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Form 8-K COGNIZANT TECHNOLOGY For: Jan 12

January 12, 2016 6:21 AM EST



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549  

FORM 8-K  

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): January 12, 2016

Cognizant Technology Solutions Corporation
(Exact Name of Registrant as Specified in Charter)


 
 
 
 
 
Delaware
 
0-24429
 
13-3728359
(State or Other Jurisdiction
of Incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
 
 
Glenpointe Centre West
500 Frank W. Burr Blvd.
Teaneck, New Jersey
 
07666
(Address of Principal Executive Offices)
 
(Zip Code)
(201) 801-0233
(Registrant’s telephone number, including area code)
Not applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨



Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

¨



Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

¨



Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

¨



Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).






Item 7.01.
Regulation FD Disclosure.
On January 12, 2016, Cognizant Technology Solutions Corporation, a Delaware corporation (the “Company”), issued a press release to report the expected impact of the Chennai flooding on the Company’s financial results for the year ended December 31, 2015. The full text of the press release is attached to this current report on Form 8-K as Exhibit 99.1.*
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
 
Description
99.1
 
Press Release of Cognizant Technology Solutions Corporation, dated January 12, 2016.
*
The information in Item 7.01 and Exhibit 99.1 of this current report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.






SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
 
 
By:
/s/ Steven Schwartz
Name:
Steven Schwartz
Title:
Executive Vice President, Chief Legal and Corporate Affairs Officer
 
Date: January 12, 2016






INDEX TO EXHIBITS
Exhibit
No.
 
Description
99.1
 
Press Release of Cognizant Technology Solutions Corporation, dated January 12, 2016.






Exhibit 99.1
 
 
 
 
 
Glenpointe Centre West
 
 
 
 
500 Frank W. Burr Blvd.
 
 
 
 
Teaneck, NJ 07666




FOR IMMEDIATE RELEASE            



COGNIZANT PROVIDES UPDATE ON IMPACT OF CHENNAI FLOODING

Reaffirms revenue and non-GAAP EPS guidance for Full-Year 2015

TEANECK, N.J., January 12, 2016-Cognizant Technology Solutions Corporation (NASDAQ: CTSH) today provided a business update reflecting the impact of the flooding that occurred in Chennai, India during its fourth quarter of 2015, where Cognizant has 11 delivery and operations centers.

In December, Chennai experienced heavy rains that caused unprecedented flooding. During this period, the company’s key priorities were ensuring the safety of its employees and their families, and maintaining continuity of critical operations for clients. Cognizant is pleased to report that all its employees are safe and accounted for and that its comprehensive Business Continuity Plan enabled continuity of critical work for its clients.

Due to the successful execution of its Business Continuity Plan, which largely mitigated the financial impact of the flooding, Cognizant has reaffirmed that it expects to achieve both its previously announced full-year revenue guidance of at least $12.41 billion and its non-GAAP diluted EPS guidance of at least $3.03.

“Cognizant extends its gratitude to its employees, business partners, government agencies, and others involved in recovery efforts that helped in quickly bringing our business operations back to normal,” said Gordon Coburn, President of Cognizant. “We are also grateful to our clients for their understanding of the circumstances, and their support of our Business Continuity Plan actions taken during the flood to successfully ensure continued delivery of services.”

About Cognizant
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world’s leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 100 development and delivery centers worldwide and approximately 219,300 employees as of September 30, 2015, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.






Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the current and future impact of the floods in Chennai, including with respect to our anticipated financial performance, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate, such as the risk that, because our financial statements for the year ended December 31, 2015 have not yet been finalized or audited, the preliminary expectation regarding our anticipated financial performance for the year ended December 31, 2015 in this press release is subject to change, and our actual financial performance during this period may differ materially from this preliminary estimate. Additional factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

Contact: David Nelson
VP, Investor Relations & Treasurer
201-498-8840






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