Infosys Technologies Revenues to grow 22.6% - 24.6 %, expected to reach $ 4 billion in Fiscal 2008

Infosys Technologies Ltd has announced the following Business Outlook:

The company’s outlook (consolidated) for the quarter ending June 30, 2007 and the fiscal year ending March 31, 2008, under Indian GAAP and US GAAP, is as follows:

Outlook under Indian GAAP - consolidated

Quarter ending June 30, 2007**

- Income is expected to be in the range of Rs 38,960 million and Rs 39,130 million; YoY growth of 29.2% - 29.8%

- Earnings per share before exceptional item is expected to be Rs 17.84; YoY growth of 24.2%

Fiscal year ending March 31, 2008**

- Income is expected to be in the range of Rs 170,380 million and Rs 173,080 million; YoY growth of 22.6% - 24.6%

- Earnings per share***before exceptional item are expected to be between Rs 80.29 and Rs 81.58; YoY growth of 20.0% - 22.0%

** Conversion 1 US$ = Rs 43.10
*** Excluding tax reversal of Rs 1250 million in fiscal 2007

Outlook under US GAAP

Quarter ending June 30, 2007

- Consolidated revenues are expected to be in the range of US$ 904 million and US$ 908 million; YoY growth of 37.0% - 37.6%

- Consolidated earnings per American Depositary Share are expected to be US$ 0.41; YoY growth of 28.2%

Fiscal year ending March 31, 2008

- Consolidated revenues are expected to be in the range of US$ 3.95 billion and US$ 4.02 billion; YoY growth of 28.0% - 30.0%

- Consolidated earnings per American Depositary Share*** are expected to be between US$ 1.86 and US$ 1.89; YoY growth of 25.7% - 27.7%

*** Excluding tax reversal of US$ 29 million in fiscal 2007

"Our revenues are expected to grow to US$ 4 billion next fiscal," said S. Gopalakrishnan (Kris), COO, President and Joint Managing Director. "Our continuous investments in brand, infrastructure, technology, people, intellectual capital and service offerings have positioned us well to take full advantage of the continued globalization of services."

Source : Equity Bulls

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