UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 21, 2015
Syntel, Inc.
(Exact name of registrant as specified in its charter)
| Michigan | 000-22903 | 38-2312018 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 525 E. Big Beaver Road, Suite 300, Troy, Michigan | 48083 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code (248) 619-2800
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. Other Events.
On December 21, 2015, Syntel, Inc. (the “Company”) issued a press release updating 2015 guidance on revenue. A copy of the press release is attached to this Report as Exhibit 99.1. The information contained in this Current Report, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except if the Company expressly states that such information is to be considered “filed” under the Exchange Act or incorporates it by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit Number |
||||
| 99.1 | Press Release dated December 21, 2015. | |||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Syntel, Inc. | ||||
| (Registrant) |
| Date December 21, 2015 | By | /s/ Daniel M. Moore | ||||
| Daniel M. Moore, Chief Administrative Officer |
2
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Press Release dated December 21, 2015. | |
3
Exhibit 99.1
Syntel Revises 2015 Revenue Outlook
TROY, Mich. – December 21, 2015 – Syntel, Inc. (Nasdaq: SYNT), a global provider of digital transformation, information technology and knowledge process services to Global 2000 companies, today announced that the Company is revising its 2015 revenue outlook.
During the fourth quarter, unprecedented rains and flooding in Chennai resulted in a significant disruption to the lives of millions of Chennai residents and a large number of Syntel employees. This natural disaster prompted government authorities to issue a city-wide travel restriction, during which Syntel suspended non-essential operations at its Chennai facilities.
However, Syntel’s teams successfully executed the Company’s business continuity plans to ensure that all employees were safe and there was no impact to mission-critical activities. Syntel maintained open lines of communication with its clients during the flooding, working closely to manage all client deliverables.
Syntel would like to extend its thanks to all employees for their extra effort and dedication in restoring the Company’s Chennai operations to normal.
Based on these factors, Syntel now expects revenue in the range of $967 to $970 million for 2015. The Company’s full-year 2015 EPS outlook remains unchanged, in the range of $2.80 to $2.90.
About Syntel
Syntel (Nasdaq: SYNT) is a global provider of digital transformation, information technology and knowledge process services to Global 2000 companies. Syntel’s mission is to create new opportunities for clients by harnessing our passion, talent and innovation. We combine technology expertise, industry knowledge and a global delivery model to drive business value creation. Syntel’s “Customer for Life” philosophy drives our relentless focus to build long-term, collaborative client partnerships. To learn more, visit us at: www.syntelinc.com
Safe Harbor Provision
This news release may include forward-looking statements, including those with respect to the future level of business for Syntel, Inc. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 or from other factors not currently anticipated.
Contacts:
North America/Europe: Jon Luebke, Syntel, 248/619-3503, jon_luebke@syntelinc.com
Asia/Pacific: Sikta Samantaray, +91 9167512186, sikta_samantaray@syntelinc.com
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