QUOTE AND NEWS
The Hindu Business Line  Dec 4  Comment 
Danish business services firm ISS has sold its Indian cash and valuables services business to unlisted Indian company SIS Prosegur for an undisclosed amount. The unit, ISS CVS, has 6,000...
Reuters  Dec 3  Comment 
The main shareholders in Denmark's ISS said late on Tuesday they launched an accelerated bookbuilt offering to institutional investors of up to 25 million existing...
guardian.co.uk  Nov 26  Comment 
Oil and gas group recruited Helge Lund from Statoil, agreeing a £12m ‘golden hello’ in shares and a possible £13.5m a year Oil and gas group BG faces an all-out battle with its shareholders after the biggest investor advisory group, ISS,...
Forbes  Nov 26  Comment 
The ISS crew has successfully manufactured the first 3D object in space, a landmark that could pave the way for long-term space exploration.
Wall Street Journal  Nov 24  Comment 
Sandell Asset Management Corp. said influential proxy firm Institutional Shareholder Services is urging JDS Uniphase Corp. shareholders to vote against board member Martin Kaplan.
The Hindu Business Line  Nov 18  Comment 
The world’s first zero-gravity 3D printer has been installed by NASA on the International Space Station (ISS), which will help astronauts to experiment with additive manufacturing in microgravity.
Forbes  Nov 1  Comment 
Just a couple of days ago the space industry was rocked by news that an Orbital Sciences Antares rocket exploded just seconds after launch. The rocket was carrying over 5000 pounds of needed cargo to the International Space Station (ISS) as well...




 
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iSoftStone Holdings (NYSE:ISS) is a Chinese-based IT service provider with clients in China as well as globally. iSoftStone focuses on four main industries: technology, communications, financial services, and energy. The company has grown from 6 sales and delivery centers in 2007 to 19 centers, 12 in China, as of December 2010. These centers act to sell as well as provide support to clients on their IT needs. The company's clients include 71 Fortune 500 companies, 23 of which are located in China and 48 throughout the rest of the world.[1]

iSoftStone expects that the continued rise in IT outsouring will continue to drive demand. IT services have increasingly been outsourced by large businesses. This process allows the businesses to focus on their competitive advantage, while still giving them access to low cost IT support on a large scale. As a result, the demand for IT services in China is expected to rise by a compounded annual growth rate of 14.1% according to the IDC. Furthermore, the demand for Chinese software development is expected to grow by a CAGR of 22.4%.[2]

The company's initial public offering of stock on the NYSE occurred on December 13, 2010. The company offered 10.8 shares each for $13. This was at the high end of the revised range of $11-$13. The offering raised $141M. The lead underwriters of the deal were UBS AG (UBS), J P Morgan Chase (JPM), and Morgan Stanley (MS).[3]


iSoftStone announced a net revenue for 2009 of $134M. This corresponds to an increase of 63% over the 2008 figure of $82M. This rise in Net Revenue helped to pull the company to a net income of $9M in 2009. iSoftStone had reported a net loss of -$3K in 2008. The company also reported a net revenue figure of $135M for the first 9 months of 2010. This already exceeds its total figure for all of of 2009.[4]

References

  1. ISS F-1/A 2010 PROSPECTUS SUMMARY "Our Business" pg 1
  2. ISS F-1/A 2010 PROSPECTUS SUMMARY "Industry Background" pg 3
  3. Renaissance Capital iSoftStone Holdings prices IPO at $13, high end of the range 13 Dec 2010
  4. ISS F-1/A 2010 PROSPECTUS SUMMARY "Summary Consolidated Financial Data" pg 11
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