Syntel Q3 Profit Increases - Quick Facts

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Stocks staged a significant recovery attempt after pulling back sharply in early trading on Wednesday but still ended the day modestly lower. The major averages gave back ground after moving sharply higher over the two previous sessions. Three scientists have shared the Nobel Prize for Chemistry for their work that led to the development of linking molecules together, known as click chemistry, and bioorthogonal chemistry. Morten Meldal and K. Barry Sharpless have laid the foundation for a functional form of chemistry - click chemistry - in which molecular building blocks snap together quickly and efficiently. Carolyn R. Bertozzi The Institute for Supply Management released a report on Wednesday showing a modest slowdown in the pace of growth in U.S. service sector activity in the month of September. The ISM said its services PMI edged down to 56.7 in September from 56.9 in August, although a reading above 50 still indicates growth in the sector.
Follow RTT