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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • IGATE Net Income Rises 14% 0 comments
    Oct 10, 2013 11:05 AM | about stocks: IGTE

    Originally published at www.seclive.com

    iGATE Corporation (NASDAQ:IGTE) announced its third quarter fiscal 2013 financial results, topping analyst expectations for revenue and earnings performance. The company reported revenues that improved 8% from $271.1M a year ago to $293.4M, topping Wall Street estimates by around $4M. Net income rose 14% from $20.8M and $0.27 earnings per share this quarter last year to $23.8M and $0.30 earnings per share. The company is continuing to trend upward, adding eight new customers to its portfolio. iGATE announced last month that Ashok Vemuri will serve as the company's president and CEO, replacing Gerhard Watzinger who was serving as interim president after the company fired prior CEO Phaneesh Murth over inappropriate relations with a subordinate and sexual harassment claims.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: IGTE
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