First quarter revenues at $1.16B, up 24.5% from the corresponding quarter last fiscal
July 11, 2008
BANGALORE, India -- Highlights
Consolidated results for the quarter ended June 30, 2008
First quarter revenues at $ 1,155 million, up 24.5% from the corresponding quarter last fiscal
Earnings per American Depositary Share (ADS)* increased to $ 0.54 from $ 0.46 in the correspondingquarter last fiscal; YoY growth was 17.4%
49 new clients were added during the quarter by Infosys and its subsidiaries
Gross addition of 7,182 employees (net 3,192) for the quarter by Infosys and its subsidiaries
94,379 employees as on June 30, 2008 for Infosys and its subsidiaries
*The tax provision for quarters ended June 30, 2008 and June 30, 2007 includes a tax reversal of $ 7 millionand $ 13 million respectively. Excluding this reversal, the earnings per share for the quarters ended June 30,2008 and June 30, 2007 would have been $ 0.53 and $ 0.44 respectively, resulting in a YOY growth of 20.5%
Outlook for the quarter ending September 30, 2008 and the fiscal year ending March 31, 2009
Quarter ending September 30, 2008
Consolidated revenues are expected to be in the range of $ 1,215 million and $ 1,225 million; YoY growth of18.9% – 19.9%
Consolidated earnings per American Depositary Share are expected to be in the range of $ 0.55 and $ 0.56;YoY growth of 14.6% – 16.7%
Fiscal year ending March 31, 2009
Consolidated revenues are expected to be in the range of $ 4.97 billion and $ 5.05 billion; YoY growth of19.0% – 21.0%
Consolidated earnings per American Depositary Share** are expected to be between $ 2.32 and$ 2.36; YoY growth of 14.3% – 16.3%
** Including tax reversal of $ 7 million in fiscal 2009 and $ 30 million in fiscal 2008 respectively. Excluding thetax reversal, the earnings per share are expected to be between $ 2.31 and $ 2.35 for the year ending March31, 2009; YoY growth of 16.7% – 18.7%
“Although the global economic environment continues to remain uncertain and could impact ITspending in the short term, we see several opportunities for growth as customers relentlessly focus onimproving efficiency,” said S. Gopalakrishnan, CEO and Managing Director.
Infosys Technologies Ltd. (Nasdaq: INFY)
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