Cognizant Guides to at least $10.3 billion in revenue for 2014, indicating at least 16.5% revenue growth

Starting in 2014, Cognizant Technology Solutions Corporation's (NASDAQ: CTSH) reported non-GAAP diluted EPS will exclude net non-operating foreign currency exchange gains or losses, as well as stock-based compensation expense and acquisition-related charges. This change is not reflected in our reported 2013 quarterly or annual results above, but is reflected in our 2014 non-GAAP guidance below.

The Company is providing the following guidance:

- First quarter 2014 revenue anticipated to be at least $2.42 billion.

- First quarter 2014 diluted EPS on a non-GAAP basis is expected to be $1.18 (prior to impact of upcoming stock split).

- Full year 2014 revenue expected to be at least $10.3 billion, up at least 16.5% compared to 2013.

- Full year 2014 diluted EPS on a non-GAAP basis expected to be at least $5.02 (prior to impact of upcoming stock split).

"The stock split underscores our confidence in the strength of the business model and in our prospects for 2014 and beyond," said Karen McLoughlin, Chief Financial Officer. "We further strengthened our balance sheet during 2013, allowing us to continue to support our industry-leading growth, by investing in service line capabilities, industry expertise, new technologies, new delivery platforms, and expanded geographical reach."

Source : Equity Bulls

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