Cognizant Technology Solutions Corporation Enters into Credit Agreement with JPMorgan Chase Bank, N.A
Nov 20 14
On November 20, 2014, Cognizant Technology Solutions Corporation entered into a credit agreement with the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent for the Lenders. The Credit Agreement provides for (i) an unsecured term loan facility from the Lenders in the amount of $1.0 billion and (ii) an unsecured revolving credit facility from the Lenders of up to $750 million. The company has borrowed $1.0 billion under the term loan facility to finance a portion of the Acquisition purchase price. The revolving credit facility is available for general corporate purposes. No amounts have been drawn under the revolving credit facility.
Cognizant Technology Solutions Corporation Presents at BMO Capital Markets 2014 Technology & Digital Media Conference, Dec-10-2014
Nov 13 14
Cognizant Technology Solutions Corporation Presents at BMO Capital Markets 2014 Technology & Digital Media Conference, Dec-10-2014 . Venue: Grand Hyatt New York, New York, New York, United States.
Cognizant Technology Solutions Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter and Full Year of 2014
Nov 5 14
Cognizant Technology Solutions Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenues of $2,581,009,000 against $2,305,723,000 a year ago. Income from operations was $457,513,000 against $437,359,000 a year ago. Income before provision for income taxes was $463,739,000 against $439,198,000 a year ago. Net income was $355,624,000 against $319,627,000 a year ago. Basic and diluted earnings per share were $0.58 against $0.53 a year ago. Non-GAAP income from operations was $503,673,000 against $469,502,000 a year ago. Non-GAAP diluted earnings per share were $0.66 against $0.59 a year ago. Capital expenditures were approximately $55.6 million during the quarter.
For the nine months, the company reported revenues of $7,520,451,000 against $6,487,701,000 a year ago. Income from operations was $1,405,470,000 against $1,230,069,000 a year ago. Income before provision for income taxes was $1,438,765,000 against $1,236,778,000 a year ago. Net income was $1,076,410,000 against $904,246,000 a year ago. Diluted earnings per share were $1.76 against $1.48 a year ago. Non-GAAP income from operations was $1,536,523,000 against $1,334,108,000 a year ago. Non-GAAP diluted earnings per share were $1.94 against $1.68 a year ago.
For the fourth quarter of 2014, the company expected revenue to be between $2.61 billion and $2.64 billion. Non-GAAP diluted EPS expected to be at least $0.63.
For the full year of 2014, the company expected revenue to be between $10.13 billion and $10.16 billion. Non-GAAP diluted EPS expected to be at least $2.57.
Vorwerk Selects Cognizant for a Wide Range of IT Services
Oct 24 14
Cognizant announced that it has been selected by the Vorwerk Group to transform its IT infrastructure and provide application services. Through this transition, Vorwerk Group will be able to standardize and centralize its IT environment to a higher degree while driving down costs. As part of the six-year engagement, Cognizant will provide Vorwerk with integrated service management, data center, network and application management services. Cognizant will also deliver end-user computing services and field services as well as manage a new service desk, providing help to Vorwerk's employees in a variety of languages. The services desk will be a central point of contact for the company, assisting staff in German, Italian, French, English, Spanish, Portuguese, Czech and Polish. By partnering with Cognizant, Vorwerk will focus more strongly and efficiently on its core competencies. Increased centralization will also make the Group's IT environment more transparent, enabling Vorwerk to proactively monitor, manage, and improve its IT infrastructure even further.