centsshare Analysts expected 96 million or 44 centsshare Revenues were

Centsshare analysts expected 96 million or 44

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TATA SET TO ANNOUNCE 21% HIKE IN REVENUESIndia’s Tata Consultancy Services is expectedto announce a 21% increase in revenues for itsfiscal year, which ended March 30. As the ITservices arm of Tata Sons closes its books,company officials told us that revenues will bein the neighborhood of $825 million, comparedwith $650 million in the previous fiscal year. TCS expects to generate a profit of $255 millionin the most recent year. Revenue and profit esti-mates do not include the sales of ComputerMaintenance Corp., which TCS bought from theIndian government earlier this year. To staff its new engagements, TCS has hired2,500 employees, bringing its total headcountto about 21,500. The previous year TCS hired2,700 people. TCS didn’t need to recruit asmany professionals this year because staffturnover fell to 4%, down considerably from apeak of 16% in 1998 and 1999. IDC EXPECTS BIG GROWTH FROM ASIA-PACIFICInternational Data Corp. expects the marketfor IT consulting in the Asia-Pacific region togrow from $634 million in 2001 to $2 billionby 2005. The research and consulting compa-ny says the market will grow at a rate of 29%per year until 2005, which will make it thefastest growing market for IT consulting serv-ices in the world. IDC says that the globaleconomic slowdown has led to companiesaround the world requiring “rapid, high impactand incisive intelligence to retain competitive-ness in a tough market environment.” CALIFORNIA SCANDAL COULD EXPANDAn IT scandal unfolding in California’s stategovernment should be watched carefully. Thedirector of the state’s Department ofInformation Technology, Elias Cortez, resignedin May over the acquisition of Oracle Corp.software. The transaction is being portrayed inthe press as a potential waste of $42 million.
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