UPDATE: iGate Posts Higher Q3 Profit

iGate

posted a rise in its third-quarter profit. iGate's quarterly net income surged to $28.3 million, or $0.27 per share, from $14.3 million, or $0.10 per share, in the year-ago period. Excluding non-recurring items, the company earned $0.46 per share. Its revenue climbed 2% to $271.1 million. However, analysts were expecting earnings of $0.37 per share on revenue of $277.21 million. iGate shares closed at $17.82 yesterday.