Cognizant (NASDAQ: CTSH), a leading provider of IT and business process outsourcing services, today announced that the Company has been named one of BusinessWeek's 50 Best Performing Companies. Cognizant ranked 12th overall and second in the Information Technology sector. The rankings represent BusinessWeek's selection of the "best in class" from each of the 10 sectors that make up the S&P 500. Top companies in each sector were chosen based on sales growth, average return on capital, total return, profitability and rank within industry sector.
BusinessWeek calls this year's 50 best performers "companies that are rewriting the rules in their industries." In achieving this distinction, Cognizant is deemed one of "the agitators, the pioneers, and the game-changers that are leading the way in the 21st century." This is Cognizant's first year in the rankings, which are published in the March 26, 2007 issue of BusinessWeek.
"We are honored to be recognized by BusinessWeek for the success of our strategy and strong financial and operating performance," said Francisco D'Souza, President and CEO, Cognizant. "What distinguishes Cognizant in the market is our steadfast commitment to partnering with our customers to strengthen their businesses while providing a tangible return on their IT investments. This recognition is a testament to the hard work and dedication of our talented employees around the world, who have made Cognizant a leader in the global IT services industry and a world-class performing business and enabled us to deliver strong financial performance and increased value to our shareholders."
Cognizant is the only IT services outsourcing company named to the BusinessWeek 50. This achievement follows the Company's #6 ranking among Business Week's Hot Growth Technology Companies in December. Cognizant's profile in the Business Week 50 and the overall rankings are accessible at http://www.businessweek.com/magazine/content/07_13/b4027401.htm.
Cognizant (NASDAQ: CTSH) is a leading provider of 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 over 40,000 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.
FCMN Contact: email@example.com
CONTACT: Malcolm Frank, Senior Vice President, Marketing and Strategy
for Cognizant, +1-617-273-9282, Malcolm.Frank@cognizant.com; Investors: Gordon
McCoun, Press: Brian Maddox, or Scot Hoffman, firstname.lastname@example.org, all for
Financial Dynamics, +1-212-850-5617
Web site: http://www.cognizant.com/