New Delhi (PTI): Nasdaq listed Information technology services provider Cognizant Technology Solutions on Friday said its net income for the fourth quarter ended December 31 stood at USD 112.3 million, a 16.61 per cent jump form a year ago period.
The company had reported a net income of USD 96.3 million in the fourth quarter of 2007, a company statement said. Revenue for the fourth quarter of 2008 rose to USD 753.0 million, up 26 per cent from USD 600 million reported in the fourth quarter of 2007.
For the year ended December 31, 2008, the company posted a revenue of USD 2.816 billion, up 32 per cent from USD 2.136 billion in 2007. The net income for the year 2008 was USD 430.8 million, as compared to USD 350.1 million, in 2007.
"We are pleased with our fourth quarter and full year 2008 financial performance. We exceeded our most recent revenue guidance and continued to generate industry-leading growth," Cognizant President and CEO Francisco D'Souza said.
Going forward Cognizant expects its first quarter 2009 revenue to be at least USD 735 million. For the full year of 2009 the company is likely to post revenue of at least USD 3.1 billion, up at least 10 per cent compared to 2008. the hindu
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