Reference Checks

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

Complete dossier on Wipro Technologies.

Reference Checks

Blackwell's Book Services
Cloy Swartzendruber
Acting VP, I.T.
(503) 684-1140 x1366
Project: Oregon-based book distributor turned to Wipro last year to help with a key data-modeling project that was already underway, and now has 10 Wipro staffers offshore to go with 3 on-site.

Dennis Goodman
Procurement Manager
(503) 813-5000
Project: Oregon utility company uses Wipro to maintain further enhancements of its customer-service system.

David L. Andre
(781) 707-8610
Project: Massachusetts-based savings network wanted to move some of its system-administration and development functions offshore. Now has 22 Wipro staffers in Bangalore, and one permanent on-site representative.

Hannu Kivilinna
Head of Partnering, Nokia Networks
Project: Started with Wipro back in 1997, developing software for the telecom manufacturer's network division.

Seiko Epson
Hideto Shimosato
General Manager
Project: The manufacturing company's Epson Software Development Laboratory subsidiary selected Wipro in 1996 for both onsite and offshore programming.

Farmers Insurance Group
James Fridenberg
VP, Policy Management Applications
(323) 930-6385
Project: As its first foray into offshore outsourcing, the insurer turned to Wipro in 2000 for a simple help-desk project, and has since ramped up the engagement.

Executives listed here are all customers of Wipro Technologies. Their willingness to talk has been confirmed by Baseline.

  2003FY 2002FY 2001FY
Revenue $902M $696M $662M
Gross margin 36.6% 38.6% 40.6%
Operating income $200M $170M $153M
Net income $170M $171M $138M
Net margin 18.9% 24.6% 20.8%
Earnings per share $0.74 $0.74 $0.60
R&D expenditure $5.5M #3.0M N/A
*Fiscal year ends March 31
Other Financials**
Total assets $900M
Stockholders' equity $745M
Cash & equivalents $297M
Long-term debt $0.2M
Debt/Equity ratio 0.0%
Shares outstanding 232M
Market value at 5/29 $4.5B
**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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