IGATE Q1 Profit Rises - Quick Facts

(RTTNews) - iGATE Corp. (IGTE) reported that its first-quarter net income attributable to common shareholders rose to $38.02 million from $23.34 million in the same quarter last year. GAAP earnings per share grew to $0.46 from $0.29 per share in the previous year.

Non-GAAP earnings per share rose to $0.52 from $0.45 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.47 per share. Analysts' estimates typically exclude special items.

Revenues were $322.0 million, up 6.6% from $302.2 million in the first quarter of 2014; 9.3% on a constant currency basis. Wall Street expected revenues of $325.41 million for the quarter.

The company added 15 new clients during the first quarter.

Last month, The company entered into a definitive merger agreement under which Capgemini will acquire IGATE for cash consideration of $48 per share. The merger agreement has been approved unanimously by both Capgemini's and IGATE's boards of directors and is subject to the receipt of regulatory approvals and other customary closing conditions. The transaction is expected to close in the second half of 2015.