First Quarter Highlights
· Revenues for first quarter 2013 increased by 4% to $274.9 million from $263.3 million in the first quarter 2012.
· Net Income attributable to iGATE Corporation for first quarter 2013 increased by 44% to $34.8 million from $24.1 million in the first quarter 2012.
· Gross margin was 38.1 % for the first quarter 2013 compared to 40.2 % in the corresponding quarter in 2012.
· Diluted earnings per share of $0.34 GAAP; $0.51 non-GAAP as compared to $0.22 and $0.38 for the same period in 2012.
· Added ten new customers during the quarter; six of which are Fortune 1000 companies.
· The company ended the first quarter 2013 with 28,204 employees
· iGATE launched its inaugural iGATE CEO Golf Cup on January 12-13, 2013 in association with Forbes and the NYSE
Phaneesh Murthy, CEO, iGATE said, “I am pleased to see a steady start to the year. We have made significant investments in sales, marketing and branding in our markets. The pace at which we are adding quality new clients is satisfying.”
Sujit Sircar, CFO, iGATE said, “I am happy to see good earnings growth during the quarter. Our margins were a bit lower as a result of the visa related costs that we partially absorbed in the quarter.”
