Syntel Q3 Profit Beats Estimates; Lifts FY14 Earnings Outlook - Quick Facts

(RTTNews) - Syntel Inc. (SYNT), an IT services provider, Thursday, reported net income for the third-quarter of $61.6 million or $1.47 per share, up from $59.4 million or $1.42 per share in the prior-year period. On average, 13 analysts polled by Thomson Reuters expected earnings per share of $1.39 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly revenue rose 9 percent to $228.33 million from $209.87 million in the prior-year period, while 13 analysts estimated revenues of $236.95 million.

Further, the company raised its fiscal 2014 earnings to a range of $5.60 to $5.70 per share from its prior range of $5.50 to $5.65 per share. Analysts now expect earnings of $5.62 per share.

The company lowered its full-year revenue guidance to a range of $908 million - $915 million from its previous expectation of $920 million to $940 million. Analysts expect the company to report revenue of $932.04 million.