India's Infosys Posts Strong Third Quarter - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
IT Leadership // IT Strategy

India's Infosys Posts Strong Third Quarter

Growth is driven by sales to U.S. companies in the insurance and health-care industries.

India's Infosys Technologies Ltd. continues to cash in on the outsourcing boom.

The company, which counts Apple Computer, Boeing, and Cisco Systems among its U.S. customers, said Wednesday that sales for its third quarter ended Dec. 31 rose 53% to $423 million. Net income rose 57% to $112 million, while earnings per share increased 56% to 42 cents.

Infosys officials say the growth is being led by sales to U.S. companies in the insurance and health-care industries, more of which are looking to cut costs by sending basic IT and back-office operations to low-cost Indian service providers. The company added more than 2,200 employees in its third quarter to help meet the demand and expects to hire an additional 6,000 workers in 2005. Infosys added 38 new customers in its third quarter, company officials say.

Looking ahead, Infosys says it expects to post fourth-quarter sales of between $452 million and $454 million, representing growth 49% to 50% from one year earlier. For its fiscal year ending in March, Infosys expects sales of $1.59 billion--a 50% increase over the previous year.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
Slideshows
IT Careers: 10 Industries with Job Openings Right Now
Cynthia Harvey, Freelance Journalist, InformationWeek,  5/27/2020
Commentary
How 5G Rollout May Benefit Businesses More than Consumers
Joao-Pierre S. Ruth, Senior Writer,  5/21/2020
News
IT Leadership in Education: Getting Online School Right
Jessica Davis, Senior Editor, Enterprise Apps,  5/20/2020
White Papers
Register for InformationWeek Newsletters
Video
Current Issue
Key to Cloud Success: The Right Management
This IT Trend highlights some of the steps IT teams can take to keep their cloud environments running in a safe, efficient manner.
Slideshows
Flash Poll