Member access

4-Traders Homepage  >  Shares  >  Nasdaq  >  Cognizant Technology Solutions Corp    CTSH   US1924461023

News SummaryMost relevantAll newsSector news 

Cognizant Technology Solutions Corp : Cognizant Executive : Expect North America To Lead Sales Growth In 2012

02/09/2012 | 01:08am US/Eastern

Cognizant Technology Solutions Corp. (CTSH) expects sales growth in 2012 to be driven largely by North America, its largest revenue generating market, which is gradually stabilizing after the economic uncertainty that weighed on businesses last year.

Gordon Coburn, the newly appointed president at Cognizant, said late Wednesday he expects clients in North America to spend more on projects which are discretionary in nature this year, compared with its second-largest market--Europe--which remains volatile.

Coburn's comments come after the Nasdaq-listed company earlier Wednesday reported a 16% growth in earnings for the fourth quarter ended Dec. 31 and forecast a rise of at least 23% in sales for this year to $7.53 billion.

The New Jersey-based company, which employs three-fourths of its staff in India, has been posting industry-leading growth over the past few years.

Cognizant's sales increase outlook is much stronger than the local software export industry's 11%-14% revenue growth forecast for the next fiscal year beginning April 1. However, the U.S. company's outlook pales against the 33% sales growth it posted in 2011 even amid a tough business climate.

-By Dhanya Ann Thoppil, Dow Jones Newswires; +91-9886929464;

React to this article
03/26 COGNIZANT TECHNOLOGY SOLUTIONS : Software Robots Making Business Smarter - New C..
03/24 COGNIZANT TECHNOLOGY SOLUTIONS : Tryg Selects Cognizant to Streamline Finance & ..
03/20 COGNIZANT TECHNOLOGY SOLUTIONS : Named a "Leader" in B2C Global Commerce Service..
03/12 COGNIZANT TECHNOLOGY SOLUTIONS : Pays 130% variable salary component
03/12 COGNIZANT TECHNOLOGY SOLUTIONS : Cuts employee bonus
03/12 COGNIZANT TECHNOLOGY SOLUTIONS : Latest Development in the Technology Sector: Ne..
03/10 Cholamandalam ties up with cts
03/10 Cognizant tech to power chola vehicle finance push
03/10 Fidelity tech fund trounces all rivals without holding Apple
03/10 COGNIZANT TECHNOLOGY SOLUTIONS : Drives Digital Transformation of Chola's Vehicl..
Duration : Period :
Cognizant Technology Solut Technical Analysis Chart | CTSH | US1924461023 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes