Infosys Technologies revises Business Outlook

Infosys Technologies Ltd has announced the following Business Outlook:

The company’s outlook (consolidated) for the quarter ending September 30, 2006 and the fiscal year ending March 31, 2007, under Indian GAAP and US GAAP, is as follows:

Outlook under Indian GAAP - consolidated

Quarter ending September 30, 2006**

• - Income is expected to be in the range of Rs 32570 million and Rs 32800 million; YoY growth of 42.0%-43.0%
• - Earnings per share* are expected to be between Rs 29.47 and Rs 29.78; YoY growth of 32.4%-33.8%

• - Income is expected to be in the range of Rs 133500 million and Rs 134000 million; YoY growth of 40.2%-40.7%
• - Earnings per share* are expected to be between Rs 124.51 and Rs 125.74; YoY growth of 38.3%-39.6%
Outlook under US GAAP
Quarter ending September 30, 2006

• - Consolidated revenues are expected to be in the range of $ 710 million and $ 715 million; YoY growth of 35.5%-36.5%
• - Consolidated earnings per American Depositary Share are expected to be between $ 0.64 and $ 0.65; YoY growth of 25.5%-27.5%
Fiscal year ending March 31, 2007

• - Consolidated revenues are expected to be in the range of $ 2.91 billion and $ 2.92 billion; YoY growth of 35.4%-35.9%
• - Consolidated earnings per American Depositary Share* are expected to be between $ 2.70 and $ 2.73; YoY growth of 32.4%-33.8%
*Not adjusted for issue of 1:1 bonus shares, as the record date for issue of bonus shares is July 14, 2006.
** conversion 1 $ = Rs 45.87

"Our efforts in building the brand, developing the client base, and expanding strategic accounts have fueled our robust organic model," said Nandan M Nilekani, CEO, President and Managing Director.

"We witnessed strong growth during the quarter and we believe we have the required scale. execution capabilities and end-to-end service offering to take advantage of the momentum seen in the marketplace," said S GopalaKrishnan, Member of the Board and COO.


Source : Equity Bulls

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