Cognizant reports robust Q4FY10 numbers

Nasdaq-listed Cognizant Technology Solutions continues its good show during the fourth quarter as well after having reported strong performances during the first three quarters of the financial year ending December 2010, giving enough indications that it is well on course to become India’s third largest IT services provider replacing the incumbent Wipro to the fourth spot in the league table.

The company’s revenues during the December quarter surged 45.2% y-o-y to $1.31 billion compared to $902.7 million in the same quarter of the previous fiscal year while the net income grew equally impressively by 43.2% to $206.2 million ($0.66 per diluted share) against $144.0 million ($0.47 per diluted share), during the same period. The company’s GAAP operating margin for the quarter stood at 18.7%. The company also net added over 8,300 employees which took its total headcount to approximately 104,000, as of December 2010.

The company’s revenue for FY’10 too was up 40.1% to $4.59 ($2.37 per diluted share) from $535.0 million ($1.78 per diluted share), during the same period. 

Francisco D'Souza, President and Chief Executive Officer, Cognizant, said, “Clients increasingly turn to us as they look to outsource a broader range of services and simultaneously address the secular and technological shifts impacting their industries.” Expecting to sustain the company’s growth momentum, he added, “We believe that these trends, and our resilience in meeting them, should provide strong support for growth as we enter 2011.”

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(In thousands, except per share amounts)
	Three Months Ended				Twelve Months Ended
	December 31,				December 31,
	2010		2009		2010		2009
Revenues	$ 1,310,602		$ 902,721		$ 4,592,389		$ 3,278,663
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization expense shown separately below)	758,023		520,796		2,654,569		1,849,443
Selling, general and administrative expenses	279,921		190,678		972,093		721,359
Depreciation and amortization expense	28,037		24,339		103,875		89,371
Income from operations	244,621		166,908		861,852		618,490
Other income (expense), net:
Interest income	6,139		6,139		25,793		15,895
Other, net	(2,216)		(4,450)		(9,065)		2,566
Total other income (expense), net	3,923		1,689		16,728		18,461
Income before provision for income taxes	248,544		168,597		878,580		636,951
Provision for income taxes	42,378		24,593		145,040		101,988
Net income	$    206,166		$ 144,004		$    733,540		$    534,963
Basic earnings per share	$          0.68		$       0.49		$          2.44		$          1.82
Diluted earnings per share	$          0.66		$       0.47		$          2.37		$          1.78
Weighted average number of common
shares outstanding - Basic	303,631		295,602		300,781		293,304
Weighted average number of common
shares outstanding - Diluted	311,776		304,615		309,137		301,115

In our earlier report we’d expected the company to maintain the growth rate of about 40% in its top line so as to jump ahead of Wipro by the March quarter of 2011. The latest report further vindicates that. To read the said report visit: http://businessviewsreviews.blogspot.com/2011/01/stories-abound-about-how-cognizant-is.html

The company in its guidance has said that it expects the first quarter 2011 revenue to be at least $1.36 billion i.e., a sequential growth of about 3.82%. Revenues for the FY’11 is expected to be at least $5.79 billion, up at least 26% compared to 2010, a press release from the company said.

The guidance given by the company seems to be slightly conservative. Nevertheless, Wipro, which has initiated major overhauls including replacement of its dual-CEO structure with that of a single CEO and restructuring of its IT businesses post-its disappointing results during the just concluded December quarter, can ill-afford to relax.

Maybe the much hyped duel between two of India’s most accomplished information technology companies can only do loads of good to them, enabling them to compete well with their bigger global, and also domestic, rivals.

Who says competition is bad.  At least we’re not saying that.

Amy, Chief Editor

You can contact the author at: chiefeditor@addonviews.com

Eunice Yap @ RIcky Teng Wedding Dinner

Ricky Ting and Eunice Yap wedding dinner. i'm here. located at Sitiawan. this is my 2nd Wedding Dinner in Sitiawan. the first wedding dinner was Sharon Lau Wedding.


On stage for Cake and Champaign ceremony .


Eunice Yap and Ricky Ting Entering the hall.


Eunice Yap and Don'z..


Congratulation on your marriage, i'm happy for you both :)


i have no camera on that day, photo mostly taken with my iphone3gs,

Singapore Property – The Top 5 Highest Yielding Projects

In light of the recent round of measures that imposes a harsh Seller’s Stamp Duty for a lengthy period of time (16%, 12%, 8% and 4% for years 1, 2, 3 and 4 respectively), the focus of property investors will now have to shift from the short term to the long term, and from capital gains to rental yield.

With the help of the Analytics team at Propertyguru, I have put together a list of the 5 projects in Singapore with the highest gross rental yields. Getting this list involved going through Propertyguru’s entire database of listings. The methodology for the gross rental yield calculation was to take the average annualized asking rental per square foot for apartments in each project and dividing that by the asking sale price per square foot. Note that we do not include any other ancillary costs such as maintenance fees, so the net rental yields will be lower. Only projects with listings both for sale and rental were included in this exercise, and room rentals were excluded.
And now the list of the top 5 highest yielding projects (drumroll please)…

Sims Green

In fifth place is Sims Green, a 99-year leasehold development located at Lorong 27A in Geylang. At an average asking price of $577 psf and rental of $2.59 psf/month, you get a gross rental yield of 5.4%. Completed in 2004 and situated near Aljunied MRT station, the 108 units here enjoy condo facilities such as swimming pool, BBQ pits, gym and playground.

Lilydale
Next is Lilydale, yielding 5.6% with an average asking price of $564 psf and rental of $2.61 psf/month. A 99-year leasehold development located at Yishun Avenue 6, it is a few minutes’ drive to Yishun MRT Station and is also close to Seletar Country Club and Orchid Country Club. Completed in 2003, residents of the 318 units enjoy condo facilities such as a swimming pool, BBQ pits, gym, tennis court, multi-purpose hall, and playground.

Lilydale

Atrium Residences

In third place is Atrium Residences, a freehold development located at Lorong 28 in Geylang. Close to 10 minutes walk from Aljunied MRT station, this project has a gross yield of 5.6% with an average selling price of $674 psf and asking rental of $3.16 psf/month. It is a relatively new development (completed in 2009), comprises 142 units and has facilities such as a swimming pool, BBQ pits, gym, and clubhouse.

People’s Park Complex

The second highest yielding project in the Propertyguru database is People’s Park Complex, which is yielding 5.7% with an average asking price of $812 psf and rental of $3.86 psf/month. It is an old 99-year leasehold development (completed in 1970) that is in a prime location just opposite Chinatown MRT Station.

People's Park Complex

Wing Fong Mansions

And the highest yielding development is Wing Fong Mansions – at an asking price of $626 psf and monthly rental of $3.03 psf, it has a gross yield of 5.8%. A freehold development located at Lorong 14 in Geylang, it is minutes away from the upcoming Mountbatten MRT Station. Completed in 1997, it comprises 218 units and has facilities such as a swimming pool.

From my observation, the highest yielding projects tend to fall into the following categories: 1) Projects in further away (e.g. Yishun) or unpopular (e.g. Geylang) areas that are located close to MRT stations and 2) Centrally located leasehold projects that are very old.

The key to getting a high rental yield is a low per square foot price (you can see that all the projects in the top 5 have a psf of less than $1,000) combined with good “rentability” (close to MRT, centrally located, good facilities). If you’re focusing on rental yield (as opposed to just capital appreciation), prime projects in Orchard or Marina Bay are unlikely to be your ideal targets.

[ Article extracted from propwise ]

Ratatouille being converted to 3D

Pixar Animation Studios is re-rendering their 2007 hit Ratatouille into the 3D format for a theatrical release. Will other Pixar animated films get the same treatment?

Disney/Pixar re-released a 3D version of Toy Story 1 & 2 in theaters last fall to mild success and hopes to repeat the act by converting their 2007 collaboration, Ratatouilleinto the third dimension for another run on the big screen.

3D has been all the rage for animated films this year, especially for tentpole studio pics likeHow to Train Your Dragon, Shrek Forever After, Toy Story 3, and Despicable Me. Disney is hoping to cash in on the craze by re-releasing in theaters two of their traditionally animated films, Beauty & the Beast and The Lion King in 3D over the next few years.

Pixar began releasing their films in 3D last year with Up and will likely continue doing so for their next few films as well. According to their Stereoscopic Supervisor Bob Whitehall, Pixar’s computer-animated work does not actually require the same post-production process used to convert films like The Last Airbender into 3D – instead, he and his fellow animators can simply re-render the original frames of an animated feature for the 3D format.

In an interview with HeyUGuys, Whitehall insisted that the 3D conversion process withRatatouille requires only that “minor modifications” be made to the film’s camera angles and character animation. Whitehall also mentioned that he was working with director Brad Bird on the project, so that no significant changes are made to the feature that Bird does not approve of.

Ratatouille arguably seems the most natural fit for a conversion to 3D than any of Pixar’s other, pre-Up releases. The film is filled with several impressive tracking shots that follow Remy (voice of comedian Patton Oswalt) throughout the Parisian plumbing and sewage system – even in 2D, it does an excellent job of immersing viewers in the world of its tiny protagonist. The only downside is that the 3D conversion might diminish the impeccable crispness and texture of Pixar’s original animation.

Whether older Pixar titles like Finding Nemo or A Bug’s Life will be eventually converted into 3D as well remains up in the air for now. So long as moviegoers’ interest in the craft doesn’t fade too quickly, it is entirely possible that almost every Pixar movie could be re-released in 3D in the future. I imagine the more action-driven films like The Incredibles and Cars would be first in line for the treatment after Ratatouille - should that be the case.

We’ll keep you posted on when Ratatouille could possibly end up reaching 3D theaters. Meanwhile, you can check out Pixar’s latest 3D feature, Toy Story 3 in theaters now.

Source: HeyUGuys (via First Showing)

Read More: Ratatouille, Toy Story 3

This is what happened in January

Nothing.  Which was lovely.

Okay, not nothing, but apparently nothing I felt deserved any pictures, so maybe I’ll just highlight each person and call it good.

 

Emma

Emma competed in a piano competition.  There was an astounding lack of practicing involved, even after an embarrassing rehearsal in front of her orchestra class.  Fortunately (or unfortunately?), she had an amazing judge that really spent a good 10 minutes giving her tips and the second highest rating possible. 

She’s kind of casting around for something to do after school.  She was worried that she would be too busy (this might be the ONLY way she doesn’t take after her mother) and so didn’t sign up for any extra-curricular anything. We are debating a city choir or sewing lessons to fill her time.  As for now, she plays A LOT with Faith and so maybe we should just leave well enough alone?

She’s also growing like crazy (12 next week!). And so Ryan is constantly wondering why her clothes are so tight.  I didn’t buy them that way, I promise…she’s just turning into an almost teenager apparently.  At least she knows how to put clothes together well…cute sense of style.

 

Gabe

He had his first swim meet.  He was really nervous, but had no reason to be as he took 2nd in both events (breaststroke and butterfly).  He LOVES swim practices, even when it/s 12 degrees, snowing and he just got home from Math is Cool.

He also feels the need to steal my phone and take 7200 self-portraits.  I find stuff like this: 

every day.

He’s become a huge reader as well.  He’s finished 39 Clues and is on to Harry Potter.  He loves to stay up late reading AND he loves to wake up early to read.  I wish he needed as little sleep as Emma…all these early mornings/late nights have resulted in some forced early bedtimes due to grouchiness.

 

Jane

It’s so funny/pathetic how much she DIES to have any sort of one-on-one time with an adult.  She gets so excited about her 20 minutes Speech Therapy at school and was on cloud nine when she got to go to the Stake Baptism Preview with just Mom and Dad.  Ryan has been spending a few minutes at bedtime with a different kid each night and she’s always convinced it’s her turn.

After a letter regarding Jane’s lateness was sent home last month, she is proud to announce she hasn’t been late in 5 weeks.  Of course there are many tears, and even a few last minute paid rides to school, but we are celebrating around here.

She gets along great with Seth, less great with Emma and Gabe.  My latest argument solving tactic involves sending the disagree-ers out to the COLD garage to “work it out”.  I tell them I’m happy to work it out for them, but since it “drains my energy” they’ll need to restore my energy with a chore.  They usually opt for self-mediating…and the 20 degree temperature in the garage seems to hurry them along.

 

Seth

He really really really really really really really really talks a lot.  Really a lot.  I have no way to properly convey the amount of talking that goes on.  It’s cute and funny.  And exhausting.  (Really.  Try having someone talk in your ear for 4 hours straight.  See if you say, at the grocery store “Seriously.  You cannot open your mouth on more time till we are in the car or you are in trouble.”)  It’s also not particularly socially acceptable, so we are working on when it’s his turn and when it’s the rest of world’s turn.

He also really really really really really really really really does a lot of arts and crafts.  Ask anyone if they’ve ever been around him for more than 15 minutes without him sitting down to cut, draw, tape, glue, or color something.  Look for him in the Louvre someday.

 

Faith

She is SO GOOD right now.  A friend commented the other day “She seems to have really matured in the last few weeks” and it’s true.  It’s like a few rational switches have flipped on in her head and we’ve only had 2 rage-induced barfing episodes in the last 6 weeks.  YAY! 

She is talking like a 3 year old.  It’s so fun.  Honestly when someone who is 3 feet tall with a little munchkin voice says stuff like “I show you how I draw a dog.  Oops, mom!  Dat not a dog!  I sink dat a balloon I draw!” you pretty much want to die of cuteness attacks.

While talking like a champ, we sometimes worry about her hearing.  She grunts “huh?!” about 48 times a day.  It doesn’t sound funny when I type it, but I really think she acts like a 88 year old man, with a cone to his hear (“Eh?!”) half the time.

Cute stuff that I have to record:  She calls all of her siblings “guys”.  Like:  “The guys home from school afer my nap, mom?”  or “Hey!  I hear guys now, mom!”.  She also is big into arguing “Yes you was, Sef!” over and over.  And if she’s doesn’t know something she tells us, “I not know!”  And also, in case you were wondering, “I not Yike that salad, mom!”

 

Ryan

Same stuff.  His work paid for everyone to go to a hockey game, with a catered dinner on the floor of the arena.  We left the little kids at home and had a great time. 

He’s exercised every day since the New Year and is pretty proud of it.  Head over to our sports club around 5:30 and you’ll see him riding an exercise bike, with a BIG huge marketing text balanced on the handlebars.

Also, he’s been Mr Fun FHE lately.  We have a guy in our ward, who seriously is one of the best jump-ropers in the nation.  Seriously.  Ryan asked him to meet us at the church and do some demonstrations.  Best Family Home Evening on record. 

 

Jessica

I’m doing better.  I think the no-sugar (yay! Down 14 lbs), extra prayers, less computer and counseling appoinments are making a difference, I think.

I truly have the most active, fun group of friends/ward and have a girls night, or a couples date or a recipe group or a play group to go to 3 days a week.  I’ve actually NOT done 2-3 things, in a effort to put my energy where it’s most needed, and Ryan’s been shocked.  Mostly it’s rejuvenating, but I’m trying to strike that balance.

I pretty much wrote the most boring summary ever—was there a single piece of humor in these last 10 paragraphs?  Whatever.  Now I can go cross this thing off my list!

Gold Prices – Poised for a fall?

The yellow metal is seen as a safe invest against runaway inflation and a falling US dollar. However, skeptics concern that the yellow metal has gone too high, too fast and a serious correction could be round the corner.

From the time when the global financial crisis started (2007), gold continued its safe heaven status for many people. During the last couple of years, real estate stagnated and most currencies lost their value, while the prices of gold rose to the sky and became a favorite among the investment community. Now with the emerging signs of inflation creeping in, the yellow metal even becoming more admired as investors reflect on safety and looking for the best way to hedge against inflation.

It is well known fact that during the times of war, falling currencies and inflationary pressures, gold is always the popular safe haven. Thus the yellow metal is not only a currency for the elite, but it actually holds real worth, unlike the US paperback dollar whose value can fluctuate as wildly as we have seen during the last couple of years.

But on the other hand, skeptics feel that the yellow metal has gone too high, too fast and a serious correction could be round the corner. We have seen global bullishness of the yellow metal in 2010 – as prices soared 30% from January 2010 to their December peak. But as prices dissipated in recent weeks, analysts say the short-term deliberate interest has turned more negative towards gold driven by improved sentiment on the US economy recovery and the concerns over euro zone sovereign debt abating. Amidst this, analysts at Citi rated their gold price outlook downside with sings of the past three years’ risk-trade frittering away and as resilience is apparently restored in the developed markets.

Nevertheless, turmoil in Egypt would not have come at a better time for gold. Moreover, the growing demand from Chinese New Year celebration (the largest consumers of late) and growing geopolitical risk has provided a new support.  The US-based Donald Trump, the largest high profile investors who openly argues his bullish outlook on gold and strongly condemns US policies said in an interview recently, “I think gold will go up as long as people don’t have confidence in our president and our country. And they don’t have confidence in our president.”

Analysts foresee that a bit of downward pressure in the near term, but as economic woes continue to drive investors into safe-haven and thus the prices of yellow metal will be headed higher in 2011. However, think a while, is the latest gold craze is way overcooked? It remains to be seen whether the yellow metal may loose some of its appeal as a safe heaven in 2011.

Jany, Lead Economist

Nokia : Dial ‘S’ for Shakeup

The world’s top mobile handset maker is reportedly considering a major managerial shakeup. The Finland-based Nokia is lagging behind rivals such as Apple and Research in Motion in the fast-growing smartphone market. And, in a fresh debacle for the company, its symbian mobile operating system lost out its market leadership to Google’s Android during the December quarter of 2010; Android was launched only two years ago. According to data from US-based research firm, Canalys, worldwide shipments of Android-based smart phones reached 32.9 million versus 31 million smart phones which run on Nokia’s Symbian platform, during Q4 of CY 2010.

The latest rejig is being seen as another desperate attempt by the world’s largest handset maker to protect its eroding market share in key markets such as China and India besides regaining its lead in the mobile o/s market. Last year, the company had initiated a series of steps that included layoffs, cost-restructuring and to top it all the installation of its first ever non-Finnish CEO in Stephen Elop, an ex-Microsoft hand. However, there are yet no signs of things improving up for the Finnish giant with some reports even suggesting that its hold over the inexpensive handset segment too has come under threat from low-cost competitors like Micromax and Karbonn in India and ZTE in China, even as it struggles to find an answer to iPhone. “The N95 was a big hit. Ever since they have struggled,” Reuters quoted Michael Walkley, analyst at Canaccord, as saying. “The new CEO is getting challenged on both ends. They are very much pressured in the low end of the market.”

Nokia’s Slip

Top Five Mobile Phone Vendors, Shipments, and Market Share, Q4 2010

 (Units in Millions)

Vendor	2010 Unit Shipments	2010 Market Share	2009 Unit Shipments	2009 Market Share		Year-over-year Change
Nokia	123.7	30.8%	126.8	37.2%	-2.4%
Samsung	80.7	20.1%	68.8	20.2%	17.3%
LG Electronics	30.6	7.6%	33.9	10.0%	-9.7%
ZTE	16.8	4.2%	9.5	2.8%	76.8%
Apple	16.2	4.0%	8.7	2.6%	86.2%
Others	133.4	33.2%	92.8	27.3%	43.8%
Total	401.4	100.0%	340.5	100.0%	17.9%

Source: IDC Worldwide Mobile Phone Tracker, January 28, 2011

As a result, Nokia's market share in India has halved in just few quarters, from 60% to 30%, Reuters said quoting data by global research firm, Gartner. “We remain concerned about market share issues in the low-end due to local competition in emerging markets such as India and Middle East and Africa,” Reuters cited another report by UBS. As per the latest data from IDC, Nokia’s overall unit volume slipped 2.4% in the fourth quarter of 2010, which the Finnish major attributed to the ‘intense competitive’ environment and component shortages.

Given that, skeptics are not too happy as they feel that the former Microsoft veteran who is now entrusted with the challenging task of restoring Nokia’s market supremacy amidst intensifying competition has so far done little to send a strong signal. His only major move has been the appointment of the company’s first-ever chief marketing officer. In contrast, rivals led by Google are fast seizing the opportunities in not just the mobile phone o/s but also emerging segments like the table PC which is being dubbed as the future of personal computing. 

But don’t expect Nokia to remain quite for long. Maybe a fight back might be around the corner.

  

Google topples Nokia

 

Amy, Lead Editor