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Infosys Technologies Reports Results for the Quarter ended September 30, 2004

Tuesday 12 October 2004 10:28 CET | News

Infosys Technologies has reported financial results for its second quarter ended September 30, 2004. Revenues for the quarter aggregated $ 379 million, up 51% from $ 251 million for the quarter ended September 30, 2003. Europe accounts for 21.4 % of total revenue.

Net income was $ 97 million ($ 65 million for the quarter ended September 30, 2003) and earnings per ADS was $ 0.36 ($ 0.25 for the quarter ended September 30, 2003*). * adjusted for the two for one stock dividend distributed on July 6, 2004. Each ADS represents one equity share. Highlights Results for the quarter ended September 30, 2004 - Second quarter revenues at $ 379 million, up 51% from the corresponding quarter last fiscal - Earnings per American Depositary Share (ADS) increased to $ 0.36 from $ 0.25* in the corresponding quarter last fiscal - 32 new clients were added during the quarter for Infosys and its subsidiaries - Net addition of 5,010 employees for the quarter for Infosys and its subsidiaries - 32,949 employees as on September 30, 2004 for Infosys and its subsidiaries * adjusted for the two for one stock dividend distributed on July 6, 2004. Each ADS represents one equity share. Outlook for the quarter ending December 31, 2004 and the fiscal year ending March 31, 2005 - Consolidated net revenues expected to be between $ 407 million and $ 410 million for the quarter ending December 31, 2004, (growth of 48% to 49%) and between $ 1,555 million and $ 1,561 million for the fiscal year ending March 31, 2005; growth of 46% to 47%. - Consolidated earnings per ADS* expected to be $ 0.38 for the quarter ending December 31, 2004, (growth of 41%) and $ 1.46 for the fiscal year ending March 31, 2005; growth of 42%. * adjusted for the two for one stock dividend distributed on July 6, 2004. Each ADS represents one equity share. Infosys business solutions continued to make clients in the Retail industry more efficient and competitive. A leading discount retailer in the US has selected Infosys as a preferred provider of IT consulting for a strategic sourcing initiative. Additionally, a major European Retailer chose Infosys to implement an RFID solution. This solution enables the retailer to achieve faster throughput and high visibility in Retail Supply Chain processes. Energy and Utilities companies are also leveraging the power of technology in increasing customer focus. A Fortune 500 company in the US chose Infosys to provide application development and maintenance services in the area of customer relationship management. A large utility company is using Infosys’ expertise in rewriting its customer information systems. One of the top 10 technology companies in the world, and one of the largest companies in the IT storage space are partnering with Infosys for the development of a storage management product.


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Categories: Payments & Commerce | Payments General
Countries: World
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