Infosys Technologies announces Business Outlook for FY 2006-2007

Infosys Technologies Ltd has announced the following Business Outlook:

The company’s outlook (consolidated) for the quarter ending December 31, 2006 and the fiscal year ending March 31, 2007, under Indian GAAP and US GAAP, is as follows:

Outlook under Indian GAAP - consolidated

Quarter ending December 31, 2006**

- Income is expected to be in the range of Rs 3,602 crore and Rs 3,625 crore; YoY growth of 42.3% - 43.2%

- Earnings per share* are expected to be Rs 16.84; YoY growth of 42.2%

Fiscal year ending March 31, 2007**

- Income is expected to be in the range of Rs 13,853 crore and Rs 13,899 crore; YoY growth of 45.5% - 46.0%

- Earnings per share* are expected to be Rs 66; YoY growth of 46.6%

Outlook under US GAAP

Quarter ending December 31, 2006

- Consolidated revenues are expected to be in the range of $ 790 million and $ 795 million; YoY growth of 41.3% - 42.2%

- Consolidated earnings per American Depositary Share* are expected to be $ 0.37; YoY growth of 42.3%

Fiscal year ending March 31, 2007

- Consolidated revenues are expected to be in the range of $ 3.03 billion and $ 3.04 billion; YoY growth of 40.6% - 41.1%

- Consolidated earnings per American Depositary Share* are expected to be $ 1.44; YoY growth of 41.1%

* Adjusted for the issue of bonus shares in the ratio of 1:1 allotted on July 15, 2006

** conversion 1 $ = Rs 45.60

"We saw strong double-digit sequential growth during the quarter," said S Gopalakrishnan, COO, President and Joint Managing Director. "Package Implementation, Testing, Consulting and Business Process Management services are growing fast. We have built the necessary scale and momentum into these services for rapid growth."

"Our business model provides a compelling value proposition to clients in a flat world," said Nandan M Nilekani, CEO and Managing Director. "Our robust organic growth coupled with investments in various strategic areas helped us to grow faster in this environment. We have revised our guidance to cross $ 3 billion in revenues this fiscal."

Source : Equity Bulls

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