Through The Fly's Eyes: Infosys Technologies

from contributing editor Jay Somaney at GlobalTechStocks.com






Notes from Infosys's Conference Call

Infosys Technologies' (INFY) call was cut short a few minutes ago. Here are some notable points:

• The company plans to hire 25,000 employees in this fiscal year.

Business must be terrible, no? LOL.

• Billable headcount remained unchanged on a sequential QOQ basis at 26.5% onsite and 73.5% offshore.
• Attrition for the last twelve months came in at 13.7% but management indicated that the rate was slowing down.
• Management also indicated that they fully expect the rupee to depreciate against the dollar as we move through the year.
• Demand from the US remains strong and is actually picking up steam completely in contrast to the squealings we were hearing ahead of the report.
• Offshore pricing was up 4.4% YOY.
• Onsite pricing was also up 6.3% YOY.

Not shabby at all.

• Dollar denominated revenue guidance for FY08 is up 30% compared to the 26% expected by the squealers.
• Dollar denominated earnings guidance is also up 28%.
• Management sees no signs of a slowdown in BFSI which was an area of concern due to sub-prime issues.
• Margins will be maintained in FY2008 even if rupee keeps appreciating, which it will not.

The lemmings are still selling the stock though after a good open. Big mistake.

You heard it here first.