TEANECK (dpa-AFX) - Cognizant Technology Solutions Corp. (CTSH) posted a rise in its fourth-quarter GAAP net income to $240.13 million, or $0.78 per share from $206.17 million, or $0.66 per share last year. Excluding stock-based compensation expense, non-GAAP earnings per share improved to $0.84 from year-ago quarter's $0.70.
On average, 23 analysts polled by Thomson Reuters expected earnings per share of $0.77 for the quarter. Analysts' estimates typically exclude one-time items.
Revenue totaled $1.66 billion, up 26.9% from $1.31 billion in the fourth quarter of 2010, while 21 analysts estimated revenues of $1.67 billion for the quarter.
Looking forward to the first quarter of 2012, earnings per share are estimated to be $0.79 on a GAAP basis and $0.85 on a non-GAAP basis, excluding $0.06 of estimated stock-based compensation expense, whereas revenue is projected to be at least $1.70 billion. Analysts expect earnings of $0.79 per share and revenue of $1.72 billion for the 2012 first quarter.
For 2012, the company sees earnings per share to be at least $3.43 on a GAAP basis, and $3.69 on a non-GAAP basis, excluding $0.26 of estimated stock-based compensation expense; with full-year 2012 revenue anticipated to be at least $7.53 billion. Analysts project earnings of $3.42 per share and revenues of $7.48 billion for 2012.
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