Virtusa announces consolidated financial results in Q2
Revenue for the second quarter of 2012 tops $70.3
million:
Virtusa Corporation has reported consolidated financial results for
the second quarter fiscal year 2012, ended September 30, 2011.
Revenue for the second quarter of fiscal 2012 was $70.3 million, an
increase of 15% sequentially and 33% year-over-year. On a constant
currency basis second quarter revenue increased 16% sequentially and 33%
year-over-year.
Virtusa reported income from operations of $5.5 million for the
second quarter of fiscal 2012, compared to $4.8 million for the first
quarter of fiscal 2012, and compared to $4.0 million for the second
quarter of fiscal 2011.
Net income for the second quarter of fiscal 2012 was $4.7 million, or
$0.18 per diluted share, compared to $4.0 million, or $0.16 per diluted
share, for the first quarter of fiscal 2012, and compared to $3.7
million, or $0.15 per diluted share, for the second quarter of fiscal
2011.
Net income for the second quarter of fiscal 2012 included $0.1
million of foreign currency transaction losses.
Virtusa's Chairman and CEO Kris Canekeratne, said, "Our second
quarter performance demonstrated that the investments we have made to
expand our presence in newer verticals such as health care and across
our existing client base are showing results. In addition, our core BFSI
business continues to drive growth for Virtusa, while revenue in our
capital markets business was below expectations. We continue to believe
that our expanded banking, financial services and capital markets
offerings increase our strategic value and remain central to our
long-term growth," he said. |
