NOIDA, India, July 29, 2010 /PRNewswire via COMTEX/ — HCL Technologies Ltd. (HCL), a leading global IT services provider, today announced results for the year and quarter ended June 30 2010. For the full year, HCL’s global revenues increased by 24.1% to $2.7 Billion. During the quarter, HCL posted strong growth with global revenues increasing by 21.5% YoY to $738 Million.
HCL’s US business posted a revenue increase of 24.4% YoY in FY10 and 11.3 % QoQ in the last quarter. The results demonstrate increasing market recognition of the value HCL delivers to its customers in the U.S. and validates HCL’s Go-To-Market (GTM) strategy in the geography, which encompasses an integrated horizontal, sector and geographic focus.
Commenting on the results, Dr. Shami Khorana, President, HCL Americas said, “With more than 18 offices in 15 states, the Americas have contributed $ 1.6 Billion which is about 60 percent of HCL Technologies’ total worldwide consulting and IT services revenues. We continue our long-standing commitment to the U.S. We have signed some significant deals in the areas of applications development, support, and infrastructure management with leading global organizations. We also completed our first successful year of operations in Brazil, which is an important ‘emerging market’ for HCL. We have also expanded our infrastructure footprint in this region by setting up a multilingual service desk facility to support global and local customers in Rio Grande do Sul.”
Additional HCL Americas Highlights for FY10:
HCL invested in a next-generation green data center in Parsippany, New Jersey, further expanding its U.S. delivery footprint and increasing investments in the U.S. The facility enables end-to-end data center services including near-shore co-location solutions, business continuity planning, and cloud computing and mainframe management services.
HCL continued to expand its strategic relationship with Boeing and will be creating critical software for the 787 Dreamliner launch and flight test. HCL Technologies is Boeing’s 787 software partner, developing subsystems for Boeing’s Tier-1 & Tier-2 partners. In addition, HCL reengineered the flight test system that is being used for certification and regulatory approvals for Boeing 787.
HCL celebrated five successful years of partnership with Merck, one of the world’s largest pharmaceutical companies. HCL is collaborating with Merck on leveraging technology for operational and business impact. A portion of the services delivery is to be managed from its Raleigh, North Carolina center.
HCL was included on the fourth annual WorldBlu List of Democratic Workplaces, sponsored by WorldBlu, a non-profit company specializing in organizational democracy.
CEO Vineet Nayar continued to articulate HCL’s innovative management philosophies through his new book titled, “Employees First, Customers Second,” which tells the story of how HCL turned conventional management thinking on its head to revitalize and transform performance in the age of Gen Y, social media, and increasing transparency between management and employees.
Q4 FY 2010 Financial Highlights for HCL Technologies - Revenue at US$ 738 Million; up 21.5% YoY and up 7.7% sequentially - Revenue on constant currency basis was up 9.1% sequentially - Net Income at US$ 74 Million; up 6.9% YoY - Net headcount additions of 6,428 were made taking total headcount to 64,557 Q4 FY 2010 Financial Highlights for US - US business posts revenue growth of 24.4% YoY in FY10 - US business posts 11.3% QoQ revenue growth in Q4 of FY10