Headstrong Demonstrates Continued Record Growth

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This 47% revenue growth is being achieved with more and more of our global clients embracing our domain led distributed consulting model as an integral part of their outsourcing strategy.

We continue to strengthen our place in the Financial Markets vertical and consolidate our position towards leadership. Our customers find greater value that we deliver in our focus areas over the traditional Big 4 or the contemporary offshore providers. The market continues to reward suppliers with differentiated, technology-enabled services and recurring revenue models

Headstrong, a global consultancy, today announced its second quarter results demonstrating robust growth in revenue and earnings. The revenue in Q2, 2006 grew at over 47% over last year second quarter. The company is on track to beat the budgeted revenue forecast for 2006 and expects to grow at over 40% during 2006 and 2007.

"We will cross the $150 million threshold this year with a robust backlog and bottom line. This goes to prove that mid-tier players with the right model, offering value added services can demonstrate 40%+ growth and deeper penetration within the Fortune customers. We continue to aspire for global leadership within the domain-led niches we focus on and the value of true distributed consulting model. North America and Asia led by Japan continue to have a very positive outlook and robust pipeline for rest of the year and 2007," says Arjun Malhotra, Chairman and CEO.

"We continue to strengthen our place in the Financial Markets vertical and consolidate our position towards leadership. Our customers find greater value that we deliver in our focus areas over the traditional Big 4 or the contemporary offshore providers. The market continues to reward suppliers with differentiated, technology-enabled services and recurring revenue models," says Nicki Mehra, Managing Director, Corporate Strategy.

As a testament to Headstrong's leadership in the outsourcing space, the company is selected as one of The Global Outsourcing 100 by The International Association of Outsourcing Professionals (IAOP). Recently, Headstrong’s distributed consulting model was honored and awarded the Philippines Cyber Services Pioneer Award (PCSPA) for the leadership role it played in the growth of Philippines outsourcing industry.

Headstrong's global employee strength crossed 2000 during the quarter. Headstrong’s Global Delivery Centers (GDC), both in India and Philippines, continue to grow rapidly. Over $20 million is being invested during the year for infrastructure expansion at both the locations with newer facilities and HR development.

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Raymond Dakis
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