New Jersey: IT consultancy Cognizant has reported strong fourth quarter and full year revenue growth.
Revenue for the fourth quarter of 2012 rose to $1.95 billion, up 17.1% from $1.66 billion in the fourth quarter of 2011. Net income was $278.8 million compared to $240.1 million in the fourth quarter of 2011.
"We are pleased to once again deliver industry-leading revenue growth in 2012," said Francisco D'Souza, Chief Executive Officer of Cognizant.
"As we look to 2013, it is clear that secular industry shifts, new technology architectures, virtual business models and changing demographics are forcing clients to re-examine how they operate. Increasingly, clients are finding incremental levels of performance inadequate and are challenging the status quo to find ways to maintain their market leadership."
"When confronting their business challenges, clients not only look to Cognizant to help them run their operations better, but increasingly turn to us to help them run their operations differently in order to differentiate themselves in the market and drive topline growth," said Gordon Coburn, President of Cognizant.
"Given our strong client relationships and our deep consulting and domain expertise, Cognizant is uniquely positioned to address clients' dual mandate of 'running better' and 'running different' from one global platform."
Full Year 2012
Revenue for 2012 increased to $7.35 billion, up 20.0% from $6.12 billion for 2011. Net income was $1.05 billion compared to $883.6 million in 2011.
The firms says it expects 2013 revenue to grow 17%.