Intelligroup revenues up 10 pc

NEW DELHI, INDIA: Intelligroup, a consulting, business optimization and outsourcing firm serving global corporations, has reported results for its second quarter and six-month period ended June 30, 2007.

The company reported second quarter 2007 revenues of $36.0 million, up 10 percent increase from $32.7 million in the first quarter of 2007 and a 14 per cent increase from $31.6 million in the second quarter of 2006.

The company's average bill rates were relatively flat in the second quarter of 2007 as compared with the first quarter of 2007 and the second quarter of 2006.

The firm reported gross margin of 28.9 per cent for the second quarter of 2007, which marks a decrease from 30.1 percent for the second quarter of 2006 but an increase from 19.8 per cent for the first quarter of 2007.

The operating income from continuing operations of $984,000 marked an improvement in operating performance of $4.0 million from an operating loss of $3.0 million in the first quarter of 2007 and an improvement of $391,000 from operating income of $593,000 in the second quarter of 2006, the company said in a statement.

The company added 27 new customers globally in the second quarter of 2007.