Business OpportunitiesCognizant Q3 income up 21% at $136.57 mn
IT and business process outsourcing firm Cognizant today reported 21 per cent jump in its third quarter net income at $136.57 million boosted by strong growth across industry sectors.
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In the year-ago period, the company had a net income of $112.82 million, Cognizant said in a statement.
"We experienced strong organic growth across all industry sectors, geographies and service lines this quarter. The sequential revenue increase of $76.9 million is largest in the history of the company," Cognizant President and CEO Francisco D’Souza said.
Revenue for the third quarter of 2009 rose to $853.48 million as against $734.7 million in the same quarter a year ago.
Cognizant anticipates its fourth quarter revenue to be at least at $880 million, while the revenue for the year 2009 is expected to be $3.25 billion.
"We are delighted that despite the ongoing weak global economic environment we delivered strong, broad-based revenue growth during the quarter. Our long-held strategy of investing in differentiated domains, relationships and service offering capabilities is enabling us to win marquee clients as well as grow our existing relationships," Cognizant Chief Financial and Operating Officer Gordon Coburn said.
During the quarter, Cognizant added about 3,900 professionals, taking the global headcount to more than 68,000, the statement said.