Syntel Shares Jumped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Syntel (NAS: SYNT) jumped today, enjoying gains as high as 22%, after the company reported fourth-quarter and full-year earnings this morning.
So what: Revenue in the quarter jumped 19% to $172.4 million, clearing the way to earnings per share of $1.05. Both top and bottom lines handily bested consensus estimates. Full-year sales similarly put up a 21% gain, to $642.4 million, with earnings per share of $2.94.
Now what: Syntel expects fiscal 2012 revenue to between $720 million and $750 million, with earnings per share between $3.10 and $3.35. CEO Prashant Ranade said Syntel continues to focus on investing in its people, services, and infrastructure as it expands its relationships with its customer base. The company added 26 new clients throughout the year and grew its global headcount to over 19,000 employees.
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