iSoftStone Holdings Ltd. (ISS: Quote) posted first-quarter net income of $3.3 million versus $5.2 million last year. Earnings per American Depositary Share, or ADS, were $0.06 compared to $0.09 a year ago.
Non-GAAP net income rose 19% to $7.3 million from $6.2 million in the first quarter of 2011. Non-GAAP earnings per ADS grew to $0.12 from $0.10 in the previous year.
Net revenues surged 51.7% to $86.3 million from $56.9 million in the prior year.
Analysts polled by Thomson Reuters expected the company to earn $0.13 per share on revenues of $79.52 million for the quarter. Analysts' estimates typically exclude special items.
For the second quarter of 2012, iSoftStone expects net income to be at least $4.3 million. Non-GAAP net income for the quarter is expected to be at least $8.2 million and non-GAAP earnings per ADS to be at least $0.14. Net revenues for the second quarter are anticipated to be at least $90 million. Analysts expect the company to earn $0.18 per share on revenues of $89.35 million for the quarter.
For 2012, the company expects net income to be at least $31 million. On a non-GAAP basis, net income is expected to be at least $45 million and earnings per ADS is expected to be at least $0.73. Net revenues in 2012 are expected to be at least $382 million. Analysts expect the company to earn $0.74 per share on revenues of $375.11 million for the year.
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by RTT Staff Writer
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