Roger: Glad to note that you have some interest in India and Indian companies.
Infosys,has already filed the registration to offer ADRs here in the U.S on Feb.11,99.Look for some details below.
The others,I have no details yet.However a lot of Indian companies trade in London and Luxomberg as GDRs,none is listed in Canada.Not too long ago the heads of both NASDAQ and NYSE visited India to persuade the companies there to list their companies here in the U.S but none has taken up the offer so far with the exception of Infosys.Perhaps other will come but I don't know when.
ostman.com
Infosys Technologies Ltd.
Summary Consolidated Financial Data
(In thousands, except per Equity Share data)
Nine Months
Fiscal Year Ended March 31, Ended December 31,
-------------------------------------- -------------------
1994 1995 1996 1997 1998 1997 1998
------ ------- ------- ------- ------- --------- ---------
Statements of Income
Data (1):
Revenues................ $9,534 $18,105 $26,607 $39,586 $68,330 $ 48,412 $ 86,101
Cost of revenues........ 5,621 10,606 15,638 22,615 40,157 28,280 47,002
------ ------- ------- ------- ------- --------- ---------
Gross profit............ 3,913 7,499 10,969 16,971 28,173 20,132 39,099
Operating expenses:
Selling, general and
administrative
expenses............. 1,315 3,344 4,350 7,010 13,225 9,108 13,707
Amortization of
deferred stock
compensation expense
(2).................. -- 46 361 768 2,567 2,105 2,404
------ ------- ------- ------- ------- --------- ---------
Total operating ex-
penses.............. 1,315 3,390 4,711 7,778 15,792 11,213 16,111
------ ------- ------- ------- ------- --------- ---------
Operating income........ 2,598 4,109 6,258 9,193 12,381 8,919 22,988
Other income, net....... 322 747 1,460 769 801 606 1,212
------ ------- ------- ------- ------- --------- ---------
Income before income
taxes.................. 2,920 4,856 7,718 9,962 13,182 9,525 24,200
Provision for income
taxes (3).............. 250 893 894 1,320 770 977 3,532
Subsidiary preferred
stock dividends (4).... -- -- -- -- 68 34 151
------ ------- ------- ------- ------- --------- ---------
Net income.............. $2,670 $ 3,963 $ 6,824 $ 8,642 $12,344 $ 8,514 $ 20,517
====== ======= ======= ======= ======= ========= =========
Earnings per Equity
Share (5):
Basic................. $0.10 $0.14 $0.24 $0.30 $0.41 $0.29 $0.67
Diluted............... $0.10 $0.14 $0.23 $0.29 $0.41 $0.28 $0.67
Equity Shares used in
computing earnings per
Equity Share (5):
Basic................. 26,816 28,292 29,034 29,036 29,788 29,416 30,540
Diluted............... 26,816 28,376 29,284 29,704 30,404 30,260 30,625
Cash dividend per Equity
Share (6).............. $0.03 $0.04 $0.04 $0.04 $0.07 $0.02 $0.03
December 31, 1998
-----------------------
Actual As Adjusted (7)
------- ---------------
Balance Sheet Data (1):
Cash and cash equivalents............................... $22,798 $ 68,729
Total assets............................................ 76,582 122,513
Total long-term debt.................................... -- --
Total shareholders' equity.............................. 63,265 109,196
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