Syntel Posts Higher Profit In Q3; Revises FY Outlook - Quick Facts

(RTTNews) - Syntel, Inc. (SYNT), an IT services provider and Knowledge Process Outsourcing or KPO company, said its third-quarter net income rose to $59.4 million or $1.42 per share, from $51.5 million or $1.23 per share a year ago. On average, 12 analysts polled by Thomson Reuters expected earnings per share of $1.23 for the period. Analysts' estimates typically exclude one-time items.

Quarterly net revenues increased 13 percent to $209.9 million from $186.4 million in the prior-year period. Analysts estimated revenues of $208.63 million for the quarter. During the third quarter, Applications Outsourcing accounted for 77 percent of total revenue, with KPO at 15 percent, e-Business contributing seven percent and TeamSourcing at one percent.

Based on the current visibility levels and an exchange rate assumption of 61 Indian Rupees to the dollar, the firm now sees 2013 revenue of $810 million to $815 million and EPS of $4.90 to $5.00. Analysts project full-year earnings of $4.74 per share, on $811.92 million in revenues.