SYNT - Syntel, Inc.

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Syntel, Inc. provides digital transformation, information technology (IT), and knowledge process outsourcing (KPO) services worldwide. The company operates through Banking and Financial Services; Healthcare and Life Sciences; Insurance; Manufacturing; and Retail, Logistics and Telecom segments. It offers managed services, including software applications development, maintenance, and digital modernization testing, as well as IT infrastructure, cloud, and migration services. The company also provides a range of consulting and implementation services built around enterprise architecture; data warehousing and business intelligence; enterprise application integration; and SMAC technologies, including social media, Web and mobile applications, big data, analytics, and Internet of things. In addition, it offers KPO services that provide outsourced solutions for knowledge and business processes; and business intelligence, enterprise resource planning, and business and technology consulting services. The company offers its products to various companies in the banking and financial services, healthcare and life sciences, insurance, manufacturing, retail, logistics and telecom, and other industries. Syntel, Inc. was founded in 1980 and is headquartered in Troy, Michigan.

 

Syntel reports 3Q loss
TROY, Mich. (AP) _ Syntel Inc. (SYNT) on Thursday reported a third-quarter loss of $217.2 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Troy, Michigan-based company said it had a loss of $2.58.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $2.59 per share.

The information technology outsourcing company posted revenue of $241.3 million in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $250.8 million.

Syntel expects a full-year loss of 75 cents to 65 cents per share, with revenue in the range of $960 million to $970 million.

Syntel shares have fallen 42 percent since the beginning of the year. The stock has declined 43 percent in the last 12 months.