VanceInfo raises 3Q revenue outlook

The Beijing-based company expects 2008 revenue of $96 million to $99 million, up from its guidance three months ago for $92 million to $96 million. Analysts surveyed by Thomson Reuters expect full-year revenue of $95.9 million, on average.

The updated forecast represents a revenue increase of 53 percent to 58 percent over last year's revenue.

VanceInfo also boosted the lower end of its full-year earnings expectations to 38 cents per share, excluding expenses from stock compensation, compared with earlier guidance of 37 cents per share. The company left unchanged the upper end of its expectations at 41 cents per share. Analysts expect a profit of 38 cents, on average.

The company expects third-quarter net income of 10 cents per share, excluding stock compensation expenses, and revenue of $25 million to $26 million. Analysts also expect a profit of 10 cents per share, and revenue of $25.8 million, on average.

VanceInfo on Thursday also reported its second-quarter profit surged by more than half, beating Wall Street expectations, to $3.6 million, or 9 cents per share.

American Depositary Shares of VanceInfo rose 19 cents, or about 2 percent, to $9.36 in morning trading.