VanceInfo tops; sees tax break (Investor's Business Daily)

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Investor's Business Daily - The Chinese outsourced IT services firm's Q4 EPS increased 38% to 22 cents, a cent better than estimates, on continued growth in the greater China market. Revenue also grew 38% to $59.6 mil, also topping expectations. Gross margin narrowed to 37.4% from 37.7% on rising wage pressure. Operating expenses leapt 52%. VanceInfo Technologies guided Q1 and 2011 EPS down, but a change in Chinese taxes could send yearly EPS above views. Shares rose 2.6% to 33.20.

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