| TEANECK,
N.J., May 23, 2000 - Cognizant Technology
Solutions (Nasdaq: CTSH), a leading
provider of e-business solutions, is
the highest ranking IT consulting organization
in Business Week magazine's new list
of the 100 hottest growth companies.
With an overall ranking of 18, Cognizant's
average annual sales increase, over
the past three years, of 99 percent,
along with its corresponding 182 percent
increase in profits were enough to outrank
its nearest competitor by 20 places.
Cognizant was also recently named the
best small company in America by Forbes
magazine.
"Cognizant is leading traditional companies,
as well as well-funded dot.coms, onto
the Internet, by putting e-business
into everyday business," said Kumar
Mahadeva, Cognizant's Chairman and CEO.
"To be included in the Business Week
ranking, a company had to show superior
results in sales growth, earnings growth
and the return on invested capital.
In the fourth quarter of 1999, Cognizant's
revenue increased 24 percent with the
addition of many new customers and high
demand from our existing customers for
application management and e-business
services. The challenge of building
and managing e-business applications
is growing exponentially and Cognizant
is addressing that challenge better
than anyone else."
Cognizant's onsite/offshore model offers
many unique benefits. The Company does
not suffer from the same resource shortages
that are constraining the growth of
e-business in the US and Europe. The
model is well suited for helping companies
build and manage second generation e-businesses
that leverage systems that can fully
integrate customers, partners, employees
and other stakeholders.
About Cognizant Technology Solutions
Cognizant delivers high-quality, cost-effective,
full life-cycle solutions to complex
software development and management
problems. Cognizant employs more than
2,000 computer science and engineering
professionals globally and at its eight
development centers in India. The company
specializes in e-business and application
management. Cognizant has been assessed
at SEI/CMM Level 4 and is ISO 9001 certified
across all of its development centers.
Based on sustained revenue and earnings
growth, Forbes magazine named Cognizant
the best small company in its listing
of the "200 Best Small Companies." For
more information, visit Cognizant on
the web at http://www.cognizant.com.
For Information Contact:
Larry Gordon,
Cognizant Technology Solutions
(201) 678 2743
lgordon@cognizant.com |