WESTPORT, Conn. April 17 /PRNewswire/ -- Cognizant Corporation (NYSE: CZT)
today reaffirmed that it expects to achieve earnings per share growth in
excess of 20 percent in the quarter ended Mar. 31, 1998, and remains on target
for the 1998 fiscal year. Yesterday's announcement by Gartner Group Inc.
(Nasdaq: GART) of quarterly earnings and full-year expectations does not
impact Cognizant or IMS HEALTH's quarterly or full-year 1998 outlook.
Cognizant Corporation owns approximately 47 percent interest in Gartner Group.
"We remain comfortable with the estimates of Cognizant's EPS growth
exceeding 20 percent for the 1998 first half, based on the strong performance
of IMS," said Victoria R. Fash, Cognizant executive vice president and chief
financial officer.
"On a full-year pro forma with the Gartner Group equity investment as part
of IMS HEALTH, we continue to forecast IMS HEALTH EPS growth in the
21-to-24 percent range."
Cognizant Corporation integrates information and technology to create
business insight. Its principal operating units are IMS, which offers global
information solutions to the pharmaceutical and healthcare industries, and
Nielsen Media Research, the leader in audience measurement for electronic
media. Cognizant also is the largest shareholder of Gartner Group, the
premier provider of research and advisory services to the information
technology industry.
On Jan. 15, 1998, Cognizant announced plans to become two independent
public companies by mid-1998: IMS HEALTH and Nielsen Media Research.
Additional information is available at Cognizant's web site:
http://www.cognizantcorp.com.
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. Although Cognizant believes the
expectations contained in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove correct. This
information may involve risks and uncertainties that could cause actual
results of Cognizant to differ materially from the forward-looking statements.
Factors which could cause or contribute to such differences include, but are
not limited to (i) the risks associated with operating on a global basis,
including fluctuations in the value of foreign currencies relative to the U.S.
dollar, and the ability to successfully hedge such risks, (ii) the extent in
which Cognizant seeks growth through acquisitions, and the ability to identify
and consummate acquisitions on satisfactory terms, (iii) the ability to
develop new or advanced technologies and systems for their businesses on a
cost-effective basis, (iv) competition in the market for audience measurement
services, (v) regulatory and legislative initiatives, particularly in the area
of medical privacy, and (vi) deterioration in economic conditions,
particularly in the pharmaceutical, healthcare, media, information technology
or other industries in which Cognizant's customers operate.
SOURCE Cognizant Corporation
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CONTACT:
Joseph C. Allen of Cognizant, 203-222-4235
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