Segment Reporting

3 Months Ended

Mar. 31, 2012

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 months ended March 31, 2012 and 2011 is as follows:

	Three Months Ended March 31,
	2012		2011
	(in thousands)
Revenues:
Applications Outsourcing	$	127,288	$	106,735
KPO		26,420		23,543
e-Business		13,529		12,694
TeamSourcing		3,507		2,400
		170,744		145,372
Gross Profit:
Applications Outsourcing		48,046		32,382
KPO		16,715		12,940
e-Business		5,260		4,594
TeamSourcing		1,431		896
		71,452		50,812
Selling, general and administrative expenses		26,946		24,623
Income from operations	$	44,506	$	26,189

During the three months ended March 31, 2012, 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 $45.4 million and $28.9 million, respectively, during the three months ended March 31, 2012, contributing approximately 26.6% and 16.9%, respectively of total consolidated revenues. The entire revenue from American Express Corp. was generated in the Application Outsourcing segment. Approximately 74% of the revenue from State Street Bank was generated in the KPO segment and 26% was generated in the Application Outsourcing segment. The corresponding revenue for the three months ended March 31, 2011 from American Express Corp. and State Street Bank was $36.9 million and $25.9 million, respectively, contributing approximately 25.4% and 17.8%, respectively, of total consolidated revenues. The entire revenue from American Express Corp. was generated in the Application Outsourcing segment. Approximately 76% of the revenue from State Street Bank was generated in the KPO segment and 24% in the Application Outsourcing segment. At March 31, 2012 and December 31, 2011, accounts receivable from American Express Corp. were $17.5 million and $19.1 million, respectively. Accounts receivable from State Street Bank were $14.4 million and $13.7 million, respectively, as at March 31, 2012 and December 31, 2011