HiSoft Technology Bid Higher on Q3 Beat
Shares of HiSoft Technology (NASDAQ: HSFT) are bid higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are bid $12.31, at $14.37; they ended the regular session lower by 0.08%, at $11.87.
HiSoft Technology reported Q4 EPS of $0.26 on revenues of $58.9 million; the Street was looking for $0.22 per share on revenues of $56.22 million. Revenues increased 51.4% year over year.
"We continued to successfully execute our growth strategy in the third quarter, beating our guidance and reporting strong results across all service lines and major geographical markets," said HiSoft Chief Executive Officer Mr. Tiak Koon Loh.
"We are particularly pleased to see momentum building from our efforts investing into higher value-added solutions, as we now record 20% of our net revenues being derived from the higher value-added solution services in our consulting and packaged solutions category. Growth in this category of solution services also helped contribute to our second consecutive quarter of improvement in operating profit margins."
The company sees FY2011 EPS in the range of $0.90-0.91; the Street was at $0.82 per share.
HiSoft Technology International Limited is a holding company. The company is a China-based provider of outsourced information technology and research and development services, primarily for companies in the United States and Japan.
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