iGATE Corp. Q2 2009 Earnings Call Transcript

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2009-07-22 11:45:41.0

Tags: General Electric Co., Call Transcript, Earnings, Operational Accounting, Sales Strategy, Finance, Sales, Seeking Alpha, iGATE

Question-and-Answer Session

Operator

(Operator Instructions). Our first question comes from Brian Kinstlinger with Sidoti & Company. Please state your question.

Brian Kinstlinger - Sidoti & Company

The first question I have when I take a look at your (inaudible), it looks like GE accounted for most of the increase and I am wondering a couple things. First of all, is that because they returned to higher volumes and maintenance, is it because maybe they gave some of the (inaudible) business away. And then give us a sense generally for the rest of your client base, since GE accounted for that most of that increase, what’s going on with the rest of the client base.

Phaneesh Murthy

Brian, a quick correction, GE didn’t actually account for most of the increase point number one, and point number two, I’ll just give you an environment around GE. I think you know from what we are hearing, I think there’s a very positive climate of opinion inside GE about iGate. We have an extremely high CSAT, Customer Satisfaction rating. We also have a very high NPS score, what’s called the Net Promoter Score. And therefore, we actually continue to hope to increase our revenue base within GE over the next two or three years.

The second interesting fact that we are hearing is that a lot of the operations work of GE, which hither to was done only by one company is now going to get start getting bid out by the end of the year. And therefore, we anticipate that as part of that bidding process, we will bid and maybe pick up some pieces of the operations work. This is what we are hearing. So, I would say that over the next three years, we anticipate a growth in GE revenues. But just to clarify all of the growth did not come from the GE side.

It came from a few customers.

Brian Kinstlinger - Sidoti & Company

Not all of that. But I mean you increased sequentially two million and if I just use your top client as a percentage of sales. It looks like about 1.5 million of increase came from GE.

Phaneesh Murthy

Actually, the top clients have changed.

Brian Kinstlinger - Sidoti & Company

And what quarter was that?

Phaneesh Murthy

Just this quarter, last quarter the top clients changed.

Phaneesh Murthy

Last quarter our top clients have changed.

Brian Kinstlinger - Sidoti & Company

 

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