Signaling an improved business climate and a stabilizing pricing environment, systems integration and consulting services provider Infosys Technologies Ltd. today said its revenue and earnings declined only slightly in the three-month period ended Sept. 30.
The company reported second-quarter revenue of $1.2 billion, down 5.1% compared with the same period a year ago. Infosys’ net earnings, meanwhile, fell less than 1% to $317 million.
Despite the slippage, company officials said they are seeing market improvements, with some customers resuming spending on IT projects. Infosys officials, however, stopped short of declaring that a sustainable recovery is under way.
“We are seeing some stability in the environment, but it doesn’t mean clients are opening up their purses,” said Infosys CEO S. Gapalakrishnan in statements to financial analysts. “They are very cautious about the environment. They are very tentative. They are not very clear about how the environment is going to move next year.”