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Cognizant Q2 net rises
Special Correspondent
CHENNAI:
Cognizant Technology Solutions said its revenue for the second quarter (April-June 2005) increased to $211.7 million from $138.7 million in the second quarter of 2004. Net income for the second quarter increased to $36.0 million, or $0.25 per diluted share compared to $23.8 million or $0.17 per diluted share in the same quarter last year.
Operating margin for the quarter was 20 per cent, same as achieved in the second quarter of 2004.
Lakshmi Narayanan, President and CEO, said that the second quarter performance was driven by growing demand for the company's deep industry knowledge and expertise across an entire range of verticals. During the quarter, it signed up one of the largest pharmaceutical companies in the world as a new strategic client, he added. The quarter also saw an addition of 2,200 people, taking the total to 19,250.
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