Intelligroup Inc., a consulting, business optimization, and outsourcing firm serving global corporations, today reported results for its fourth quarter and year ended December 31, 2007.

Fourth Quarter Highlights

– Revenue growth: Revenue grew marginally quarter over quarter and 19.6% year over year.

– Gross Margin: Gross margin improved 1.7 percentage points quarter over quarter and 7.5 percentage points year over year.

– Operating Margin: Operating margin improved by 2.7 percentage points quarter over quarter and 16.4 percentage points year over year.

– Utilization rates: Utilization rates improved slightly to 69% in the fourth quarter of 2007 from 68% in the fourth quarter of 2006 but decreased slightly sequentially from 70% for the third quarter of 2007.

– New Customers: 40 new customers were added globally in the fourth quarter of 2007.

Fourth Quarter Performance

The Company reported fourth quarter 2007 revenues of $38.3 million, which marks a slight increase from $38.0 million in the third quarter of 2007 and a 19.6% increase from $32.0 million in the fourth quarter of 2006. The Company’s average onsite bill rates increased by 2% in the fourth quarter of 2007 as compared with the third quarter of 2007 and the fourth quarter of 2006, while the Company’s average offshore rates were relatively flat in the fourth quarter of 2007 as compared with the third quarter of 2007 and the fourth quarter of 2006. The Company’s gross margin increased to 30.8% for the fourth quarter of 2007 as compared with 29.1% in the third quarter of 2007. Due to its focus on effective cost management strategies, the Company’s gross margin improved substantially from 23.3% in the fourth quarter of 2006 to 30.8% for the fourth quarter of 2007. The Company reported operating income from continuing operations of $3.1 million, which marks a 49% increase from $2.1 million in the third quarter of 2007 and 219% increase from an operating loss of $2.6 million in the fourth quarter of 2006.

Full year performance:

The Company reported revenue of $145.1 million for the fiscal year 2007 which is a 15.8% increase from revenue of $125.3 million for the fiscal year 2006. The Company reported gross margin of 27.4% for fiscal 2007 which is relatively flat as compared with 27.3% for fiscal year 2006. The Company’s operating performance improved by $6.5 million from an operating loss of $3.3 million in fiscal year 2006 to operating income of $3.2 million in fiscal 2007.

Sourced From: 20 : 20 Media Pvt Ltd

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