Thursday, 14 May 2015

Virtusa posts healthy first quarter results

Virtusa Corporation, reported consolidated financial results for the fourth quarter and full fiscal year 2015, ended March 31, 2015.

Revenue for the fourth quarter of fiscal 2015 was $126 million, an increase of 2.5% sequentially and 13% year-over-year.

On a constant currency basis,one fourth quarter revenue increased 4% sequentially and 17% year-over-year.

Virtusa reported GAAP income from operations of $14.5 million for the fourth quarter of fiscal 2015, compared to $14.6 million for the third quarter of fiscal 2015, and an increase compared to $12.5 million for the fourth quarter of fiscal 2014.

On a GAAP basis, net income for the fourth quarter of fiscal 2015 was $11.6 million, or $0.39 per diluted share, compared to $11.8 million, or $0.40 per diluted share, for the third quarter of fiscal 2015, and an increase from $10.0 million, or $0.35 per diluted share, for the fourth quarter of fiscal 2014.

GAAP earnings per diluted share for the fourth quarter of 2015 included a ($0.01) cumulative impact from acquisition related transaction expenses and foreign currency transaction losses.
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