MindTree Ltd., a global IT Solutions company, announced its results today for the quarter ended December 31, 2009, as approved by its Board of Directors. These figures represent the consolidated results for MindTree and its subsidiary, MindTree Wireless Pvt. Ltd., which it acquired in the previous quarter.
MindTree has proposed to revise its PAT and EPS guidance upwards for FY 2009-10. Accordingly, on a consolidated basis:
The above guidance assumes an exchange rate of INR 47.41 = 1USD for FY 2009-10.
Since its Initial Public Offering (IPO), MindTree has adopted a policy of providing an annual guidance on revenues, PAT and EPS. Given the changes in the external environment, we will discontinue this practice from FY 2010-11. However, in line with our philosophy of high transparency, we will provide qualitative information in reasonable detail and frequency to help investors understand the trends we are seeing in our business.
"We have begun to see a slow revival in the global economy which we hope will sustain itself and grow over the next few quarters. We are also seeing more confidence in our customers about their businesses," said MindTree CEO & Managing Director Krishnakumar Natarajan. "We are confident about our outlook for the future."
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause our actual results to differ materially from those in such forward-looking statements. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
MindTree Ltd. is a global IT Solutions company specializing in IT Services, Independent Testing, Infrastructure Management and Technical Support (IMTS), Knowledge Services and Product Engineering, which comprises of R&D Services, Software Product Engineering and Next In Wireless. MindTree partners with its clients to create a transparent, value-based relationship. Our people build innovative solutions in a wide range of technology domains that enable our customers to succeed in their business goals.
MindTree was ranked 45th among the leaders in The 2009 Global Outsourcing 100 by the International Association of Outsourcing Professionals. Widely known for its focus on human capital development, MindTree has been consistently rated among the most admired employers by several industry surveys, including Great Places To Work Institute, Hewitt Associates and Mercer. MindTree was ranked No. 1 among the Most Admired Knowledge Enterprise (MAKE) India Award winners for the second consecutive year in 2008. MindTree was ranked No. 2 in Asia and declared the overall winner in India in the Asiamoney Corporate Governance Poll 2009. The Company is publicly listed in India. Please visit us at www.mindtree.com.