Infosys surpasses $2 Billion Revenue mark. Will reward shareholders via special dividend
Infosys Technologies Ltd. (NASDAQ: INFY) announced that Fiscal 2006 revenue were $2.15 Billion after YoY growth of 35%. For the first time in the company’s 25 year history it surpassed the $2 Billion revenue mark. The company also announced plans to reward shareholders by paying three one time dividends.
1. It will give each shareholder of its American ADS an additional share for each one held.
2. It will also payout a ‘Silver Jubilee’ dividend of 67 cents per ADS.
3. Another final dividend of 19 cents per ADS.
Following are the highlights from the press release:
Consolidated results for the quarter ended March 31, 2006
- Fourth quarter revenues at $ 593 million, up 30.0% from the corresponding quarter last fiscal
- Earnings per American Depositary Share (ADS) increased to $ 0.56 from $ 0.47 in the corresponding quarter last fiscal
- Stock dividend to shareholders (including ADS holders) in the ratio of two for one (i.e. one additional ADS for every ADS held) subject to approval of shareholders
- Silver Jubilee special dividend of Rs. 30.00 per ADS (equivalent to $ 0.67 per ADS at the prevailing exchange rate of Rs. 44.48 per US$). Final dividend of Rs. 8.50 per ADS (equivalent to $ 0.19 per ADS at the prevailing exchange rate of Rs. 44.48 per US$). These dividends are payable at the prevailing exchange rate on the payment date and are subject to approval by the shareholders
- 38 new clients were added during the quarter. 9 clients contribute more than $ 50 million each in annual revenues
- Gross addition of 5,170 employees (net 3,293) for the quarter and 22,868 employees (net 15,965) for the year
- 52,715 employees as on March 31, 2006
Outlook for the quarter ending June 30, 2006 and the fiscal year ending March 31, 2007
- Consolidated revenues expected to be between $ 628 million and $ 633 million for the quarter ending June 30, 2006 (YoY growth of 31.9% – 33.0%) and between $ 2.76 billion and $ 2.80 billion for the fiscal year ending March 31, 2007 (YoY growth of 28.0% – 30.0%)
- Consolidated earnings per ADS expected to be between $ 0.56 and $ 0.57 for the quarter ending June 30, 2006; (YoY growth of 24.4% – 26.7%) and between $ 2.57 to $ 2.61 for the fiscal year ending March 31, 2007; (YoY growth of 26.0% – 27.9%)