Infosys Technologies Announces Results for the Quarter Ended December 31, 2006.Q3 Revenues Grew Sequentially by 10.1% Guidance Revised Upwards; Revenues Expected to Grow by 43.6% in Fiscal 2007 BANGALORE, India -- Infosys Technologies Limited (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : INFY INFY Infosys Technologies Ltd (stock symbol) ): Highlights Consolidated results for the quarter ended December 31, 2006 * Third quarter revenues at $ 821 million, up 46.9% from the corresponding quarter last fiscal * Earnings per American Depositary Share American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. (ADS)(a) increased to $ 0.39 from $ 0.26 in the corresponding quarter last fiscal * 43 new clients were added during the quarter by Infosys and subsidiaries * Gross addition of 6,062 employees (net 3,282) for the quarter by Infosys and subsidiaries * 69,432 employees as on December 31, 2006 for Infosys and subsidiaries Outlook for the quarter and the fiscal year ending March 31, 2007 * Consolidated revenues expected to be between $ 859 million and $ 861 million for the quarter ending March 31, 2007 (YoY growth of 44.9% - 45.2%) and expected to be $ 3.09 billion for the fiscal year ending March 31, 2007 (YoY growth of 43.6%) * Consolidated earnings per ADS(a) expected to be $ 0.40 for the quarter ending March 31, 2007; (YoY growth of 42.9%) and $ 1.47 for the fiscal year ending March 31, 2007; (YoY growth of 44.1%) Infosys Technologies Limited (NASDAQ: INFY) ("Infosys" or "the company") today announced financial results for its third quarter ended December 31, 2006. Revenues for the quarter aggregated $ 821 million, up 46.9% from $ 559 million for the quarter ended December 31, 2005. "Our investments in enriching and synergizing our portfolio of services have created compelling value propositions for our clients," said Nandan M. Nilekani, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and Managing Director. "As our clients focus on enhancing their competitiveness, they are leveraging our capability to drive their transformation programs." Infosys is the preferred development partner for a worldwide leader in networking for its Customer Ordering Experience (COE See common operating environment. ) program, which is aimed at radically simplifying, improving and scaling the customer purchasing experience. A leading US grocery chain selected Infosys to enhance its IT systems to support warehouse operations and improve business-IT alignment. A large distributor of paper products in the US is working with Infosys to re-engineer and re-architect its legacy Enterprise Resource Planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) system. Infosys will consolidate its multi-location systems while enabling substantial cost savings, ease of maintenance and deployment of new applications. Infosys' Independent Validation Services (IVS ivs - INRIA Videoconferencing System. A video-conferencing tool for the Internet based on the H.261 video compression standard. http://zenon.inria.fr:8003/rodeo/personnel/Thierry.Turletti/ivs.html. ) continued to gain traction with clients across industries. Infosys is working with a leading North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. insurance company to provide consultancy and performance testing Performance Testing covers a broad range of engineering or functional evaluations where a material, product, or system is not specified by detailed material or component specifications: Rather, emphasis is on the final measurable performance characteristics. services of a key SOA-based application. Infosys is establishing Testing Centers of Excellence (CoE) for a leading manufacturer and marketer of skincare, fragrance and hair-care products and a leading North American bank. Infosys is also providing performance validation services for a leading utility in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. for a crucial outage communication systems application. Infosys Consulting Inc. continued to work with clients as a trusted partner to support their IT strategy for transformation. One of the world's largest travel agencies with lines of business that include credit cards and magazines is partnering with Infosys Consulting to streamline its governance practices by defining and implementing a flexible model to improve integration and transparency between IT and internal business partners. "The rupee RUPEE, comm. law. A denomination of money in Bengal. In the computation of ad valorem duties, it is valued at fifty-five and one half cents. Act of March 2, 1799, s. 61; 1 Story's L. U. S. 627. Vide Foreign coins. 2. appreciated against all major currencies during the quarter, impacting our operating margins by 200 basis points," said V. Balakrishnan V. Balakrishnan is an Indian name, which may refer to:
(a) Adjusted for stock split About the company Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions. These provide our clients with strategic differentiation and operational superiority, thereby increasing their competitiveness. Each solution we provide is delivered with the industry-benchmark "Infosys Predictability" that gives our clients peace of mind. With Infosys, they are assured of a transparent business partner, business-IT alignment with flexibility, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 69,000 employees in over 39 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc these statements include, but are not limited to, risks and uncertainties regarding the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in and consulting services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration immigration, entrance of a person (an alien) into a new country for the purpose of establishing permanent residence. Motives for immigration, like those for migration generally, are often economic, although religious or political factors may be very important. , industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2006, Quarterly Reports on Form 6-K for the quarters ended June 30, 2006 and September 30, 2006 and our other recent filings. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company. [TABLE OMITTED] [TABLE OMITTED] |
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