Hisoft Technology International HSFT delivered its first set of public quarterly results, coming in with strong earnings with top line beating the Street by 5%. On top of that, HSFT has provided very upbeat guidance, expecting FY10 revenues to grow 56%-64%, moderately higher that the Street’s expectations of 47%.
HSFT reported 2Q10 total net revenues of $34.7M(+64% YOY), ~5% higher than Citi estimates. Also, the company notes that GAAP EPS came in at US$0.17, better than Citi/Street’s US$0.14/$0.12, respectively.
Citi reiterates its “buy/high risk” rating on shares of HSFT and its price target of $16.00. HSFT is currently trading at $15.24.
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