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HCL Technologies Q1 2012 Revenues at US$ 1,002 mn, up 24.7% YoYRevenues From Americas Cross US $2 billion (LTM) (October 18, 2011)
SUNNYVALE, CA and NOIDA, INDIA -- (Marketwire) -- 10/18/11 -- HCL Technologies Ltd. (HCL), a leading global IT services provider, today announced results for the quarter ended September 30 2011. In this 1st Quarter of FY 2012, HCL's revenues reached $ 1,002 mn, up by 5.1% sequentially and 21.9% YoY.
HCL Americas' business posted a revenue increase of 20% YoY in Q1 FY 2012 and 6.8% QoQ. The region's revenues reached a strategic milestone of $2 billion (LTM).
The company also announced a 'Milestone Share Program' for all its employees to mark its billion dollar quarter of July-August-September 2011. Under this program, all employees who are on HCL's payroll as of Oct 14, 2011 will receive a minimum amount equivalent of 5 shares* and a maximum amount equivalent of 10 shares based on years of tenure at HCL.
Commenting on the quarterly results for the Americas, Dr. Shami Khorana, President, HCL Americas, said, "The positive results attained by HCL in the 1st quarter of the current financial year in the Americas demonstrate our continued momentum in several key high-growth verticals. During the quarter, we continued to capture market share while adding jobs and expanding our near-shore infrastructure in the U.S. We recently unveiled our new Collaborative Engineering Hub in Redmond, WA., and plan to add significant number of jobs in the region over the next few years. We will continue to build world-class facilities, expand our employee training and development initiatives and attract top local talent to meet growing customer demand in the US."
"We are also proud of crossing the $1 billion quarterly revenue mark, having doubled the quarterly revenues in just three years (JAS 2008 to JAS 2011) despite the tough economic environment. This tremendous momentum has been achieved thanks to our Employees First philosophy which has created a high performance culture inside the organisation," he added.
HCL Americas highlights for Q1 FY 2012:
- HCL was invited to be a Mentor of the World Economic Forum's Annual Meeting of New Champions (AMNC) Summit which was held in Dalian, China.
- HCL was chosen by Fortune Magazine in its first ever global "Executive Dream Team" which the publication described as an "all star leadership" that could lead any company through turbulent times and "could coalesce and dominate in any industry". Vineet Nayar, Vice Chairman and CEO of HCL Technologies was included in this prestigious list and also emerged as a reader's choice in a worldwide poll which selected eight other global stalwarts for the prominent honor including Late Steve Jobs, ex- Chairman, Apple, Anne Mulcahy, Former Chair & CEO, Xerox, Tim Cook, CEO, Apple, Patrick Pichette, CFO, Google, Joe Tripodi, CMO, Coco Cola, Jonathan Ive, SVP of Industrial Design, Apple, Rob Carter, CIO, FedEx and Susan Chambers, EVP, Global People Division, Wal-Mart.
- HCL has been ranked in Forbes Asia's prestigious annual listing of the 50 best publicly traded companies in Asia-Pacific called 'Asia's Fab 50 Companies'. HCLT has made it to this list for the second consecutive year.
- HCL has been conferred with the prestigious Asian Human Capital Summit 2011 Award by Ministry of Manpower Singapore and INSEAD for its innovative and impactful people practices centered on its Employees First, Customers Second (EFCS) philosophy. HCL's Vice Chairman and CEO Vineet Nayar received the award from Brigadier General (NS) Tan Chuan-Jin, Minister of State for Manpower and National Development, Singapore. The Human Capital Leadership Institute (an initiative of Ministry of Manpower Singapore and The Singapore Economic Development Board ) also published a case study on EFCS 2.0
- HCL opened a new state-of-the-art Global Delivery Center in Redmond, Washington. With an initial investment of $4 million in this facility, HCL will create more than 400 jobs in the Seattle area over the next two years. HCL's 'Collaborative Engineering Hub' in Redmond will support its continued global expansion and increased focus on business innovation in software product development, test engineering and business critical platform development and will be a strong focal point for HCL's nearshore complex engineering programs.
- InformationWeek conferred ValueHonors Awards on eight HCL customers including Avago Technologies, Cathay Pacific Airways, Cummins Inc., Electrolux, Old Mutual Wealth Management, Purdue Pharma, Xerox and a Fortune 500 pharmaceutical company. InformationWeek evaluated more than 100 Fortune 1000 and Global 2000 companies from across the globe for these awards. There was a stringent nomination process in which enterprises demonstrated objective evidence of value creation across five categories: Best Service Desk, Best Data Center Transformation, Best Cloud Strategy, Best Transition Management and Most Responsive to Business.
- HCL Technologies has been recognized as a Leader in Gartner's Magic Quadrant for Data Center Outsourcing and Infrastructure Utility Services, North America, authored by William Maurer, David Edward Ackerman, Bryan Britz and Helen Huntley, published on 20 July 2011. (The Gartner Magic Quadrant is copyrighted 2011 by Gartner, Inc., and is reused with permission. The Magic Quadrant is agraphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose).
- HCL has undertaken a strategic implementation of the SAP® Customer Relationship Management (SAP CRM) application and an upgrade of SAP® for Utilities solutions at Sacramento Municipal Utility District (SMUD), a community-owned electric utility serving more than 1.4 million people. SMUD is utilizing HCL to help support its smart-grid initiatives through a comprehensive customer service and billing upgrade. SMUD has one of the most innovative smart-grid programs in North America.
- Vancouver City Savings Credit Union has selected HCL's CapitalStream Straight Through Processing (STP) solution to be its enterprise-wide lending platform. Through this engagement Vancity is expanding its relationship with HCL that began seven years ago when CapitalStream was selected to manage all lines of business lending (small, medium and large businesses). The solution is now being extended for use at Vancity's 59 retail banking locations thus providing a single solution to manage all of the credit union's lending operations.
HCL Technologies - Financial Highlights
- Q1 Revenues at US$ 1,002 mn, Up 5.1% QoQ & 21.9% YoY in constant currency
- Revenues Up 4.1% QoQ & 24.7% YoY on reported basis
- Net Income at US$ 107 mn; up 49.1% YoY
- Gross Employee addition of 9,311 during the quarter taking total headcount to 80,520
Americas - Financial Highlights
- Americas Q1 2012 Revenues at US$2 billion (LTM)
- Americas Revenues up 20% YoY and 6.8% QoQ
*HCL Technologies Closing Share Price as of October 17th, 2011 on National Stock Exchange (NSE), India
About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on 'transformational outsourcing', underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of 'Employees First, Customers Second' which empowers our 80,520 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, has reported consolidated revenues of US$ 3.7 billion (Rs 16,977 crores), as on 30 September 2011 (on LTM basis). For more information, please visit www.hcltech.com
About HCL Enterprise
HCL is a $6 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 85,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. HCL has partnerships with several leading global 1000 firms, including leading IT and technology firms. For more information, please visit www.hcl.com
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes',' strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, BusinessProcess Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For Details, Contact:
HCL America Inc.
Phone Number - 973-393-6225
HCL America Inc.
Phone Number - 949-310-7209
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