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UPDATE 1-Genpact Q3 results beat market, stands by FY rev view

Wed Nov 4, 2009 9:33pm IST
 
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* Q3 adj EPS $0.19 vs est $0.15

* Q3 rev $284.4 mln vs est $282.9 mln

* Reaffirms 2009 revenue growth outlook * Raises 2009 adj oper margin view to 17.5-18 pct

Nov 4 (Reuters) - Business process and technology services provider Genpact Ltd (G.N: Quote, Profile, Research) posted third-quarter results that topped market expectations, driven by a rise in global client revenue, and reaffirmed its 2009 revenue growth forecast.

Genpact reaffirmed its forecast of a 6 percent to 9 percent growth in revenue for 2009 and raised its adjusted operating margin outlook to between 17.5 percent and 18 percent, from its prior view of 17 percent to 17.5 percent.

"Client demand is coming back, decision-making is improving and our pipeline is strong," Chief Executive Pramod Bhasin said, adding that pricing is still competitive, but appears to be stabilizing.

Third-quarter net income was $33.1 million, or 15 cents a share, compared with $33.6 million, or 15 cents a share, a year-ago. Excluding items, it earned 19 cents a share.

Revenue rose 5 percent to $284.4 million, helped by a 17.4 percent increase in global client revenue, which is revenue from customers other than General Electric Co (GE.N: Quote, Profile, Research).

Analysts on average were expecting a profit of 15 cents a share on revenue of $282.9 million, according to Thomson Reuters I/B/E/S.  Continued...

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