Syntel beats Street 4Q forecasts

Syntel tops 4Q profit and revenue expectations

TROY, Mich. (AP) _ Syntel Inc. (SYNT) on Thursday reported fourth-quarter earnings of $48 million.

On a per-share basis, the Troy, Michigan-based company said it had net income of 57 cents.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The information technology outsourcing company posted revenue of $237.9 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $237 million.

For the year, the company reported a loss of $57.4 million, or 68 cents per share, swinging to a loss in the period. Revenue was reported as $966.6 million.

Syntel expects full-year earnings to be $1.75 to $2 per share, with revenue in the range of $900 million to $945 million.

Syntel shares have climbed 18 percent since the beginning of the year. The stock has decreased 48 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SYNT at https://www.zacks.com/ap/SYNT

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Keywords: Syntel, Earnings Report

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