iSoftStone Holdings Limited's (ISS) net income decreased $0.3 million or 9.9% to $3.0 million in the first quarter 2013 from $3.3 million in the first quarter 2012. Earnings per ADS were $0.05 in the first quarter 2013 and $0.06 in the first quarter 2012.
Non-GAAP net income for the quarter decreased $1.7 million or 23.8% to $5.6 million from $7.3 million last year. Non-GAAP earnings per ADS were $0.10 in the first quarter 2013 and $0.12 in the first quarter 2012.
Net revenues increased $9.5 million or 11.0% to $95.9 million in the first quarter 2013 from $86.3 million in the first quarter 2012, mainly due to strong demand for IT services from clients in Greater China, partially offset by lower demand from some global clients, primarily in Japan and the United States.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.09 per share on revenues of $93.93 million for the first-quarter. Analysts' estimates typically exclude special items.
For the second quarter 2013, the company expects net income to be at least $4.8 million, Non-GAAP net income of at least $8 million, and net revenues of at least $108 million. Analysts expect the company to report revenues of $111.02 million for the second-quarter.
For the year 2013, the company anticipates net income to be at least $28 million, non-GAAP net income of at least $41 million, and net revenues of at least $467 million. Analysts expect the company to report revenues of $463.28 million for fiscal 2013.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.