SYNTEL (SYNT) - Upcoming Year 2000 IPO Message Board

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Technology Stocks : SYNTEL (SYNT) - Upcoming Year 2000 IPO

SYNT 40.99

0.0%

Oct 10 5:00 PM EST

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To: gerald tseng who wrote (2720)	3/8/2000 8:17:00 AM
From: TraderTerry	Read Replies (1) of 2761

HI GT, I have added select quotes from the latest quarterly earnings release below. Mentioned are a new e-commerce subsidiary and also farming out applications and e-commerce business to the offshore (read India) facilities. They have also transitioned the offshore teams away from Y2k and into the new areas. The complete release is at: biz.yahoo.com ``We recently completed a strategic reassessment and developed plans to take full advantage of the market trends we foresee over the next three years. To take better advantage of the e-business market potential, we are in the process of establishing a new company as a subsidiary of CBSI that we expect will help us to attract the talent to more effectively compete in the e-business innovation market. We expect that this new subsidiary will support our clients from strategy to market and will have branding and creative skills capabilities. E-business implementation services will be provided by the existing CBSI organization using our traditional service approach in terms of scaling and execution of projects and will focus on linking front-end applications to back-office systems with high-quality speed to market.' ``We completed Y2K projects ahead of schedule and have successfully transitioned our offshore teams to respond to the huge demand for applications outsourcing and e-commerce business,' said Raj Vattikuti, president and chief executive officer. ``Operating margins before merger costs declined as a result of lower revenues from high-margin offshore services as well as greater investments in infrastructure and training for both our domestic and offshore operations,' said Tim Manney, executive vice president of finance and administration. ``We expect that this level of investment in training and infrastructure will decline in the second quarter of 2000. We expect to increase revenues from overseas as we position more outsourcing and e-commerce projects with our offshore teams. We anticipate our offshore utilization rates will return to historical levels early in the second quarter. We expect that both of these trends will have a very positive impact on future margins and earnings.' ``We intend to continue to position CBSI as a full-service solutions provider with strong project delivery capability,' advised Vattikuti. ``Many of our current clients are taking advantage of CBSI's scalability and our unique global delivery capability to satisfy their growing requirements in B2B and B2C e-commerce as well as for traditional mainframe support. We are seeing tremendous demand for our e-business and industry solutions services and now, selective outsourcing in Partnership Sourcing. In each of these areas, offshore content is involved.

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