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What: Shares of IT consulting company VanceInfo Technologies
So what: Revenue came in on top of expectations at $87.2 million, while the bottom-line profit was on target at $0.20 per share. Guidance was the real culprit, and while next quarter's revenue forecast of at least $80 million was fine and dandy, the bottom-line projection of $0.14 to $0.15 per share fell short.
Now what: CEO Chris Chen added, "While 2011 has been a challenging year for our industry, we hope 2012 is a year of stabilization with continued revenue growth and gradual margin recovery." R&D outsourcing services continues to be the bulk of revenue, but the company is also investing heavily in financial services. VanceInfo also recently acquired Beijing Sunwin, which provides consulting services to the Chinese airline industry.
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