Cognizant staff celebrate co's $1-bn revenue with iPods
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[March 20, 2006]

Cognizant staff celebrate co's $1-bn revenue with iPods

(Ecomonic Times, The (India) (KRT) Via Thomson Dialog NewsEdge) Mar. 18--CHENNAI, India -- Cognizant Technology Solution's annualised revenue run rate of $1bn, during the quarter ended December 31, '05, was music to its employees' ears. All employees on the rolls of the IT company as on June 30, '05, got a fifth-generation 30GB Apple iPod each.



Cognizant posted revenues of $256.9m during the fourth quarter last year, taking the annualised revenue run rate beyond the $1bn-mark. "Our practice of rewarding and thanking employees for every single milestone is part of our cultural milieu that motivates us and ensures greater team bonding," R Chandrasekaran, executive VP & MD, Cognizant, said.

The iPods, which the Cognizant associates received on Wednesday, are capable of packing in close to 75 hours of video, 7,500 songs and 12,500 photos. This should let techies put their music in their pockets and still have room for reading with audiobooks, browsing photo slideshows, watching podcasts and TV shows, looking up an email address and they can even check the time in another city or time their fastest lap.



The market price of a 30GB video iPod is $299 or about Rs 14,000, according to Apple's online store. However, observers say, the company would have spent Rs 3,000-4,000 additionally on import duties and fringe benefit tax, which means an investment of Rs 30-32 crore on this initiative.

"We chose iPod for a couple of reasons," a Cognizant official said. "One billion dollar revenue run rate is a significant milestone, and the gift had to be something different. Also, it had to be techie -- something that young IT pros would love to have," he said.

Eventually, Cognizant hopes to use iPods as a communication tool, using it as a platform for internal communication. The iPods have been customised for Cognizant, with the company logo engraved on the back, the official said. Cognizant has over 25,000 employees on its rolls presently, absorbing over 7,000 people after June 30, 2005.

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