11 pc rise in Cognizant's Q1 net income

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Cognizant Technology
Chennai, May 6: Cognizant Technology Solutions Corporation has reported a net income of 113 million dollars in the first quarter (Q1) ended March 31, 2009 against $102 million in the first quarter of 2008, an 11 per cent increase.

The US-based provider of information technology has posted a Q1 revenue ascent of 746 million dollars, that is a 16 per cent raise from the year-ago quarter.

"We are pleased with our performance during the first quarter which exceeded our revenue guidance and demonstrated Cognizant's continued ability to outperform the industry," said Francisco D'Souza, President and CEO, Cognizant.

The company has also reported a guidance for the second quarter, expecting revenue of at least 760 million dollars. Fiscal 2009 revenue is expected to be at least 3.1 billion dollars, up at least 10 per cent compared to 2008.

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