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Quarterly Earnings Highlights from Sapient Corporation ( NASDAQ: SAPE ):
* Q1 EPS $0.12 vs est. $0.07
* Q1 rev $249.9 mln vs est. $231 mln
* Sees Q2 services rev $249-$257 mln
* Shares up more than 9% in premarket trade
May 5 (Reuters) - Sapient Corp posted better-than-expected quarterly results,
and the business and technology consulting company forecast strong services revenue for the second quarter.
and the business and technology consulting company forecast strong services revenue for the second quarter.
The company, which competes with Accenture Plc among others, expects second-quarter service revenue of $249-$257 million. Service revenue accounted for 96.6 percent of total sales in the first quarter.
Analysts, on average, were expecting total second-quarter sales of $245.2 million, according to Thomson Reuters I/B/E/S.
The company caters to the government and also to the financial and commodity markets through its three business units.
Sapient reported earnings of $12.2 million or 9 cents a share,
compared with $6.2 million or 5 cents a share, last year.
compared with $6.2 million or 5 cents a share, last year.
Exluding items, earnings came in at 12 cents a share, higher than analysts' estimates of 7 cents a share.
Revenue rose 30.3 percent to $249.9 million, beating estimates of $231 million. Services revenue increased 31.7 percent to $241.3 million during the quarter.
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