The Hindu Business Line : Cognizant revenue guidance remains unchanged

Chennai, Oct. 10 Cognizant Technology Solutions on Friday said its revenue guidance for the September quarter and the calendar year remains unchanged. In a statement, the company said it has reaffirmed its guidance (issued end-July this year) of revenue of at least $723 million for the September quarter and at least $2.81 billion for full-year 2008, which would mean an annual growth of 32 per cent.

Cognizant is slated to announce its September quarter results on November 5.

The unchanged estimates gain significance in light of Infosys Technologies’ revised revenue estimates to between $4.72 billion and $4.81 billion, for the year ending March 2009, or growth of between 13.1 per cent and 15.2 per cent, down from an earlier estimate of between 19 per cent and 21 per cent growth.

Speaking to Business Line, the Cognizant Vice-Chairman, Mr Lakshmi Narayanan, said, “We wish to clarify that we are sticking to our guidance. There is expectation in the market that several players may be revising performance estimates downwards. That doesn’t mean that the entire industry would revise its estimates. It might be company-specific. We will have to wait and watch how other players fare.”

He declined to give further details on Cognizant’s numbers citing the silent period in the run-up to the results.

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