HiSoft 2nd-quarter profits, revenue beats analysts’ expectations
By APWednesday, August 18, 2010
HiSoft 2Q profit, revenue beat expectations
NEW YORK — HiSoft Technology International Ltd., a Chinese software-development outsourcing service, said its second-quarter net income more than doubled as revenue surged.
Net income in the three months to June 30 rose to $3.8 million, or 17 cents per American Depositary Share, compared to $1.7 million, or 9 cents per share, a year ago.
Revenue grew 64 percent to $34.7 million from $21.2 million.
Excluding items such as share-based compensation expenses, adjusted earnings came to 24 cents per share.
That trumped the 16 cents per share of earnings expected by analysts polled by Thomson Reuters. Analysts also expected smaller revenue of $31.4 million.
HiSoft’s U.S.-traded shares rose 18 cents, or 1.4 percent, to $12.72 in after-hours trading Wednesday, after closing up 34 cents, or 2.8 percent, to end the regular session at $12.54.
