Syntel Profit Rises In Q2 - Quick Facts

(RTTNews) - Syntel, Inc. (SYNT), an IT services provider and Knowledge Process Outsourcing company, said its second-quarter net income rose to $47.5 million or $1.14 per share, from $43.4 million or $1.04 per share in the prior-year period. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $1.06 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenue went up 13 percent to $202.5 million, from $179.0 million, a year ago. In the recent quarter, Applications Outsourcing accounted for 76 percent of total revenue, with Knowledge Process Outsourcing (KPO) at 16 percent, e-Business contributing six percent and TeamSourcing at two percent. Analysts estimated revenues of $197.92 million for the quarter.

Based on current visibility levels and an exchange rate assumption of 59 Indian Rupees to the dollar, the firm now sees 2013 revenue of $800 million to $815 million and earnings per share of $4.65 to $4.75. Analysts project annual earnings of $4.48 per share on $805.01 million in revenue.