VanceInfo Technologies Updates Third Quarter Outlook and Schedules Third Quarter Earnings Release on November 17, 2008
October 16 2008 - 2:48AM
PR Newswire (US)
BEIJING, Oct. 16 /Xinhua-PRNewswire-FirstCall/ -- VanceInfo
Technologies Inc. ("VanceInfo" or the "Company") (NYSE:VIT), an IT
service provider and one of the leading offshore software
development companies in China, today raised its revenue guidance
for the third quarter to US$27-27.5 million from US$25-26 million,
issued on August 14. "I am pleased to see continued solid demand
from our current and prospective clients despite the turbulence of
the economic environment worldwide," commented Chris Chen, Chairman
and Chief Executive Officer of VanceInfo, "We hope the unique
supply and demand dynamics in the China-based IT outsourcing
sector, coupled with our enhanced capabilities, will continue to
prove the resilience of our business in an otherwise challenging
global environment." The Company also announced that it will
release unaudited financial results for the third quarter ended
September 30, 2008, before the U.S. market opens on Monday,
November 17, 2008. Following the release, VanceInfo management will
conduct a conference call at 8:00 a.m. Eastern Standard Time (EST)
on Monday, November 17, 2008 (9:00 p.m. Beijing/Hong Kong time) to
discuss operating performance for the quarter. Please dial-in five
to ten minutes prior to the call to register and receive further
instruction. The dial-in details for the live conference call are
as follows: -- U.S. Toll Free Number: +1 800-322-5044 --
International Dial-in Number: +1 617-614-4927 -- Hong Kong Dial-in
Number: +852 3002-1672 Passcode: VanceInfo The conference call will
be available live via webcast on the Investors section of
VanceInfo's website at http://ir.vanceinfo.com/ . The archive
replay will be available on VanceInfo's website shortly after the
call. A dial-in replay of the conference call will be available
until 9:00 a.m. EST, November 24, 2008 at: -- U.S. Toll Free
Number: +1-888-286-8010 -- International Dial-in Number:
+1-617-801-6888 Passcode: 82490092 About VanceInfo VanceInfo
Technologies Inc. is an IT service provider and one of the leading
offshore software development companies in China. VanceInfo was the
first China software development outsourcer listed on the New York
Stock Exchange. The Company ranked number one among Chinese
offshore software development service providers for the North
American and European markets as measured by 2007 revenues,
according to International Data Corporation. VanceInfo's
comprehensive range of IT services includes research and
development services, enterprise solutions, application development
and maintenance, quality assurance and testing, as well as
globalization and localization. VanceInfo provides these services
primarily to corporations headquartered in the United States,
Europe, Japan and China, targeting high growth industries such as
technology, telecommunications, financial services, manufacturing,
retail and distribution. Safe Harbor This news release includes
statements that may constitute forward-looking statements made
pursuant to the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as will, should,
expects, anticipates, future, intends, plans, believes, estimates,
and similar statements. Among other things, the management's
quotations and "Outlook for the Third Quarter and Full Year 2008"
contain forward-looking statements. Such statements are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected. Potential risks and uncertainties
include, but are not limited to, the company's dependence on a
limited number of clients for a significant portion of its
revenues, the overall economic growth in its principal geographic
markets, the quality and portfolio of its services lines and
industry expertise, and the availability of a large talent pool in
China and supply of qualified professionals, as well as the PRC
government's investment in infrastructure construction and adoption
of various incentives in the IT service industry. Further
information regarding these and other risks is included in
VanceInfo's filings with the U.S. Securities and Exchange
Commission, including its registration statement on Form F-1. All
information provided in this news release is as of October 16,
2008, and VanceInfo does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law. For
more information, please contact: Melissa Ning Director, Investor
Relations VanceInfo Technologies Inc. Tel: +86-10-8282-5330 Email:
DATASOURCE: VanceInfo Technologies Inc. CONTACT: Melissa Ning,
Director, Investor Relations, VanceInfo Technologies Inc.,
+86-10-8282-5330, or Web site: http://ir.vanceinfo.com/
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