Thursday, July 7, 2011

iGate Corporation (NASDAQ: IGTE): Q2 Earnings Preview 2011

iGate Corporation (NASDAQ: IGTE) is scheduled to release its second-quarter earnings before the opening bell on Wednesday, July 13, 2011. Analysts, on average, expect the company to report earnings of 8 cents per share on revenue of $177.40 million. In the year ago quarter, the company reported earnings of 20 cents per share on revenue of $66.85 million.

iGATE Corporation provides outsourcing solutions that offer a business outcome based pricing model through an integrated Technology and Operations (iTOPS) structure with global service delivery. The company counts General Electric and Royal Bank of Canada among its top customers.

In the preceding first quarter, the Fremont, California-based company's net income was $17.9 million, or 22 cents per share, compared to $11.6 million, or 16 cents per share, in the comparable quarter last year. On an adjusted basis, the company earned 23 cents per share in the latest quarter. Revenue rose 31 percent to $75.8 million from $57.9 million last year. Analysts, on average, expected the company to report earnings of 27 cents per share on revenue of $78.34 million.

During the quarter in review, the company close its $1.2 billion acquisition of Patni Computer Systems. iGate will report consolidated quarterly results from the April-June quarter. CEO Murthy is aiming for a gross margin of 40-41 percent, 20% operating margin level and 25% EBITDA for the combined company within two years. The company expects second-quarter sales for the combined company to be flat on a sequential basis.

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