Cognizant Q2 Profit Up 51

Jessica Perry//July 28, 2005

Performance helped by demand from the financial services, retail and manufacturing, telecommunications and health care sectors.Teaneck-based technology services provider Cognizant Technology Solutions (Nasdaq: CTSH) posted a 51% rise in second-quarter net income, boosted by higher demand for its services.

Net income rose to $36 million, or 25 cents per share, from $23.8 million, or 17 cents per share, a year earlier. Quarterly revenue increased to $211.7 million, up 53% from the year-ago quarter, driven by healthy demand for its technology services from the financial services, retail and manufacturing, telecommunications and health care sectors.
In morning trading Cognizant shares were down $1.95 to $48.10.

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