north bergen,new jersey 4/23/2010 2:13:55 AM
News / Business

Syntel Inc Net Income Drops 8% in the First Quarter.

Syntel Inc Stumbles in the first 3 months Ending March 31st.

Syntel Inc, an information technology company, said Thursday that its net income fell 8 percent in the first quarter. Syntel Inc. trades on the “NASDAQ” under the stock symbol “SYNT”.

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Syntel Inc (NASDAQ:SYNT), an information technology company, said Thursday that its net income fell 8 percent in the first quarter as a stronger Indian rupee and increasing offshore wages more than compensated an increase in revenue. Net income in the three months to March 31 fell to $25.1 million, or 60 cents per share, from $27.3 million, or 66 cents per share, in the same period a year earlier Revenue rose 20 percent to $116 million from $96.4 million. Syntel said it expects 2010 earnings per share between $2.20 and $2.50, while analysts, on average, expect profit of $2.36 per share. Syntel also predicted full-year revenue between $445 million and $470 million. (About Syntel Inc)

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