Cognizant maintains full-year outlook

TEANECK, N.J. - Information technology and outsourcing company Cognizant Technology Solutions Corp. said Wednesday it expects fourth-quarter earnings of at least 38 cents per share.

Excluding stock-based compensation and other items, the company expects adjusted earnings of at least 43 cents per share.

Analysts, on average, are predicting a profit of 38 cents per share, including stock options costs, according to a poll by Thomson Reuters.

Cognizant projected revenue of at least $746.7 million for the quarter, compared with analysts' forecast of $751 million.

The company said that although its third-quarter revenue performance was stronger than expected, it is not changing its full-year outlook "in light of the current environment which requires caution and prudence."

For the full year, the company expects earnings of at least $1.45 per share, adjusted earnings of $1.61 per share and revenue of at least $2.81 billion.

Analysts expect a profit of $1.44 per share on sales of $2.8 billion.

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