Editorial Summary

Chinese offshore software developer VanceInfo Technologies Inc. (NYSE: VIT) booked net revenue of $20.5 million, up 96.5 percent year-on-year, and net income of $3.1 million, up 138.3 percent year-on-year, for the first quarter of 2008. During the quarter, 61.5 percent of net revenue came from US-based companies with its two largest clients, Microsoft and IBM, making up 31.4 percent of total net revenue. The two companies accounted for 46.4 percent of net revenue in the year-ago period.

VanceInfo expects second quarter revenue to come in between $22 million and $23 million. The company has not changed its guidance for the year.