Reference Checks

By Joshua Weinberger  |  Posted 2003-06-01 Print this article Print

Before establishing the software-development division in 1994, he was chairman of Dun & Bradstreet India and China.

Reference Checks

Ace Hardware
Jay Heubner
Dir., I.T. Application Development
(630) 990-8688
Project: Cognizant was the retail co-op's test case for the whole offshore business model, relying on the firm in 2000 to handle the software expansion of the bar-code system across hundreds of applications.

Philadelphia Stock Exchange
Melva Demmer
VP, Business Systems Devel.
(215) 496-5627
Project: Trading house first relied on Cognizant for converting systems to decimal-based pricing in 1999.

Royal & SunAlliance USA
Betty Higby
Business Services Executive, Personal Lines Division
(815) 599-3068
Project: After starting a Y2K project with another Indian firm, RSA turned to Cognizant when a new acquisition had to be made compliant in a hurry.

Schwan food company
Dave Deines Systems Devel. Manager
(507) 537-8452
Project: At the end of 1998, the frozen-food company chose Cognizant to handle its mainframe work for a Y2K upgrade.

United States Cold Storage
Timothy Brennan
Director, I.T.
(856) 354-8193
Project: In 1999, the refrigerated-warehousing and logistics company signed Cognizant to develop its wireless-network application and its Web site.

Farmers Insurance Group
James Fridenberg
VP, Policy Management Applications
(323) 930-6385
Project: Since 2002, the insurance giant has been using Cognizant to supplement its Wipro resources in application maintenance and testing, and sends much of its R&D projects there, as well.

Executives listed here are all customers of Cognizant Technology Solutions. Their willingness to talk has been confirmed by Baseline.

  2003FY 2002FY 2001FY
Revenue $74.5M $229M $178M
Gross margin 45.0% 46.4% 48.9%
Operating income $14.5M $45.2M $35.6M
Net income $10.2M $34.6M $22.2M
Net margin 13.6% 15.1% 12.5%
Earnings per share $0.15‡ $0.54 $0.36
R&D expenditure N/A N/A N/A
*Fiscal year enDS Dec. 31; YTD results reflects first three months
‡reflects 3-for-1 stock split distributed on april 1, 2003
Other Financials**
Total assets $242M
Stockholders' equity $180M
Cash & equivalents $127M
Long-term debt None
Shares outstanding 66M
Market value at 5/29 $1.3B
**As of March 31, except where noted
source: Company Reports

Assistant Editor
After being on staff at The New Yorker for five years, Josh later traveled the world, hitting all seven continents in a single year. At Yale University, he majored in American Studies, English, and Theatre Studies.


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