Sapient Q4 net income surge to $70 mn

Software firm Sapient today reported nearly three-fold growth in net income at $70.09 million for the three months period ending December 31, 2009.

In the year-ago period, the company had a net income of $25.71 million, Sapient said in a statement here.

Total revenue rose to $183.5 million in the October to January period of 2009 from $164.7 million in the same quarter last fiscal.

The company expects to post first-quarter revenue in the range of $177 million to $181 million.

"As we look to 2010, we believe we are well positioned to grow our business and improve our operating performance as we help our clients succeed," Sapient President and Chief Executive Officer Alan J Herrick said.

Sapient also announced a special dividend of 35 cents per share. The dividend would be payable on March 15 to shareholders of record as of March 1.

For the full year, Sapient's net income rose to $88.1 million from $62.5 million in 2008. Revenue slipped to $638.9 million in 2009 from $662.4 million year-earlier.