Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a leading provider of global IT and business process outsourcing services, today announced that it has been named to the 2007 Fortune 100 Fastest-Growing Companies List for the fifth consecutive year, making it the only company receiving the "Five-year all-stars" distinction on this year's list. This feat is unmatched by any company, and is a reflection of Cognizant's consistent year-over-year growth.
In this year's rankings, Cognizant outpaced other technology outsourcing industry competitors as the only IT outsourcing firm to rank on Fortune's list, and was also recognized in the strongest sales growth sub-listing. The report appears in the September 17 issue of FORTUNE, available on newsstands September 10 and online with an expanded look at: http://money.cnn.com/magazines/fortune/fortunefastestgrowing/2007/perennials/ index.html. Due to length of URL, please cut and paste into browser.
"2007 has been year of stellar progress for Cognizant. We are honored to be ranked as the only company to make the prestigious Fortune 100 Fastest Growing Companies List for five consecutive years," said Francisco D'Souza, president and CEO, Cognizant. "This recognition is a testament to our dedicated associates and loyal clients that have allowed us to deliver a long track record of strong growth. Our passion is to ensure that we deliver innovation and value to our clients."
"IT services provider Cognizant appears for the fifth consecutive year in a row, giving it the longest current streak," says Yuval Rosenberg and Eugenia Levenson in their synopsis of the current list. "This year's list of FORTUNE's 100 Fastest-Growing Companies offers a fascinating snapshot of which sectors -- and in particular, which companies-have blossomed in recent times."
To qualify for this year's Fortune 100 Fastest Growing Companies listing, a company must be incorporated in the U.S.; have a minimum market capitalization of $250 million; have a stock price of at least $5; have been trading continuously since June 30, 2004; have revenue and net income for the four quarters ended on or before May 31, 2007, of at least $50 million and $10 million, respectively; and have posted a compound annual growth in revenue and earnings per share of at least 25 percent annually over the three years ended on or before May 31, 2007.
Cognizant (NASDAQ: CTSH) is a leading provider of global IT and business process outsourcing services. Focused on delivering strategic information technology solutions that address the complex business needs of its clients, Cognizant uses its own on-site/offshore outsourcing model to provide applications management, development, integration, and reengineering; infrastructure management; business process outsourcing; and numerous related services, such as enterprise consulting, technology architecture, program management, and change management.
Cognizant has more than 47,000 employees who are committed to partnerships that sustain long-term, proven value for customers by delivering high-quality, cost-effective solutions through its development centers in India and on-site client teams. Cognizant maintains P-CMM, SW-CMM and CMMI Maturity Level 5 assessments from an independent third-party assessor and ranked among the top information technology companies in Business Week's Hot Growth Companies and Forbes Global 2000 list. Cognizant is a member of the NASDAQ-100 Index and the S&P 500 Index. Find additional information about Cognizant at www.cognizant.com.
This press release includes statements which may constitute forward- looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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