Cognizant Technology Solutions Corp. - Conference Presentation Calls

Cognizant Technology Solutions Corp. expected to Report Fiscal Year 2009 Results on February 8, 2010. This event was calculated by Capital IQ (Created on November 5, 2009).

Cognizant Technology Solutions Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended September 2009. For the quarter, the company reported revenue rose to $853.5 million, up 16% from $734.7 million in the third quarter of 2008. GAAP net income was $136.6 million or $0.45 per diluted share compared to $112.8 million, or $0.38 per diluted share, in the third quarter of 2008. Diluted earnings per share on a non-GAAP basis was $0.48 compared to $0.40 for the same period last year. GAAP operating margin for the quarter was 19%. Earnings for the quarter included $2.9 million of net pre-tax non-operating foreign exchange losses. Reconciliations of non-GAAP financial measures to GAAP operating results and diluted EPS are included at the end of this release. The company reported income from operations of $161.8 million and income before provision for income taxes of $163.7 million compared to income from operations of $142.6 million and income before provision for income taxes of $133.2 million for the same period last year. The company reported adjusted income from operations of $172.4 million compared to $152.8 million for the same period last year. For the nine months, the company reported net income of $390.96 million or $1.30 diluted earnings per share on the revenue of $2,375.9 million compared to net income of $379.1 million or $1.06 diluted earnings per share on the revenue of $2,063.3 million for the same period last year. The company reported income from operations of $451.6 million and income before provision for income taxes of $468.3 million compared to income from operations of $374 million and income before provision for income taxes of $379.1 million for the same period last year. The company reported adjusted income from operations of $484.5 million and adjusted diluted per share of $1.39 compared to adjusted income from operations of $414.4 million and adjusted diluted per share of $1.18 for the same period last year. For the fourth quarter 2009, the company announced revenue anticipated to be at least $880 million. Diluted earnings per share expected to be $0.45 on a GAAP basis and $0.49 on a non-GAAP basis, which excludes $0.04 of estimated stock-based compensation expense. For the full year 2009, the company expected revenue to be at least $3.255 billion, up at least 15.5% compared to 2008. Diluted EPS expected to be $1.75 on a GAAP basis, and $1.88 on a non-GAAP basis, which excludes $0.13 of estimated stock-based compensation and stock-based Indian fringe benefit tax expense.