Cognizant Technology Solutions Corp. (CTSH). The Teaneck, N.J.-based IT services provider late Thursday said fourth-quarter net income rose to $96.3 million, or 32 cents a share, from $69.5 million, or 23 cents a share, in the same period last year. On an adjusted basis, earnings were 36 cents a share, beating the mean estimate of analysts polled by Thomson Financial for 31 cents a share.
Fourth-quarter revenue increased 41% to $600 million from $424.4 million in last year's comparable period. The company provided guidance for first-quarter adjusted earnings of 36 cents a share and sales of at least $640 million.
The stock is up 3.50 to $31 premarket.
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