Cognizant (NASDAQ: CTSH), a leading provider of IT services, today announced that the Company has been named in the top 10 of Business Week's Hot Growth Technology Companies. Cognizant ranked 6th overall and was the #1 ranked IT services Company. In determining this year's rankings, BusinessWeek evaluated companies based on sales and profit growth, total return to shareholders, return on equity, and overall sales.
"We are honored to be recognized by BusinessWeek for our track record of tremendous growth and to be named among the world's best known technology brands," said Francisco D'Souza, President and CEO, Cognizant. "This recognition is a testament to our passion to helping our customers build stronger businesses and our commitment to investing in our future growth. We are confident that our commitment to delivering greater returns on outsourcing and high levels of customer satisfaction will continue to fuel strong demand for our services and drive our growth well into 2007, while continuing to generate long-term value for our shareholders."
Cognizant's ranking among the Tech Top 50 follows the Company's #16 placement among Business Week's Hot Growth 100 in June 2006, the publication's prestigious annual ranking of the fastest growing companies across all industries. The Company has achieved Hot Growth 100 recognition five times.
BusinessWeek noted, "Name a handful of financial-services, insurance, or health-care companies, and most will probably have outsourced the management of their information technology resources to companies in India, and often it's Cognizant they call." Cognizant's review and the rankings are accessible at http://images.businessweek.com/ss/06/12/1221_techgrowth/source/7.htm.
Cognizant (NASDAQ: CTSH) is a leading provider of IT 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 38,000 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. 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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