Revenue, Earnings Up at Virtusa
Virtusa Corp. of Westborough reported revenue growth of 17 percent in its most recent quarter, but fell short of analysts’ estimates for both profit and revenue.
The company reported earnings of 28 cents per share for the quarter ending Sept. 30, the second of its 2014 fiscal year. That was above 2012 earnings of 23 cents per share, but below expectations of 30 cents.
Year-over-year revenue at Virtusa grew from $80.5 million to $94.3 million, but that too fell short of predictions of $94.4 million.
“Our efforts to scale the business and leverage our global resources have enabled us to expand our operating profit margins while still investing for growth,” said Ranjan Kalia, the company’s chief financial officer, in a statement.
Virtusa increased its earnings estimates to 32 to 36 cents per share in the next quarter and $1.25 to $1.33 per share for the company’s 2014 fiscal year, which ends in March.
Read more
Virtusa Reports Quarterly, Yearly Gains
The Growth Keeps Coming For Westborough's Virtusa
WBJ Web Partners
Most Recent
Most Recent
0 Comments