PITTSBURGH, May 2 /PRNewswire-FirstCall/ -- On May 2, 2005, iGATE
Corporation (Nasdaq: IGTEE) filed with the Securities and Exchange Commission
(the "Commission") Amendment No. 1 to its Annual Report on Form 10-K for the
period ended December 31, 2004 (the "Amended Annual Report"). The Amended
Annual Report contains "Management's Report on Internal Control Over Financial
Reporting" and the Company's independent registered public accounting firm's
audit opinion on management's assessment of the effectiveness of the Company's
internal control over financial reporting and their audit opinion on the
effectiveness of the Company's internal control over financial reporting. The
Company's financial results, as previously reported in its 2004 Annual Report
on Form 10-K filed with the Commission on April 7, 2005, have not been revised
in the Amended Annual Report.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010110/IGTELOGO )
On May 2, 2005 the Company was notified by The Nasdaq Stock Market that
based upon the filing of the Amended Annual Report it was now back in
compliance with Nasdaq Marketplace Rule 4310(c)(14). The Nasdaq staff further
advised the Company that the matter relating to the delisting of the Company's
common stock from The Nasdaq National Market is closed, and that the trading
symbol for the Company's common stock will be changed from IGTEE to IGTE at
the opening of business on May 4, 2005.
About iGATE Corporation:
iGATE Corporation (Nasdaq: IGTEE) is the first fully integrated technology
and operations firm with a global service model. iGATE Corporation, through
its offshore subsidiary iGATE Global Solutions Ltd., enables clients to
optimize their business through a combination of process investment
strategies, technology leverage and business process outsourcing and
provisioning. Services include consulting, enterprise data management and data
warehousing, business intelligence and analytics, design, development, system
integration, package evaluation and implementation, re-engineering and
maintenance. iGATE Corporation also offers IT Professional Services in the
areas of packaged application implementation, custom development, web services
and business intelligence.
The company services more than 500 clients across five continents. Clients
rely on iGATE because of our high quality of service, our responsiveness and
our cost-effective global reach. More information on iGATE is available
at http://www.igatecorp.com .
Some of the statements in this news release that are not historical facts
are forward-looking statements. These forward-looking statements include our
financial, growth and liquidity projections as well as statements concerning
our plans, strategies, intentions and beliefs concerning our business, cash
flows, costs and the markets in which we operate. Without limiting the
foregoing, the words "believes," "anticipates," "plans," "expects" and similar
expressions are intended to identify certain forward-looking statements. These
statements are based on information currently available to us, and we assume
no obligation to update these statements as circumstances change. There are
risks and uncertainties that could cause actual events to differ materially
from these forward-looking statements. These risks include, but are not
limited to, our ability to predict our financial performance, the level of
market demand for our services, the highly-competitive market for the types of
services that we offer, the impact of competitive factors on profit margins,
market conditions that could cause our customers to reduce their spending for
our services, our ability to create, acquire and build new businesses and to
grow our existing businesses, our ability to attract and retain qualified
personnel, our ability to reduce costs and conserve cash, currency
fluctuations and market conditions in India and elsewhere around the world,
political and military tensions in India and South Asia, changes in generally
accepted accounting principles and/or their interpretation and other risks
that are described in more detail in our filings with the Securities and
Exchange Commission including our Form 10-K (as amended) for the year ended
December 31, 2004.
SOURCE iGATE Corporation
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Related links:
http://www.igatecorp.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20010110/IGTELOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Laureen Laby, Director, Investor Relations of
iGATE Corporation, +1-412-787-9230, or llaby@igate.com
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