IT Services - Infosys conference call transcript

Obviously based on the large IT services exposure I have in companies like Cognizant CTSH and Infosys INFY, I like to keep track at what management is saying about business conditions.

A transcript of Infosys's recent conference call is here courtesy of Seeking Alpha.

I try not to read with rose-colored glasses, but the statements from Infosys indicate a solid outlook for the future. An area of concern with analysts is that some customer's budget process has been delayed due to macroeconomic concerns, but in the cases where budgeting decisions are final Infosys sees strong demand going into 2008, including in troubled sectors like banking. The ROI for IT services seems strong and companies seem to continue to be willing to spend more in that area.

I guess overall I'm not seeing stock price action in the group that is consistent with the business outlook provided by Infosys. I've been wrong on these stocks so far, but I'm going to stick with them - perhaps looking to add more.