|By PR Newswire||
|April 12, 2013 07:30 AM EDT||
BANGALORE, India, April 12, 2013 /PRNewswire/ --
Q4 revenues grew by 1.4% sequentially; FY13 revenues grew by 5.8%
Consolidated results under International Financial Reporting Standards (IFRS) for the quarter ended March 31, 2013
- Revenues were $1,938 million for the quarter ended March 31, 2013;
QoQ growth was 1.4%
YoY growth was 9.4%
- Net profit was $444 million for the quarter ended March 31, 2013;
QoQ growth was 2.3%
YoY decline was 4.1%
- Earnings per American Depositary Share (EPADS) was $0.78 for the quarter ended March 31, 2013;
QoQ growth was 2.6%
YoY decline was 3.7%
- The Board of Directors recommended a final dividend of `27 per ADS for fiscal 2013 (equivalent to final dividend of approximately $0.50 per ADS at the prevailing exchange of `54.29 per US$). The Register and Share Transfer Books of the Company will be closed from June 1, 2013 to June 15 2013 (both days inclusive)
- Liquid assets including cash and cash equivalents, current available-for-sale financial assets, investment in certificates of deposits and government bonds were $4.4 billion versus $4.1 billion as on December 31, 2012
- Infosys and its subsidiaries added 56 clients during the quarter
- Gross addition of 8,990 employees (net addition of 1,059) for the quarter by Infosys and its subsidiaries
- 156,688 employees as on March 31, 2013 for Infosys and its subsidiaries
- The company listed its American Depository Shares (ADS) on NYSE Euronext's (NYX) London and Paris markets
- The company has decided to set aside up to US$100 million to invest in products, platforms and solutions ideas in line with Infosys 3.0 strategy
"Global economic uncertainties remain challenging for the IT industry," said S. D. Shibulal, CEO and Managing Director. "We are progressing well on our strategic direction of building a high-quality company which is relevant to our clients. We are making all the investments necessary to differentiate ourselves in the market place while positioning ourselves as a partner of choice for our clients."
"The global currency market continues to be volatile reflecting the uncertain economic environment. Our hedging strategy helps us to minimize the volatility impact," said Rajiv Bansal, Chief Financial Officer. "We have a healthy balance sheet with our cash and cash equivalents at US$ 4.4 billion."
The company's outlook (consolidated) for the fiscal year ending March 31, 2014, under IFRS is as follows:
Revenues are expected to grow 6% to 10.0%;
* Exchange rates considered for major global currencies: AUD / USD - 1.04; GBP / USD - 1.51; Euro / USD - 1.28
- We continue to see good adoption our products and platforms from our clients. This quarter we had 12 wins (excluding Finacle™) across industries and geographies, taking our total number of clients for products and platforms to over 75.
- In the last quarter we expanded our global footprint with a new delivery center in Munich, Germany, an onshore operations center in the Metro Atlanta Area, U.S. and a new delivery center for our BPO subsidiary in San José, Costa Rica.
- The District of Columbia awarded us to implement the District of Columbia Access System (DCAS). DCAS will be a state-of-the-art health and human services solution that provides the District's Health Benefit Exchange, a new integrated eligibility system for Medicaid, private health insurance and other programs with new case management capabilities that span programs and agencies. This system will be used to determine eligibility and to enroll individuals, families, and small businesses that purchase health care coverage through the Exchange's online marketplace.
- Our focus on Cloud and Big Data as new growth areas continues to yield results; we currently have more than 200 engagements and 3,500 experts in our Cloud practice. Over the last quarter, we won over 10 engagements across Cloud services, Big Data and security. Our vision of investing in new growth areas with differentiated solutions was strengthened by the launch of Infosys BigDataEdge that radically simplifies the complex task of analyzing Big Data to discover relevant information.
- Mobility is an important focus for enterprises to make their organizations more efficient and customer centric and we are helping our clients realize the full business potential of mobility. In the last quarter we started 18 new engagements across various areas like business and technology consulting, customer outreach, mobile marketing, field services, enterprise efficiency.
- During the fourth quarter, we applied for 21 unique patent applications in India and the U.S. With this, we have 532 patent applications undergoing various stages of patent prosecution in India, the U.S. and other jurisdictions, and have been granted 84 patents by the United States Patent and Trademark Office and three patents by the Luxembourg patent office.
Awards and Recognition
- Infosys Cloud Ecosystem Hub won the 2012 Golden Peacock Award for the most innovative product/service.
- The National Association of Software and Services Companies (NASSCOM) presented its prestigious Business Innovation Award to Infosys Edge™.
- We have been named a 2013 Computerworld Honors Laureate in recognition of our use of information technology to promote and advance public welfare, benefit society and business and change the world for the better.
- Our enterprise mobility services were rated highly by various analysts, including a leader rating in The Forrester Wave™: Enterprise Mobility Services, Q1 2013 report.
- Ovum, the global analyst firm, recognized Flypp™ Digital Experience Platform as a well-developed ecosystem of services, large repository of apps (comparable to Google Play and the App Store) and monetization processes.
- We won top accolades at the National Council for Work Experience (NCWE) Awards 2013, marking us as one of UK's best internship providers.
Board of Directors
Mr. Leo Puri has been appointed Additional Director of the Company with effect from April 11, 2013.
He will hold office up to the date of the Annual General Meeting, when his appointment as a director will be placed for the approval of the shareholders.
Mr. Puri is a Senior Advisor to McKinsey & Company's Asia-Pacific Financial Institution Practice. He has served as a Senior Partner of the firm, and has 25 years of experience of working in consulting to financial institutions. Between 2007 and 2011, he was a Managing Director with Warburg Pincus & Company, a leading Private Equity Firm, responsible for investments in India and financial institutions in relevant Asian markets.
Welcoming Leo Puri to the Board, K. V. Kamath, Chairman said, "Leo Puri is one of the best known leaders of corporate India. He brings enormous value with his vast experience in the consulting field."
About Infosys Ltd
Infosys partners with global enterprises to drive their innovation-led growth. That's why Forbes ranked Infosys #19 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 156,000+ 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 June 30, 2012, September 30, 2012 and December 31, 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 unless it is required by law.
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Balance Sheets as of
(Dollars in millions except share data)
March 31, 2013 March 31, 2012 ASSETS Current assets Cash and cash equivalents $4,021 $4,047 Available-for-sale financial assets 320 6 Investment in certificates of deposit - 68 Trade receivables 1,305 1,156 Unbilled revenue 449 368 Prepayments and other current assets 391 300 Derivative financial instruments 19 - Total current assets 6,505 5,945 Non-current assets Property, plant and equipment 1,191 1,063 Goodwill 364 195 Intangible assets 68 34 Available-for-sale financial assets 72 2 Deferred income tax assets 94 62 Income tax assets 201 204 Other non-current assets 44 32 Total non-current assets 2,034 1,592 Total assets $8,539 $7,537 LIABILITIES AND EQUITY Current liabilities Derivative financial instruments - $9 Trade payables 35 5 Current income tax liabilities 245 207 Client deposits 6 3 Unearned revenue 152 107 Employee benefit obligations 113 98 Provisions 39 26 Other current liabilities 568 482 Total current liabilities 1,158 937 Non-current liabilities Deferred income tax liabilities 23 2 Other non-current liabilities 27 22 Total liabilities 1,208 961 Equity Share capital-5 ($0.16) par value 600,000,000 equity shares authorized, issued and outstanding 571,402,566 and 571,396,401, net of 2,833,600 treasury shares each as of March 31, 2013 and March 31, 2012, respectively 64 64 Share premium 704 703 Retained earnings 7,666 6,509 Other components of equity (1,103) (700) Total equity attributable to equity holders of the company 7,331 6,576 Non-controlling interests - - Total equity 7,331 6,576 Total liabilities and equity $8,539 $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 months months Year ended Year ended ended March ended March March 31, March 31, 31, 2013 31, 2012 2013 2012 Revenues $1,938 $1,771 $7,398 $6,994 Cost of sales 1,261 1,041 4,637 4,118 Gross profit 677 730 2,761 2,876 Operating expenses: Selling and marketing expenses 96 91 373 366 Administrative expenses 124 111 479 497 Total operating expenses 220 202 852 863 Operating profit 457 528 1,909 2,013 Other income 125 131 433 397 Profit before income taxes 582 659 2,342 2,410 Income tax expense 138 196 617 694 Net profit $444 $463 $1,725 $1,716 Other comprehensive income Fair value changes on available-for-sale financial asset, net of tax effect 1 - 1 (2) Exchange differences on translating foreign operations 74 244 (404) (760) Total other comprehensive income $75 $244 $(403) $(762) Total comprehensive income $519 $707 $1,322 $954 Profit attributable to: Owners of the company $444 $463 $1,725 $1,716 Non-controlling interests - - - - $444 $463 $1,725 $1,716 Total comprehensive income attributable to: Owners of the company $519 $707 $1,322 $954 Non-controlling interests - - - - $519 $707 $1,322 $954 Earnings per equity share Basic ($) 0.78 0.81 3.02 3.00 Diluted ($) 0.78 0.81 3.02 3.00 Weighted average equity shares used in computing earnings per equity share Basic 571,402,566 571,392,171 571,399,238 571,365,494 Diluted 571,402,566 571,399,573 571,400,091 571,396,142
1. The unaudited Condensed Consolidated Balance sheets and Condensed Consolidated Statements of Comprehensive Income for the three months and year ended March 31, 2013 has been taken on record at the Board meeting held on April 12, 2013
2. A Fact Sheet providing the operating metrics of the company can be downloaded fromhttp://www.infosys.com
INR Press Release: http://multivu.prnewswire.com/mnr/prne/operations/INR-press-release-Q4.pdf
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Mar. 30, 2017 04:45 AM EDT Reads: 3,326
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Mar. 30, 2017 04:15 AM EDT Reads: 2,246
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Mar. 30, 2017 04:15 AM EDT Reads: 946
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
Mar. 30, 2017 02:15 AM EDT Reads: 4,104
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 30, 2017 01:30 AM EDT Reads: 2,624
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
Mar. 30, 2017 12:45 AM EDT Reads: 704
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Mar. 29, 2017 09:30 PM EDT Reads: 2,466
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Mar. 29, 2017 06:30 PM EDT Reads: 2,773
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Mar. 29, 2017 04:30 PM EDT Reads: 1,719
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Mar. 29, 2017 04:15 PM EDT Reads: 3,929
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.
Mar. 29, 2017 03:15 PM EDT Reads: 2,290
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 29, 2017 02:30 PM EDT Reads: 2,356
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
Mar. 29, 2017 02:30 PM EDT Reads: 3,905
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
Mar. 29, 2017 02:30 PM EDT Reads: 834
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
Mar. 29, 2017 02:15 PM EDT Reads: 3,358
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
Mar. 29, 2017 01:30 PM EDT Reads: 1,822
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Mar. 29, 2017 11:45 AM EDT Reads: 2,651
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
Mar. 29, 2017 11:00 AM EDT Reads: 3,531
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Mar. 29, 2017 10:45 AM EDT Reads: 10,551
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Mar. 29, 2017 10:15 AM EDT Reads: 1,822