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INFY » Topics » Our revenues and expenses are difficult to predict and can vary significantly from quarter to quarter, which could cause our share price to decline.

This excerpt taken from the INFY 6-K filed Jul 28, 2005.

 Our revenues and expenses are difficult to predict and can vary significantly from quarter to quarter, which could cause our share price to decline.

                  Our revenues and profitability have grown rapidly in recent years and are likely to vary significantly in the future from period to period. Therefore, we believe that period-to-period comparisons of our results of operations are not necessarily meaningful and should not be relied upon as an indication of our future performance. It is possible that in the future some of our results of operations may be below the expectations of market analysts and our investors, which could cause the share price of our equity shares and our ADSs to decline significantly.

 
Factors which affect the fluctuation of our operating results include:
   
• the size, timing and profitability of significant projects, including large outsourcing deals;
   
• changes in our pricing policies or the pricing policies of our competitors;
   
• the proportion of services that we perform at our development centers or at our client sites;
   
• the effect of wage pressures, seasonal hiring patterns, attrition, and the time required to train and productively utilize new employees, particularly information technology, or IT, professionals;
 
• the size and timing of facilities expansion;
 
• expenditures in connection with the submission of proposals for larger, more complex client engagements;
 
• unanticipated cancellations, contract terminations, deferrals of projects or delays in purchases, including those resulting from our clients’ efforts to comply with regulatory requirements, such as the Sarbanes-Oxley Act of 2002, or those occurring as a result of our clients reorganizing their operations;
 
• utilization of billable employees; and
 
• unanticipated variations in the duration, size and scope of our projects, as well as changes in the corporate decision-making process of our client base.
 

                 A significant part of our total operating expenses, particularly expenses related to personnel and facilities, are fixed in advance of any particular period. As a result, unanticipated variations in the number and timing of our projects or employee utilization rates, or the accuracy of our estimates of the resources required to complete ongoing projects, may cause significant variations in our operating results in any particular period.



                  There are also a number of factors, other than our performance, that are not within our control that could cause fluctuations in our operating results from period to period. These include:

 
• the duration of tax holidays or tax exemptions and the availability of other incentives from the Government of India;
 
• currency fluctuations, particularly when the rupee appreciates in value against the dollar, the United Kingdom Pound Sterling or the Euro, since the majority of our revenues are in these currencies and a significant part of our costs are in rupees; and
 
• other general economic factors.
 
This excerpt taken from the INFY 20-F filed Apr 26, 2005.

Our revenues and expenses are difficult to predict and can vary significantly from quarter to quarter, which could cause our share price to decline.

 

Our revenues and profitability have grown rapidly in recent years and are likely to vary significantly in the future from period to period. Therefore, we believe that period-to-period comparisons of our results of operations are not necessarily meaningful and should not be relied upon as an indication of our future performance. It is possible that in the future some of our results of operations may be below the expectations of market analysts and our investors, which could cause the share price of our equity shares and our ADSs to decline significantly.

 

Factors which affect the fluctuation of our operating results include:

 

  •   the size, timing and profitability of significant projects;

 

  •   changes in our pricing policies or the pricing policies of our competitors;

 

  •   the proportion of services that we perform at our development centers or at our client sites;

 

  •   the effect of wage pressures, seasonal hiring patterns, attrition, and the time required to train and productively utilize new employees, particularly information technology, or IT, professionals;

 

  •   the size and timing of facilities expansion;

 

  •   expenditures in connection with the submission of proposals for larger, more complex client engagements;

 

  •   unanticipated cancellations, contract terminations, deferrals of projects or delays in purchases, including those resulting from our clients’ efforts to comply with regulatory requirements, such as the Sarbanes-Oxley Act of 2002, or those occurring as a result of our clients reorganizing their operations;

 

  •   utilization of billable employees; and

 

  •   unanticipated variations in the duration, size and scope of our projects, as well as changes in the corporate decision-making process of our client base.

 

A significant part of our total operating expenses, particularly expenses related to personnel and facilities, are fixed in advance of any particular period. As a result, unanticipated variations in the number and timing of our projects or employee utilization rates, or the accuracy of our estimates of the resources required to complete ongoing projects, may cause significant variations in our operating results in any particular period.

 

There are also a number of factors, other than our performance, that are not within our control that could cause fluctuations in our operating results from period to period. These include:

 

  •   the duration of tax holidays or tax exemptions and the availability of other incentives from the Government of India;

 

  •   currency fluctuations, particularly when the rupee appreciates in value against the dollar, since the majority of our revenues are in dollars and a significant part of our costs are in rupees; and

 

  •   other general economic factors.

 

5

Table of Contents
This excerpt taken from the INFY 6-K filed Feb 23, 2005.

Our revenues and expenses are difficult to predict and can vary significantly from quarter to quarter, which could cause our share price to decline.

 

Our revenues and profitability have grown rapidly in recent years and are likely to vary significantly in the future from period to period. Therefore, we believe that period-to-period comparisons of our results of operations are not necessarily meaningful and should not be relied upon as an indication of our future performance. It is possible that in the future some of our results of operations may be below the expectations of market analysts and our investors, which could cause the share price of our equity shares and our ADSs to decline significantly.

 

Factors which affect the fluctuation of our operating results include:

 

  •   the size, timing and profitability of significant projects;

 

  •   changes in our pricing policies or the pricing policies of our competitors;

 

  •   the proportion of services that we perform at our development centers or at our client sites;

 

  •   the effect of wage pressures, seasonal hiring patterns, attrition, and the time required to train and productively utilize new employees, particularly information technology, or IT, professionals;

 

  •   the size and timing of facilities expansion;

 

  •   expenditures in connection with the submission of proposals for larger, more complex client engagements;

 

  •   unanticipated cancellations, contract terminations or deferrals of projects;

 

  •   utilization of billable employees; and

 

  •   unanticipated variations in the duration, size and scope of our projects, as well as changes in the corporate decision-making process of our client base.

 

A significant part of our total operating expenses, particularly expenses related to personnel and facilities, are fixed in advance of any particular period. As a result, unanticipated variations in the number and timing of our projects or employee utilization rates, or the accuracy of our estimates of the resources required to complete ongoing projects, may cause significant variations in our operating results in any particular period.

 

There are also a number of factors, other than our performance, that are not within our control that could cause fluctuations in our operating results from period to period. These include:

 

  •   the duration of tax holidays or tax exemptions and the availability of other Government of India incentives;

 

  •   currency fluctuations, particularly when the rupee appreciates in value against the dollar, since the majority of our revenues are in dollars and a significant part of our costs are in rupees; and

 

  •   other general economic factors.

 

This excerpt taken from the INFY 6-K filed Jan 18, 2005.

Our revenues and expenses are difficult to predict and can vary significantly from quarter to quarter, which could cause our share price to decline.

 

Our revenues and profitability have grown rapidly in recent years and are likely to vary significantly in the future from period to period. Therefore, we believe that period-to-period comparisons of our results of operations are not necessarily meaningful and should not be relied upon as an indication of our future performance. It is possible that in the future some of our results of operations may be below the expectations of market analysts and our investors, which could cause the share price of our equity shares and our ADSs to decline significantly.

 

Factors which affect the fluctuation of our operating results include:

 

  • the size, timing and profitability of significant projects;

 

  • changes in our pricing policies or the pricing policies of our competitors;

 

  • the proportion of services that we perform at our development centers or at our client sites;

 

  • the effect of wage pressures, seasonal hiring patterns, attrition, and the time required to train and productively utilize new employees, particularly information technology, or IT, professionals;

 

  • the size and timing of facilities expansion;

 

  • expenditures in connection with the submission of proposals for larger, more complex client engagements;

 

  • unanticipated cancellations, contract terminations or deferrals of projects;

 

  • utilization of billable employees; and

 

  • unanticipated variations in the duration, size and scope of our projects, as well as changes in the corporate decision-making process of our client base.

 

A significant part of our total operating expenses, particularly expenses related to personnel and facilities, are fixed in advance of any particular period. As a result, unanticipated variations in the number and timing of our projects or employee utilization rates, or the accuracy of our estimates of the resources required to complete ongoing projects, may cause significant variations in our operating results in any particular period.

 

There are also a number of factors, other than our performance, that are not within our control that could cause fluctuations in our operating results from period to period. These include:

 

  • the duration of tax holidays or tax exemptions and the availability of other Government of India incentives;

 

  • currency fluctuations, particularly when the rupee appreciates in value against the dollar, since the majority of our revenues are in dollars and a significant part of our costs are in rupees; and

 

  • other general economic factors.

 

EXCERPTS ON THIS PAGE:

6-K
Jul 28, 2005
20-F
Apr 26, 2005
6-K
Feb 23, 2005
6-K
Jan 18, 2005

RELATED TOPICS for INFY:

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