iGATE reports Third Quarter Results for 2013
iGATE Corporation has announced its financial results for the third quarter and nine months ended September 30, 2013.
The key financial results reveal that the revenue in the third quarter has increased by 8.2% year-over-year and 3.6% sequentially. The company has achieved $293.4 million in Q3, 2013 compared to $271.1 million in Q3, 2012 and $283.3 million in Q2, 2013.
The net income attributable to iGATE Corporation increased by 12.7% year-over-year and 6.3% sequentially. It was $31.9 million in Q3, 2013, compared to $28.3 million in Q3, 2012 and $30.0 million in Q2, 2013. GAAP diluted EPS increased by 11.1% and the company earned $0.30 per share in Q3, 2013 compared to $0.27 per share in Q3, 2012.
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Ashok Vemuri, President & CEO, iGATE, said, I am pleased with our ability to accelerate revenue growth both sequentially and year-over-year. I am also happy with the quality of deals we are winning that are longer-term in nature with focus on innovation and productivity gains to our customers.
Moreover, iGATE added eight new customers during the quarter including two Fortune 1000 companies and ended the third quarter of 2013 with over 28,200 employees.
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