Patni Computer Systems announced its financial results for the fourth quarter and year ended 31st December 2007.Highlights for the quarter and year ended December 31st 2007 -

• Revenues for the quarter at US$ 174.1 million (Rs. 6,861.9 million) ;
• Operating Income for the quarter at US$ 27.1 million (Rs. 1,066.3 million)
• Net Income for the quarter at US$ 25.3 million (Rs 997.2 million)
• EPS for the quarter at US$ 0.18 per share; US$ 0.36 per ADS
• EPS for the year US$ 0.82per share (US$ 1.64 per ADS) as compared to US $ 0.43 per share ( $0.86 per ADS ) for 2006 and $ 0. 57 ( $1.15 per ADS) excluding additional provisions
• Stock based expense for the quarter was US$ 1.3 million for the quarter in line with the previous quarter For the full year stock based expense was US$ 4.7 million as compared to US$4.0 million in 2006

The Board of Directors have (a) recommended an annual dividend of 150% , (b) approved a Share buy back programme in open market purchases on the Indian Stock. Exchanges prices upto Rs 325 per share for a total purchase upto USD 60 million and (c) recommended repricing of outstanding Employee Stock Options at Current market price.

Future Outlook: Q1 2008 revenues are expected to be at US$175 to US$176 million and net income (excluding the foreign exchange gain/loss) is expected to be in the range of US$ 15.5 to 16.0 million taking the operations at a constant dollar value of Rs 39.40 per US$.

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