IGATE Q4 Profit Rises - Quick Facts

(RTTNews) - IGATE Corp. (IGTE) reported that its fourth-quarter net income attributable to shareholders increased year-over-year to $32.84 million from $24.85 million. The company reported a GAAP loss per share of $0.63 including $80 million paid to Series B preferred stock holders for the induced conversion and $1.7 million towards write-off of unamortized preferred stock issuance cost, compared to profit per share of $0.30 in the fourth quarter of 2013. Non GAAP earnings per share were $0.52 for the quarter.

On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.55 for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $331.50 million from $299.33 million, last year. Analysts expected revenue of $330.43 million for the quarter.