Syntel Inc. (SYNT), a global information technology services and Knowledge Process Outsourcing company announced financial results for the third quarter, ended September 30, 2012. Profit per share was $1.23 compared to $0.63 prior year. Net income increased to $51.48 million from $26.21 million last year.
Net revenues increased to $186.41 million from $167.63 million last year. During the third quarter, Applications Outsourcing accounted for 75 percent of total revenue, with Knowledge Process Outsourcing at 15 percent, e-Business contributing eight percent and TeamSourcing at two percent. The company's gross margin was 45.5 percent in the third quarter, compared to 39.8 percent in the prior-year period.
Analysts polled by Thomson Reuters expected the company to report profit per share of $0.95 on revenue of $189.30 million for the quarter. Analysts' estimates typically exclude special items.
The company currently expects 2012 revenue of $730 million to $735 million and profit per share in the range of $4.36 to $4.40. Analysts expect the company to report 2012 profit per share of $3.96 on revenue of $734.65 million.
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