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Pactera Technology Turns To Loss In Q2; CFO Huang To Resign - Quick Facts

Pactera Technology International Ltd. (PACT) reported second-quarter 2013 net loss attributable to the company of $1.0 million, or $0.01 per share, versus a $6.4 million, or $0.15 per share profit in the 2012 period. On a non-GAAP basis, net income amounted to $11.5 million, or $0.14 per ADS in the second quarter of 2013.

Net revenues for the recent period totaled $163.1 million, compared with the prior-year figure of $71.8 million.

Separately, Pactera announced that its Chief Financial Officer, Sidney Huang, would leave the firm, effective September 15, 2013, to accept a senior executive position at a leading player in the fast-growing Internet sector in China. Upon Huang's departure, Helena Chen, the company's Senior Vice President and Corporate Controller, would become the interim CFO until a successor is named. Huang would remain as an advisor to the company for an extended period after the initial transition to ensure a smooth transition.

by RTTNews Staff Writer

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