Segment Reporting

9 Months Ended

Sep. 30, 2011

Segment Reporting [Abstract]

Segment Reporting

10. SEGMENT REPORTING

The Company is organized geographically and by business segment. For management purposes, the Company is primarily organized on a worldwide basis into four business segments:

• Applications Outsourcing

• Knowledge Process Outsourcing ("KPO")

• e-Business and

• TeamSourcing

These segments are the basis on which the Company reports its primary segment information to management. Management allocates all corporate expenses among the segments. No balance sheet/identifiable assets data is presented since the Company does not segregate its assets by segment. Financial data for each segment for the three and nine months ended September 30, 2011 and 2010 is as follows:

	Three Months Ended September 30,				Nine months Ended September 30,
	2011		2010		2011		2010
	(in thousands)				(in thousands)
Revenues:
Applications Outsourcing	$	126,233	$	106,349	$	349,902	$	292,382
KPO		24,271		20,957		72,304		58,797
e-Business		13,498		10,384		38,677		26,812
TeamSourcing		3,625		2,855		9,101		9,242
		167,627		140,545		469,984		387,233
Gross Profit:
Applications Outsourcing		45,764		38,143		115,574		102,996
KPO		14,155		13,023		40,927		38,040
e-Business		5,444		3,420		14,342		10,668
TeamSourcing		1,371		1,078		3,488		4,765
		66,734		55,664		174,331		156,469
Selling, general and administrative expenses		36,679		24,924		89,083		66,286
Income from operations	$	30,055	$	30,740	$	85,248	$	90,183

During the three and nine months ended September 30, 2011, American Express Corp. and State Street Bank each contributed revenues in excess of 10% of total consolidated revenues. Revenue from American Express Corp. and State Street Bank was $44.8 million and $27.9 million, respectively, during the three months ended September 30, 2011, contributing approximately 26.7% and 16.6%, respectively of total consolidated revenues. The entire revenue from American Express Corp. was generated in the Application Outsourcing segment. Approximately 73% of the revenue from State Street Bank was generated in the KPO segment and 27% in the Application Outsourcing segment. The corresponding revenue for the three months ended September 30, 2010 from American

Express Corp. and State Street Bank was $34.5 million and $22.8 million, respectively, contributing approximately 24.5% and 16.2%, respectively, of total consolidated revenues. The entire revenue from American Express Corp. was generated in the Application Outsourcing segment. Approximately 78% of the revenue from State Street Bank was generated in the KPO segment, 21% in the Application Outsourcing segment and one percent in e-Business. During the nine months ended September 30, 2011, revenue from American Express Corp. and State Street Bank was $123.7 million and $80.7 million, respectively, contributing approximately 26.3% and 17.2%, respectively, of total consolidated revenues. During the nine months ended September 30, 2010, revenue from State Street Bank and American Express Corp. was $90.3 million and $64.9 million, respectively, contributing approximately 23.3% and 16.8%, respectively, of total consolidated revenues. At September 30, 2011 and December 31, 2010, accounts receivable from American Express Corp. were $17.8 million and $15.6 million, respectively. Accounts receivable from State Street Bank were $10.0 million and $11.7 million, respectively, as at September 30, 2011 and December 31, 2010.