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Benzinga  Jul 30  Comment 
M Group, Inc. (NYSE: OMG) today announced that both proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis & Co., LLC have recommended that their clients vote FOR adoption of the merger agreement dated May 31, 2015...
TheStreet.com  Jul 29  Comment 
NEW YORK (TheStreet) -- Allstate  has been selling various forms of insurance since 1931. It is a well-managed company that sports an ISS Governance QuickScore of 1. A 1 (one) rating by ISS is the best rating that Institutional Shareholder...
Insurance Journal  Jul 27  Comment 
PartnerRe Ltd. investors should reject a planned merger with rival reinsurer AXIS Capital Holdings Ltd. and instead opt for a bid of more than $6.7 billion from Italy’s EXOR SpA, ISS Proxy Advisory Services said in a report. “A vote against...
Forbes  Jul 26  Comment 
The previous week in space found Earth's twin, a hole-punching Pulsar, a galactic nursery and more.
CNNMoney.com  Jul 20  Comment 
Elon Musk will hold a press call at 3 p.m. ET to give more details about what caused SpaceX's latest launch to go awry.
Cloud Computing  Jul 20  Comment 
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever...
Cloud Computing  Jul 6  Comment 
SYS-CON Events announced today that Intelligent Systems Services will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Established in 1994,...
TechCrunch  Jun 30  Comment 
 While there were no humans on board and no accidents on the ground, the lost cargo contained over 4,000 pounds of food, water, and science experiments for the crew on station. William Gerstenmaier, NASA associate administrator for human...




 
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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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