|By PR Newswire||
|January 11, 2013 03:00 AM EST||
BANGALORE, India, January 11, 2013 /PRNewswire/ --
Q3 Revenues Grow by 6.3% Quarter on Quarter
Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended December 31, 2012
- Revenues were $1,911 million for the quarter ended December 31, 2012;
QoQ growth was 6.3%
YoY growth was 5.8%
- Revenues excluding Lodestone were $1,872 million;
QoQ growth was 4.2%
YoY growth was 3.7%
- Net income after tax was $434 million for the quarter ended December 31, 2012 against $431 million for the quarter ended September 30, 2012
- Earnings per American Depositary Share (EPADS) was $0.76 for the quarter ended December 31, 2012 against $0.75 for the quarter ended September 30, 2012
- Liquid assets including cash and cash equivalents, current available-for-sale financial assets, investment in certificates of deposits and government bonds were $4.1 billion versus $4.3 billion as on September 30, 2012
- The company won 8 large outsourcing deals amounting to US$ 731 million of total contract value
- 14 new wins for Infosys' products and platforms
- Infosys and its subsidiaries added 53 clients during the quarter
- Gross addition of 7,499 employees (net addition of 977) for the quarter by Infosys and its subsidiaries.
- 155,629 employees as on December 31, 2012 for Infosys and its subsidiaries
- Completed the acquisition of Lodestone Holding AG, a leading management consultancy based in Switzerland
- Infosys American Depositary Shares (ADS) have started trading on the New York Stock Exchange (NYSE) under the ticker symbol 'INFY'. The company is in the process of listing its ADS on the Paris and London exchanges of NYSE Euronext.
"We have done well in this quarter despite an uncertain environment," said S. D. Shibulal, CEO and Managing Director. "We continue to gain confidence from a strong pipeline of large deals. However, the broader economic environment remains difficult. Even so, we remain cautiously optimistic about the January-March quarter," he added.
"We were able to maintain our margins through efficiency improvements despite increased operating expenses. We remain focused on making the right investments for profitable and sustainable growth in the longer term," said Rajiv Bansal, Chief Financial Officer.
The company's outlook (consolidated) for the fiscal year ending March 31, 2013, under IFRS is as follows:
Revenues** are expected to be at least $7,450 million;
Earnings per American Depositary Share (EPADS) is expected to be at least $2.97;
* Exchange rates considered for major global currencies: AUD / USD - 1.04; GBP / USD - 1.62; Euro / USD - 1.32 for rest of fiscal 2013
** Includes $104 million from Lodestone
- The company won 8 large outsourcing deals amounting to US$ 731 Mn of total contract value
- Our offerings in the Products and Platforms space continue to see good momentum. This quarter we had 14 wins across industries and geographies. Infosys products and platforms (excluding Finacle™) are now adopted by more than 70 global clients.
- A Blue Cross Blue Shield Plan selected us as a strategic partner to provide enterprise-wide testing services and establish a Test CoE within its IT organization, aimed at creating testing processes and frameworks to support the company's ongoing transformation due to US healthcare reform. Another Blue Cross Blue Shield Plan is leveraging Infosys iTransform™ product and services to help its ICD-10 migration, mandated by the U.S. federal government.
- Our focus on Cloud as a new growth area continues to yield results and the Cloud business currently has more than 190 engagements and 3,500 experts. Over the last quarter, we won more than 15 engagements across Cloud services, Big Data and Security. Our vision of being a Cloud Ecosystem Integrator has gained increasing acceptance with clients and we are working with more than 30 partners to help clients create and manage their unified hybrid cloud environments.
- During the third quarter, Infosys applied for seven patent applications in India and the U.S. With this, it has 525 patent applications in India, the U.S. and other jurisdictions, and has been granted 71 patents by the United States Patent and Trademark Office and two patents by the Luxembourg patent office.
Awards and Recognition
Infosys has been consistently honored by influencers
- We were declared the winners of 2012 Asia's Most Admired Knowledge Enterprises (MAKE) study by Teleos, in association with The KNOW Network for the 10th time, for developing knowledge based products and services.
- Infosys BPO Ltd. has been awarded the prestigious 2012 Optimas Award for 'Managing Change', recognizing exemplary achievements in workforce management and for successfully integrating new employees from around the globe into the organization.
- Infosys BPO Ltd. won the Gold Award for Marketing Excellence in the category of 'Marketing with Social and Interactive Media' at the Information Technology Services Marketing Association (ITSMA) Awards 2012.
- We have received the Microsoft Platform Modernization Award for sales achievement for our Legacy Modernization solution, which helps customers migrate to Microsoft platforms.
- We were awarded the National Energy Conservation Award 2012 for our energy conservation efforts at our campuses in Jaipur and Pune.
- We have been awarded the global No. 1 position for our corporate governance practices by IR Global Rankings (IRGR).
- Finacle™ from Infosys has been ranked as a long-term leader in The Forrester Wave™: Global Banking Platforms, Q4 2012
About Infosys Ltd
Infosys partners with global enterprises to drive their innovation-led growth. That's why Forbes ranked Infosys 19th among the top 100 most innovative companies. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals.
Visit http://www.infosys.com and see how Infosys (NYSE: INFY), with its 150,000+ people, is Building Tomorrow's Enterprise® today.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarter ended December 31, 2011, June 30, 2012 and September 30, 2012. These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Balance Sheets as of
(Dollars in millions except share data)
December 31, March 31, 2012 2012 ASSETS Current assets Cash and cash equivalents $2,740 $4,047 Available-for-sale financial assets 1,339 6 Investment in certificates of deposit - 68 Trade receivables 1,266 1,156 Unbilled revenue 405 368 Prepayments and other current assets 335 300 Total current assets 6,085 5,945 Non-current assets Property, plant and equipment 1,115 1,063 Goodwill 368 195 Intangible assets 72 34 Available-for-sale financial assets 2 2 Investment in government bonds 12 - Deferred income tax assets 77 62 Income tax assets 191 204 Other non-current assets 33 32 Total non-current assets 1,870 1,592 Total assets $7955 $7,537 LIABILITIES AND EQUITY Current liabilities Derivative financial instruments - $9 Trade payables 13 5 Current income tax liabilities 227 207 Client deposits 12 3 Unearned revenue 146 107 Employee benefit obligations 109 98 Provisions 39 26 Other current liabilities 562 482 Total current liabilities 1,108 937 Non-current liabilities Deferred income tax liabilities 16 2 Other non-current liabilities 18 22 Total liabilities 1,142 961 Equity Share capital- `5 ($0.16) par value 600,000,000 equity shares authorized, issued and outstanding 571,402,566 and 571,396,410, net of 2,833,600 treasury shares each as of December 31, 2012 and March 31, 2012, respectively 64 64 Share premium 704 703 Retained earnings 7,223 6,509 Other components of equity (1,178) (700) Total equity attributable to equity holders of the company 6,813 6,576 Non-controlling interests - - Total equity 6,813 6,576 Total liabilities and equity $7,955 $7,537
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Statements of Comprehensive Income
(Dollars in millions except share and per equity share data)
Three Three Nine Nine months months months months ended ended ended ended December December December December 31, 2012 31, 2011 31, 2012 31, 2011 Revenues $1,911 $1,806 $5,460 $5,233 Cost of sales 1,203 1030 3,376 3,077 Gross profit 708 776 2,084 2,146 Operating expenses: Selling and marketing expenses 99 88 277 275 Administrative expenses 118 128 355 386 Total operating expenses 217 216 632 661 Operating profit 491 560 1,452 1,485 Other income, net 92 82 308 266 Profit before income taxes 583 642 1,760 1,751 Income tax expense 149 184 479 498 Net profit $434 $458 $1,281 $1,253 Other comprehensive income Fair value changes on available - for-sale financial asset, net of tax effect - - - $(2) Exchange differences on translating foreign operations (250) (442) (478) (1,004) Total other comprehensive income $(250) $(442) $(478) $(1,006) Total comprehensive income $184 $16 $803 $247 Profit attributable to: Owners of the company $434 $458 $1,281 $1,253 Non-controlling interests - - - - $434 $458 $1,281 $1,253 Total comprehensive income attributable to: Owners of the company $184 $16 $803 $247 Non-controlling interests - - - - $184 $16 $803 $247 Earnings per equity share Basic ($) 0.76 0.80 2.24 2.19 Diluted ($) 0.76 0.80 2.24 2.19 Weighted average equity shares used in computing earnings per equity share Basic 571,400,086 571,377,084 571,398,129 571,356,602 Diluted 571,400,417 571,396,560 571,399,018 571,394,949
1. The unaudited Condensed Consolidated Balance sheets and Condensed Consolidated Statements of Comprehensive Income for the three months and nine months ended December 31, 2012 has been taken on record at the Board meeting held on January 11, 2013
2. A Fact Sheet providing the operating metrics of the company can be downloaded from http://www.infosys.com
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
May. 5, 2016 01:30 PM EDT Reads: 1,113
The demand for organizations to expand their infrastructure to multiple IT environments like the cloud, on-premise, mobile, bring your own device (BYOD) and the Internet of Things (IoT) continues to grow. As this hybrid infrastructure increases, the challenge to monitor the security of these systems increases in volume and complexity. In his session at 18th Cloud Expo, Stephen Coty, Chief Security Evangelist at Alert Logic, will show how properly configured and managed security architecture can...
May. 5, 2016 01:30 PM EDT Reads: 538
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
May. 5, 2016 12:30 PM EDT Reads: 1,470
There is an ever-growing explosion of new devices that are connected to the Internet using “cloud” solutions. This rapid growth is creating a massive new demand for efficient access to data. And it’s not just about connecting to that data anymore. This new demand is bringing new issues and challenges and it is important for companies to scale for the coming growth. And with that scaling comes the need for greater security, gathering and data analysis, storage, connectivity and, of course, the...
May. 5, 2016 12:30 PM EDT Reads: 1,298
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
May. 5, 2016 11:30 AM EDT Reads: 678
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
May. 5, 2016 11:15 AM EDT Reads: 1,122
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
May. 5, 2016 10:15 AM EDT Reads: 1,554
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
May. 5, 2016 10:15 AM EDT Reads: 1,006
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
May. 5, 2016 10:00 AM EDT Reads: 1,455
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
May. 5, 2016 09:30 AM EDT Reads: 1,470
Much of the value of DevOps comes from a (renewed) focus on measurement, sharing, and continuous feedback loops. In increasingly complex DevOps workflows and environments, and especially in larger, regulated, or more crystallized organizations, these core concepts become even more critical. In his session at @DevOpsSummit at 18th Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, will show how, by focusing on 'metrics that matter,' you can provide objective, transparent, and meaningfu...
May. 5, 2016 09:00 AM EDT Reads: 1,184
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
May. 5, 2016 09:00 AM EDT Reads: 1,263
SYS-CON Events announced today that Ericsson has been named “Gold Sponsor” of SYS-CON's @ThingsExpo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Ericsson is a world leader in the rapidly changing environment of communications technology – providing equipment, software and services to enable transformation through mobility. Some 40 percent of global mobile traffic runs through networks we have supplied. More than 1 billion subscribers around the world re...
May. 5, 2016 08:45 AM EDT Reads: 1,385
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
May. 5, 2016 03:00 AM EDT Reads: 1,353
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, will shares the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
May. 5, 2016 01:45 AM EDT Reads: 1,256
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
May. 5, 2016 01:00 AM EDT Reads: 1,349
The increasing popularity of the Internet of Things necessitates that our physical and cognitive relationship with wearable technology will change rapidly in the near future. This advent means logging has become a thing of the past. Before, it was on us to track our own data, but now that data is automatically available. What does this mean for mHealth and the "connected" body? In her session at @ThingsExpo, Lisa Calkins, CEO and co-founder of Amadeus Consulting, will discuss the impact of wea...
May. 5, 2016 12:00 AM EDT Reads: 1,227
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
May. 4, 2016 11:45 PM EDT Reads: 1,285
Struggling to keep up with increasing application demand? Learn how Platform as a Service (PaaS) can streamline application development processes and make resource management easy.
May. 4, 2016 09:00 PM EDT Reads: 2,253
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
May. 4, 2016 07:30 PM EDT Reads: 1,721