Revenue, Profit Up At Virtusa
Westborough-based technology services provider Virtusa Corp. reported a 30-percent jump in revenue over last year and a 3-percent quarter-to-quarter increase.
In its most recent reporting period, which ended Dec. 31, the company took in $72.2 million, turning a net profit of $5.6 million, which represented a 19-percent jump from its previous quarter, and an even higher 25 percent increase from the third quarter of its previous fiscal cycle.
Virtusa expects its annual revenue to be between $277 million and $279 million, an increase of more than 27 percent from its 2011 revenue.
"Our third-quarter results were solid, particularly in the face of continued volatility in the global economy," Chairman and CEO Kris Canekeratne said. "We have reached a size and scale that, combined with our industry focus and best in class solution offerings, are enabling us to take on larger transformational programs."
Last summer, Virtusa expanded by acquiring Alas Consulting LLC, a New York City-based consulting firm that specializes in financial services. Later in 2011, it was honored by Forbes as one of the 100 best small public companies in America.
WBJ Web Partners
Most Recent
Most Recent
0 Comments