Sapient Reports Third Quarter 2012 Results

Sapient (NASDAQ: SAPE) today reported the following financial results for the third quarter ended September 30, 2012:
  • Service revenues were $288.5 million compared to $262.7 million in the third quarter of 2011, an increase of $25.7 million, or 9.8%. Sequentially, service revenues were up $9.5 million, or 3.4%, from $279.0 million in the second quarter of 2012. On a constant currency basis, revenues increased 10.9% over the third quarter of 2011 and increased 3.3% sequentially.
  • GAAP income from operations was $32.8 million, or 11.4% of service revenues, compared to $29.9 million, or 11.4% of service revenues, reported in the third quarter of 2011.
  • Non-GAAP income from operations was $42.4 million, or 14.7% of service revenues, compared to $38.9 million, or 14.8% of service revenues, reported in the third quarter of 2011.
  • GAAP diluted net income per share was $0.15, compared to $0.14 in the third quarter of 2011.
  • Non-GAAP diluted net income per share was $0.20, compared to $0.18 in the third quarter of 2011.

“We are pleased with our strong performance this quarter as clients continue to partner with us due to our highly differentiated capabilities,” said Sapient Chief Executive Officer and Co-Chairman Alan J. Herrick. “We are in a strong market position and excited about the future, despite the uncertain economic environment. The strategic addition of the teams from Iota and Second Story extends SapientNitro’s capabilities in the areas of consumer insights and interactive storytelling.”

The company generated cash from operations of $37.1 million in the third quarter of 2012, compared to $43.5 million in the third quarter of 2011. As of September 30, 2012, the company had cash, cash equivalents and marketable securities of $212.4 million. Days sales outstanding was 67 days for the third quarter of 2012, up from 66 days in the second quarter of 2012 and 66 days for the third quarter of 2011.

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