UPDATE: VanceInfo Technologies Q3 Net Profit Drops 59%
VanceInfo Technologies Inc (NYSE: VIT) reported a 59% drop in its Q3 profit.
VanceInfo Technologies expects Q4 earnings of $0.19 to $0.21 per share on revenue of at least $84 million. However, analysts expected income of $0.25 per share on revenue of $78 million.
VanceInfo Technologies' quarterly profit declined to $3.2 million, or $0.07 per share, from $7.7 million, or $0.18 per share, in the year-ago period. Excluding certain items, VanceInfo Technologies earned $0.14 per share. VanceInfo Technologies' revenue climbed 26% to $70.3 million. VanceInfo Technologies in August projected earnings of $0.19 to $0.21 per share on revenue of $69 million to $72 million.
VanceInfo Technologies' gross margin dropped to 34.1% from 36.3%.
VanceInfo Technologies shares dropped 0.22% to close at $8.87 yesterday.
