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Genpact Q4 beats, 2011 revenue outlook disappoints

Genpact Q4 beats, 2011 revenue outlook disappoints
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First Published: Mon, Feb 07 2011. 05 56 PM IST
Updated: Mon, Feb 07 2011. 05 56 PM IST
Bangalore: Genpact Ltd , a business process and technology services provider, posted quarterly profit that edged past estimates but forecast 2011 revenue below expectations as it continues to see longer sales cycles and smaller deal sizes.
For 2011, Genpact expects revenue growth of 10-13%, implying revenue of about $1.38-$1.42 billion.
Analysts on average were expecting revenue of $1.43 billion for 2011, according to Reuters.
Fourth-quarter net income attributable to shareholders rose 33% to $46 million, or 20 cents a share.
Genpact was started in 1997 as the India-based business process services unit of GE Capital, General Electric Co’s financial services business. GE, which spun off Genpact in 2005, remains Genpact’s largest client and contributed 38% of its 2010 revenue.
Shares of Bermuda-based Genpact closed at $15.29 Friday on the New York Stock Exchange.
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First Published: Mon, Feb 07 2011. 05 56 PM IST