- Annual revenue of $8.84 billion, up 20% year-over-year;
- Provides guidance for 2014 revenue growth of at least 16.5%;
- Announces two-for-one stock split
Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process outsourcing services, today announced its fourth quarter and full year 2013 financial results.
Highlights – Fourth Quarter 2013
- Quarterly revenue rose to $2.355 billion, up 20.9% from the year-ago quarter and 2.2% sequentially.
- Quarterly diluted EPS on a GAAP basis was $1.06, compared to $0.92 in the year-ago quarter.
- Quarterly diluted EPS on a non-GAAP basis, which excludes stock-based compensation expense and acquisition-related charges, was $1.15, compared to $0.99 in the year-ago quarter.
- Net headcount addition for the quarter was approximately 5,000; year-end headcount was approximately 171,400.
Revenue for the fourth quarter of 2013 rose to $2.355 billion, up 20.9% from $1.948 billion in the fourth quarter of 2012. GAAP net income was $324.3 million, or $1.06 per diluted share, compared to $278.8 million, or $0.92 per diluted share, in the fourth quarter of 2012. Diluted EPS on a non-GAAP basis was $1.15, compared to $0.99 in the fourth quarter of 2012. GAAP operating margin for the quarter was 19.0%. Non-GAAP operating margin was 20.7%, higher than the Company’s targeted 19-20% range. Reconciliations of non-GAAP financial measures to GAAP operating results and diluted EPS are included at the end of this release.
“We >>
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