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TORONTO, ONTARIO -- (Marketwired) -- 08/18/14 -- TD Sponsored Companies Inc. announced today that both Institutional Shareholder Services Inc. ("ISS") and Glass Lewis have recommended that shareholders of TD Split Inc....
DailyFinance  Aug 15  Comment 
Sandell Asset Management Corporation (“Sandell”), one of the largest shareholders of Bob Evans Farms, Inc. (NASDAQ:BOBE) (“Bob Evans” or the “Company”), today reminded shareholders that to follow the ...
Forbes  Aug 11  Comment 
Chinese-American astronaut Leroy Chiao is a bit of a contrarian. He advocates embracing China, rather than shunning it, in the new space race to Mars. He also says America’s relationship with Russia on travel to the International Space Station...
TheStreet.com  Aug 11  Comment 
NEW YORK (The Deal) -- In a partial blow to Bob Evans Farms , proxy advisory firm Institutional Shareholder Services  on Friday recommended that shareholders support four of eight dissident director nominees put forth in a bid to take control of...
Benzinga  Aug 8  Comment 
Bob Evans Farms, Inc., (Nasdaq: BOBE) today announced that Institutional Shareholder Services ("ISS") did not recommend that Bob Evans stockholders turn control of the Board over to nominees of Sandell Asset Management. Contrary to the heading in...
Market Intelligence Center  Aug 7  Comment 
Thursday headlines include: A new order for Boeing, Bank of America reportedly nearing a settlement with the Justice Department, ISS backing a special meeting of Allergan's shareholders, 21st Century Fox beating earnings estimates and Dish...
Wall Street Journal  Aug 6  Comment 
Institutional Shareholder Services backed William Ackman's attempt to force a special meeting of Allergan shareholders, joining rival proxy adviser Glass Lewis.
Forbes  Jul 30  Comment 
Arianespace has successfully launched a cargo vessel set to dock with the ISS on August 12.
Wall Street Journal  Jul 24  Comment 
The biggest proxy adviser is challenging the nearly $49 million 2013 pay package given to Sprint Corp.'s chief executive and opposing the re-election of a board member to the compensation committee.
Reuters  Jul 23  Comment 
Proxy advisor ISS has recommended that Fiat investors vote against a cross-border merger between Fiat and its U.S. unit Chrysler at a meeting on Aug. 1, saying it would...




 
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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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