insane dividends

[wzebra33]

BOSTON, Aug 04, 2011 (BUSINESS WIRE) -- --Non-GAAP Operating Profit Increases 52% Over Q2 2010

Sapient SAPE -5.79% today reported the following financial results for the second quarter ended June 30, 2011:

-- Service revenues were $254.6 million compared to $200.4 million in the second quarter of 2010, an increase of $54.2 million or 27%. Sequentially, service revenues were up $13.3 million, or 6%, from $241.3 million in the first quarter of 2011. On a constant currency basis, revenues increased 24% over the second quarter of 2010 and 5% sequentially.

-- GAAP income from operations was $23.1 million, or 9.1% of service revenues, up 80% from $12.9 million, or 6.4% of service revenues, reported in the second quarter of 2010.

-- Non-GAAP income from operations was $29.9 million, or 11.8% of service revenues, up 52% from $19.8 million, or 9.9% of service revenues, reported in the second quarter of 2010.

-- GAAP diluted net income per share was $0.11, compared to $0.06 in the second quarter of 2010.

-- Non-GAAP diluted net income per share was $0.14, compared to $0.09 in the second quarter of 2010.

"Our 27% year-over-year organic revenue growth and overall operating performance in the quarter demonstrate our success in the market," said Sapient President and Chief Executive Officer Alan J. Herrick. "We remain excited about the growth opportunities ahead and our unique position to capitalize on those opportunities. We are pleased to be able to return excess capital to our stockholders through a special dividend due to our strong financial position and confidence in our outlook."

The company generated cash from operations of $38.4 million in the second quarter of 2011, an increase of 153% from $15.2 million in the second quarter of 2010. As of June 30, 2011, the company had cash, cash equivalents and marketable securities of $242.6 million. Days sales outstanding was 69 days for the second quarter of 2011, down from 73 days in the first quarter of 2011 and equal to the 69 days for the second quarter of 2010.

Special Dividend

The company's Board of Directors declared a special dividend in the amount of $0.35 per share payable on August 29, 2011 to stockholders of record at the close of business on August 15, 2011.