (00) Softline Gruppe meldet mit Halbjahresbericht 2014 positives EBITDA
30.09. 17:38 | (00) Genauere Analysen durch Datenqualitätsmanagement
30.09. 17:38 | (00) Continental startet AFC Asien Cup 2015 Trophy Tour und wird Sponsor des Team ...
30.09. 17:32 | (00) Rubner Holzbau für Stromversorger Enel: Die erste der beiden größten Holzkuppeln ...
30.09. 17:27 | (00) Neues an der ebam Akademie - Selbstvermarktung für Künstler
30.09. 17:15 | (00) Weiterbildung am Puls der Zeit – Online-Marketing bestens genutzt auch für ...
30.09. 17:14 | (00) Wandtattoos für jeden Raum der Wohnung
30.09. 17:08 | (00) Journey, der neue Trolley für Business-Reisende: Souverän zu jedem ...
30.09. 17:00 | (00) NEXUS erwirbt Archivierungsspezialisten im Gesundheitswesen
30.09. 16:47 | (00) Die Dienstpostenbewertung im Beamtenrecht
30.09. 16:46 | (00) Bridgestone mit neuem Markenauftritt beim Pariser Autosalon
30.09. 16:37 | (00) Direktvermarktung von Solarstrom
30.09. 16:36 | (00) Frischer Wind für 2015
30.09. 16:35 | (00) Bridgestone stellt auf der INTERMOT neue Reifen vor
30.09. 16:35 | (00) Wege zu einer effizienteren Produktion
30.09. 16:17 | (00) Mit "Total Tyre Life" senkt Bridgestone weiter die Gesamtkosten pro km
30.09. 16:17 | (00) Der 9. Oktober 2014, der Mitarbeiter fit macht - Kommunikation auf maximaler ...
30.09. 16:15 | (00) "Kultur trifft Genuss" - ein Rostocker Theatererlebnis, das durch den Magen geht
30.09. 16:15 | (00) Haie haben keine Zahnschmerzen
30.09. 16:14 | (00) Die hyperMILL® 2014 Highlights
30.09. 16:13 | (00) "KUNSTRAUB - RAUBKUNST"
30.09. 16:12 | (00) Beim Hochschulpreis "David-Kopf" zählt Praxisrelevanz
30.09. 16:12 | (00) Herbstlicher Kurzurlaub an der mecklenburgischen Ostseeküste
30.09. 16:10 | (00) Telefoninkasso für Kommunen und Behörden
30.09. 16:09 | (00) Naturfotografie vom Profi lernen
30.09. 16:08 | (00) Bridgestone entwickelt "Total Tyre Care" weiter
30.09. 16:08 | (00) Wenn die Nacht Funken sprüht: XXL-Feuerwerk auf Usedom
30.09. 16:00 | (00) Ausblick zur Direktvermarktung von erneuerbaren Energien - Oktober 2014
30.09. 15:56 | (00) Das automatische Reifen-Luft-Druck-Kontrollsystem (TPMS) von Bridgestone bietet ...
30.09. 15:51 | (00) ToolBox von Bridgestone: Leistungsfähige digitale Lösungen für das ...
30.09. 15:50 | (00) VDI verleiht Ehrenplakette an Prof. Kletti
30.09. 15:48 | (00) Silvesterparty zuhause
30.09. 15:46 | (00) Wachstum in der Schweiz: Nutanix ernennt Florian Koeppli zum Country Manager
30.09. 15:45 | (00) Das richtige Weihnachtsgeschenk
30.09. 15:43 | (00) Denim trifft Nachhaltigkeit
30.09. 15:43 | (00) Weihnachtlicher Genuss
30.09. 15:40 | (00) In der Weihnachtsbäckerei
30.09. 15:40 | (00) Ausbildungsbotschafter geehrt
30.09. 15:38 | (00) Bunt wie die Wälder: Herbstlicher Veranstaltungskalender in Mecklenburg- ...
30.09. 15:38 | (00) Deutscher Fotograf belegt zweiten Platz beim Bridgestone MotoGP(TM) ...
30.09. 15:37 | (00) Weihnachtlich gedeckt
30.09. 15:30 | (00) Märchenhafte Weihnachtszeit
30.09. 15:30 | (00) Härtetest für Mensch und Material: Bridgestone schickt drei Testfahrer mit dem ...
30.09. 15:25 | (00) Cloud-Notebooks und Tablets von HP ermöglichen Anwendererlebnis ohne Kompromisse
30.09. 15:24 | (00) Kick it like a Pro - das neue ZOGGS Kickboard
30.09. 15:23 | (00) Internet-Vorverkauf der PARACELSUS MESSE Düsseldorf erfolgreich gestartet!
30.09. 15:19 | (00) Umwelt Arena: Bridgestone präsentiert energieeffiziente Reifen und ...
30.09. 15:14 | (00) REMONDIS expandiert in Süddeutschland
30.09. 15:13 | (00) Bridgestone richtet sich bei der IAA Nutzfahrzeuge 2014 an Flottenbetreiber
30.09. 15:12 | (00) Krankenversicherung im Studium
30.09. 15:10 | (00) Schmidt: "Ernährungssicherung für alle Menschen ist die Herausforderung des 21. ...
30.09. 15:06 | (00) Zahl der neu abgeschlossenen Lehrverträge um sechs Prozent gestiegen
30.09. 15:02 | (00) Neue Schleifbänder für einen kühlen Schliff ohne Anlauffarben
30.09. 15:00 | (00) Social Media hält immer stärker Einzug in Contact Center
30.09. 14:58 | (00) Staatssekretär Beckmeyer und Industrieminister El Alamy eröffnen die 2. Sitzung ...
30.09. 14:56 | (00) 100 Bewerbungen sind eingegangen, 27 Projekte sollen Geld erhalten
30.09. 14:51 | (00) Bridgestone DUELER Reifen als Erstausrüstung beim neuen Lexus NX
30.09. 14:47 | (00) TH-Team mit Eigenkonstruktion "SUNcaTcHer" Sieger beim ersten regionalen ...
30.09. 14:44 | (00) Konzert mit Musik des 14. und 15. Jahrhunderts im Kloster Königsfelden
30.09. 14:43 | (00) Warum IT-Sicherheit made in Germany wieder Qualitätsmerkmal ist
30.09. 14:40 | (00) Innovationsforum Industrie zum Thema Industrie 4.0 am 13. November 2014 in ...
30.09. 14:40 | (00) Führungen im Grünen in Frankfurt Rhein-Main
30.09. 14:24 | (00) CTE XL wird TESTONA
30.09. 14:18 | (00) EyeVision 3 mit elektrisch verformbarem Objektiv
30.09. 14:01 | (00) Embedded-Lösungen für sicherheitskritische Anwendungen
30.09. 14:01 | (00) move)log®: Lagerverwaltung Software / LVS für medizinischen Großhandel in der ...
30.09. 14:00 | (00) Glasfaser- und Transportapplikationen bis 10G
30.09. 14:00 | (00) Kooperation zwischen Immonet und THOMAS DAILY für mehr Markttransparenz im ...
30.09. 14:00 | (00) Open Source Förderung in neuem Glanz
30.09. 13:56 | (00) EuroBLECH 2014 mit Ausstellerrekord
30.09. 13:51 | (00) Noch freie Studienplätze - Bewerbungen bis 8. Oktober verlängert
30.09. 13:51 | (00) Spitzengespräch zwischen BHT und Evangelischer Landeskirche
30.09. 13:49 | (00) Industrie treibt Wachstum an
30.09. 13:48 | (00) Compliance für Unternehmen: Haftung eines AG-Vorstandes
30.09. 13:43 | (00) Wettbewerb führt Region weiter zusammen
30.09. 13:41 | (00) INTERPOL und Trend Micro bauen Zusammenarbeit aus
30.09. 13:36 | (00) Chancen zur Beendigung der Arbeitslosigkeit rückläufig
30.09. 13:29 | (00) Die Idee und die Angst vor dem Diebstahl
30.09. 13:29 | (00) Konzert im Albertinum/ Dirigentenänderung
30.09. 13:28 | (00) Managed Services for Validation
30.09. 13:25 | (00) Don Nice
30.09. 13:21 | (00) BondExpo 2014: Professionelle Dosiertechnik von ViscoTec
30.09. 13:15 | (00) Geschäftsjahr 2013/2014
30.09. 13:08 | (00) Das Dokumentenmanagementsystem für Inkassounternehmen - mit lobodms ...
 

News-Suche

 

News-Archiv