{"id":32180,"date":"2012-08-10T11:55:00","date_gmt":"2012-08-10T11:55:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/hisoft-hsft-solid-growth-and-earnings-raises-full-year-guidance\/32180\/"},"modified":"2012-08-10T11:55:00","modified_gmt":"2012-08-10T11:55:00","slug":"hisoft-hsft-solid-growth-and-earnings-raises-full-year-guidance","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/hisoft-hsft-solid-growth-and-earnings-raises-full-year-guidance\/32180\/","title":{"rendered":"HiSoft &#8211; HSFT &#8211; Solid Growth and Earnings; Raises Full-Year Guidance"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><strong>HiSoft Technology International Limited (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=HSFT\">NASDAQ: HSFT<\/a>)<\/strong>, a leading China-based provider of outsourced information technology and research and development services headquartered in Dalian, China, announced its unaudited financial results for the second quarter of 2012 ended June 30, 2012.<\/p>\n<p><strong>HSFT &#8211; Highlights<\/strong><\/p>\n<p><strong>HSFT &#8211; Second Quarter 2012 as compared to Second Quarter 2011<\/strong><\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<ul>\n<li>Net revenues were US$71.8 million, up 41.1%<\/li>\n<li>Gross profit was US$25.6 million, up 42.7%<\/li>\n<li>Diluted net income per ADS1 was US$0.20, compared to US$0.12<\/li>\n<li>Non-GAAP2 diluted net income per ADS was US$0.30, compared to US$0.18<\/li>\n<li>Total employees as of June 30, 2012 was 7,814, compared to 6,410<\/li>\n<\/ul>\n<p>\u201cWe are pleased to report a solid increase in revenue while maintaining a healthy improvement in our margins in the second quarter 2012,\u201d said HiSoft Chief Executive Officer Tiak Koon Loh. \u201cThis sound performance testifies to our strong market position and disciplined execution in our growth strategies.\u201d \u201cIn the second quarter, our CPS revenue grew by 157% and our Greater China business continued to lead as a growth driver recording a 109% year-over-year increase in revenue. We are also pleased to see positive results reflected in our BFSI revenue which grew 67% year-over-year, contributing 31% of our total revenue. Our domestic BFSI practice remains especially robust,\u201d he said.<\/p>\n<p>Loh concluded, \u201cWhile our underlying operating performance is solid, we cannot ignore weaker economic conditions in much of the world which may moderate our growth. Despite macro-economic uncertainties, we believe our sturdy foundation of domain expertise, global presence, wide range of service lines and talented human resource pool will enable us to drive the delivery of quality services and deliver sustainable growth.\u201d<\/p>\n<p><strong>HSFT &#8211; Second Quarter 2012 Financial Results<\/strong><\/p>\n<p><strong>Net Revenues<\/strong><\/p>\n<p>Net revenues were US$71.8 million for the second quarter of 2012, an increase of 41.1% from US$50.9 million for the corresponding period in 2011. The strong year-over-year growth in net revenues was driven by strong demand across all service lines and key geographic markets.<\/p>\n<p><strong>Gross Profit and Gross Margin<\/strong><\/p>\n<p>Gross profit was US$25.6 million for the second quarter of 2012, an increase of 42.7% from US$18.0 million for the corresponding period in 2011. During the second quarter of 2012, gross margin was 35.7% compared to 35.3% for the corresponding period in 2011. The improvement in gross margin was primarily due to increased sales in higher value-added services.<\/p>\n<p><strong>About HiSoft Technology International Limited &#8211; HSFT<br \/>\n<\/strong><\/p>\n<p>HiSoft Technology International Limited (HSFT) is a leading China-based provider of outsourced information technology and research and development services headquartered in Dalian, China. HiSoft provides its services to leading companies around the world through a combination of onshore and offshore delivery capabilities. HiSoft leverages its skilled technology specialists and client-centric delivery centers to offer customers reliable and high-quality technology solutions.<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20120812021020\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fthestockmarketwatch.com%2Fstock-market-news%2Fhisoft-hsft-solid-growth-and-earnings-raises-full-year-guidance%2F32180&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/nordstrom-boosts-full-year-earnings-guidance-jwn\/32228\">\nNordstrom Boosts Full-Year Earnings Guidance (JWN)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-gain-1-for-the-week\/32226\">\nGold Prices Settle Higher, Gain 1% for the Week<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-bounce-back-in-late-trading-all-three-major-index-finish-higher\/32202\">\nStocks Bounce Back in Late Trading; All Three Major Indexes Finish Higher<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/gold-prices-gain-on-hopes-of-monetary-easing-from-china-silver-prices-also-up\/32200\">\nGold Prices Gain on Hopes of Monetary Easing from China; Silver Prices also Up<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/stocks-headed-for-a-lower-finish-38\/32197\">\nStocks Headed for a Lower Finish<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/u-s-stocks-pare-initial-losses-but-remain-in-red\/32193\">\nU.S. Stocks Pare Initial Losses but Remain in Red<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/vanceinfo-vit-hisoft-technology-hsft-signed-a-definitive-merger-agreement\/32181\">\nVanceInfo &#8211; VIT &#8211; hiSoft Technology &#8211; HSFT &#8211; Signed a definitive merger agreement<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HiSoft Technology International Limited (NASDAQ: HSFT), a leading China-based provider of outsourced information technology and research and development services headquartered 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