2. iGate (IGTE) is a provider of Information Technology and IT-enabled operations, offering services across a gamut of verticals like financial services and health care.
Revenues for the third quarter stood at $74.8 million, a 52.6% jump compared to same period, last year.
Nonetheless, gross margin dipped 39.4%, compared to 41.1% during the same period prior year. However, operating margin scaled up 20.3% in the September quarter, expanding 170 basis points in the corresponding quarter last year.
Reviewing third quarter results, the company's CEO Phaneesh Murthy said, "Our strong revenue, margin growth and recent client wins are a positive affirmation that our business model and messaging is resonating well with our customers."Net income rose to $14.3 million, compared to $8.9 million during the same period last year. Higher net profits have strengthened the balance sheet, and Sujit Sircar, iGate's COO, says, "We continue to generate strong operating cash flow and our balance sheet is further strengthened with cash and cash equivalents and short-term investments of over $120 million." The stock is trading at 18 to 19 times its 2011 earnings.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV