Cognizant Technology Solutions Corp. (CTSH) reported that its fourth quarter GAAP net income was $144.0 million or $0.47 per share, compared to $112.3 million or $0.38 per share, in the fourth quarter of 2008. Quarterly earnings per share on a non-GAAP basis, which excludes stock-based compensation expense, was $0.50, compared to $0.41 in the year-ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share for the quarter. Analysts' estimates typically exclude special items.
Revenue for the fourth quarter was $902.7 million, up 20% from $753.0 million in the fourth quarter of 2008. Twenty two analysts had consensus revenue estimate of $887.85 million for the quarter.
For the First quarter 2010, earnings per share are expected to be $0.48 on a GAAP basis and $0.52 on a non-GAAP basis, which excludes $0.04 of estimated stock-based compensation expense. Revenue is expected anticipated to be at least $935 million. Analysts expect the company to report earnings of $0.47 per share on revenues of $911.62 million for the first-quarter.
For fiscal 2010, revenue is expected to be at least $3.935 billion, up at least 20% compared to 2009. EPS is expected to be at least $2.03 on a GAAP basis, and $2.19 on a non-GAAP basis, which excludes $0.16 of estimated stock-based compensation expense. Analysts expect the company to report earnings of $2.01 per share on revenues of $3.91 billion for fiscal 2010.
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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.