Outsourcer Infosys Reports 2Q Revenue Of $746 Million

Informationweek.com
In a sign that the furious growth of offshore IT outsourcing hasn't abated, India's Infosys Technologies Ltd. reported Wednesday that revenues and income in its just-ended second fiscal quarter jumped more than 40 percent. Infosys, the second largest Indian software exporter, pointed to business deals with U.S. firms that helped drive the impressive results. The firm said revenues for the quarter ending Sept. 30 came in at $746 million -- up 42.4 percent -- while earnings per share expanded by a similar percentage. The Bangalore-based firm said it expects revenues for the fiscal year ending March 31, 2007, will be more than $3 billion. Infosys and other offshore outsourcing firms have been enjoying rapid growth in recent months. "Our business model provides a compelling value proposition to clients in a flat world," said Nandan M. Nilekani, Infosys CEO and managing director, in a statement. "Our robust organic growth coupled with investments in various strategic areas helped us to grow faster in this environment." In trumpeting the results, Infosys noted that it is enabling a leading U.S. cable provider to launch new features. Another important contract with a U.S. airline calls for Infosys to implement Oracle software to transform its finance functions. more...

Where is IT industry headed? Experts opine

Moneycontrol.com
Where is global information technology held over the next year or so with the US economic slowdown? Will the budget tighten for the CTOs as well and where do Indian companies fit in? An expert panel of global and local experts discuss where global IT is headed over the next twelve months and where Indian companies actually fit in into that picture. The panel includes Peter Bendor Samuel, CEO of the Everest Group who tracks the macrotrends in global IT and one of the Gurus in the IT World, Rod Bourgeous, a celebrated IT analyst at Sanford C Bernstein, which is almost a mover and shaker in the IT world from the equity analyst fraternity and Stan Gibson, Executive Editor of eWeek, one of the world’s largest IT publications. For the local perspective, the panel has B Ramalinga Raju, Head of Nasscom and Chairman of Satyam Computers and Ram Mynampati is President of Satyam Computers. The panel discusses where global and Indian IT is headed over the next twelve to twenty-four months. more...