Welcome!

@BigDataExpo Authors: Liz McMillan, Elizabeth White, Scott Allen, Sematext Blog, Pat Romanski

News Feed Item

Infosys Announces Results for the Quarter Ended December 31, 2012

BANGALORE, India, January 11, 2013 /PRNewswire/ --

Q3 Revenues Grow by 6.3% Quarter on Quarter

Financial Highlights

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

Other highlights:

  • 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. 

Outlook*

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

Business Highlights

  • 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.

Safe Harbor

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.

INR Press Release: http://www.multivu.prnewswire.com/mnr/prne/operations/INR-press-release-Version-4.pdf

Fact Sheet: http://www.multivu.prnewswire.com/mnr/prne/operations/Factsheet-Q3-2013.pdf

 

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


NOTE:

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

SOURCE Infosys

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@BigDataExpo Stories
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, provided tips on how to be successful in large scale machine learning...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
In his session at @ThingsExpo, Kausik Sridharabalan, founder and CTO of Pulzze Systems, Inc., will focus on key challenges in building an Internet of Things solution infrastructure. He will shed light on efficient ways of defining interactions within IoT solutions, leading to cost and time reduction. He will also introduce ways to handle data and how one can develop IoT solutions that are lean, flexible and configurable, thus making IoT infrastructure agile and scalable.
Creating replica copies to tolerate a certain number of failures is easy, but very expensive at cloud-scale. Conventional RAID has lower overhead, but it is limited in the number of failures it can tolerate. And the management is like herding cats (overseeing capacity, rebuilds, migrations, and degraded performance). Download Slide Deck: ▸ Here In his general session at 18th Cloud Expo, Scott Cleland, Senior Director of Product Marketing for the HGST Cloud Infrastructure Business Unit, discusse...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2016 Silicon Valley. The 6thInternet of @ThingsExpo will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.