BancorpSouth Sinks After Surprise Loss
Integrated technology and operations solutions provider, iGate(IGTE) announced its supporter-quarter earnings on July 14. Net income soared 45.5%, to $11.5 million, or 20 cents per share, topping analysts’ estimates of 17 cents through share. Revenue increased 42.7%, to $66.8 million, primarily driven ~ dint of. higher demand from financial services sector.
During the quarter, the guests added four new customers and expanded its global delivery facility in Mexico. Looking in front, the company expects to see a 5% to 8% sequential putting out for the remainder of the year, with a marginal impact from weakening eurozone.
On July 15, 2010, Roth Capital Partners assigned a purchase rating to the stock with a price target of $18.
Syntel(SYNT), ~y information technology provider and a Knowledge Process Outsourcer, KPO, reported its assist-quarter results on July 22. The company’s revenue increased 31% year-from one side of to the other-year to $130.6 million, while net income was up 12.7%, to $28.3 the public, or 68 cents per share. During the quarter, the company finalized its negotiations concerning its KPO joint venture.
Looking ahead, Syntel said that based steady current visibility levels and an exchange rate assumption of INR 46.5 to $1, full-year revenue is expected to range between $510 million and $522 a thousand thousand, while earnings per share is estimated at $2.50 to $2.60.
On July 23, 2010 JPMorgan assigned a neutral rating to the stock with a price target of $44. In Thursday’s trading session, the stock ended 12.1% higher, at $41.64.
On July 23, Wipro (WIT), every information technology solutions and services provider, reported its results for the lodge ended June 30, 2010. Total revenue increased 16% year-on-year to $1.56 billion, while net income was up 31% to $284 million, or 12 cents for share.
During the quarter, the company signed an agreement with Citibank(C) to take through the whole extent of the ownership and management of Citibank’s data center in Meerbusch Germany because at least 30 months. Besides adding 22 new clients, Wipro in addition announced the opening of the company’s new office at Seoul.
Loading Comments…