BPO Giant Genpact Turns Around Results

Business process outsourcing leader Genpact (NYSE: G) announced net income in the first quarter of $19.7 million, a dramatic contrast to the $14.7 million loss in the same period a year ago.

Earnings per common share were $0.09, compared with a loss of $0.22 per share in the first quarter of 2007. Revenues reached $234.4 million, up 33 percent.

Genpact was divested by General Electric in 2007, but GE remains a major client with revenues derived from the industrial giant growing 1 percent over the first quarter of 2007.

Genpact also announced it had signed deals with a global insurance provider, a life sciences manufacturing company, a Chinese financial institution, and a North American automobile manufacturer. Genpact’s BPO activities accounted for 78 percent of revenues while work in information technology accounted for the rest.