QUOTE AND NEWS
Benzinga  Nov 21  Comment 
In a report published Wednesday, Jefferies & Company reiterated its Buy rating on Pactera Technology International Ltd. (NASDAQ: PACT), but lowered its price target from $21.00 to $12.00. Jefferies noted, “On 11/15, PACT (formerly HSFT;...
StreetInsider.com  Oct 31  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Guidance/HiSoft+Technology+%28HSFT%29+Reaffirms+FY12%2C+Q3+Outlook/7829622.html for the full story.
StreetInsider.com  Aug 10  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/HiSoft+Technology+%28HSFT%29+Tops+Q2+EPS+by+1c%3B+Boosts+FY12+Outlook%2C+Guides+Q3/7649263.html for the full story.
StreetInsider.com  May 10  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/HiSoft+Technology+%28HSFT%29+Tops+Q1+EPS+by+2c%3B+Guides+Q2%2C+FY12+EPS%2C+Revs/7426536.html for the full story.
Marketwire  May 1  Comment 
DURHAM, NC -- (Marketwire) -- 05/01/12 -- Mi-Co, a leading mobile e-forms software company, honored HiSoft International, a value-added reseller for its flagship Mi-Forms mobile e-forms platform, at the Awards Luncheon during the Mi-Co PartnerEd 2012
Forbes  Mar 16  Comment 
HiSoft Technology (HSFT) is a Zacks #1 Rank (Strong Buy) following two consecutive earnings beat and higher earnings estimates.
Benzinga  Mar 1  Comment 
Stifel Nicolaus raises its price target on Buy-rated HiSoft Technology International (NASDAQ: HSFT) to $22, from $20, on strong business fundamentals. Stifel Nicolaus notes, "We remain very positive on the risk/reward associated with this name...
Benzinga  Aug 16  Comment 
Stifel Nicolaus is out with its report today on HiSoft Technology International (NASDAQ: HSFT), raising its PT to $22 from $20. In its report, Stifel Nicolaus writes, "HSFT trades at 7-8x 2012E EPS, ex cash, a 45-50% discount to its comps;...
StreetInsider.com  Aug 15  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/HiSoft+Tech+%28HSFT%29+Tops+Q2+EPS+by+1c%3B+Guides+Q3%2C+Raises+FY11+Outlook/6718481.html for the full story.
Benzinga  Jul 8  Comment 
HiSoft Technology International Limited (NASDAQ: HSFT) announced today that it has acquired 100% of the equity interests in Nouveon Technology Partners, Inc. Under the terms of the agreement, HiSoft will pay an initial consideration of US$5.5...




 
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HiSoft Technology Int'l (HSFT) (NASDAQ:HSFT) provides information technology and research and development services for companies in the U.S. and Japan. The company is based in China. According to International Data Corporation, in 2009, this company ranked second largest China-based provider of outsourced software development services by revenue. The customers are mainly technology and financial services. As of 31 March 2010, technology clients accounted for 60.9% of net revenues and financial services accounted for 24.6% of net revenues. [1]

With rapidly changing economic and business horizons, corporations are facing intense competition and increased globalization. In order to keep pace upgrading and expanding technology platforms, corporations can keep fixed costs low by outsourcing its IT. According to IDC, the worldwide offshore IT services market has grown from $13.1 billion in 2005 to $31.1 billion in 2009. [1]

The company filed an initial public offering (IPO) on the NASDAQ on 30 June 2010. The company's stock priced at $10.00, below the range of $11.00-$13.00. The company offered 7.4 million shares to raise $74 million. [1]

For FY2009 with year ended 31 December 2009, the company had net revenues of $91.46 million, down 9.2% from $100.72 million in net revenues for FY2008. Furthermore, the company had a net income of $7.36 million in FY2009, a large increase from a net loss of $10.7 million in FY2008. As of 31 March 2010, the revenues were distributed with 51.1% in IT services and 48.9% in research and development. [1]

References

  1. 1.0 1.1 1.2 1.3 HiSoft Technology Int'l F-1/A
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