Virtusa revenue skyrockets amid expansion
PHOTO/Matt VOLPINI
Kris Canekeratne, Chairman & CEO, Virtusa Corp., Westborough has grown the company and recently helped complete the purchase of Polaris.
Virtusa Corporation has reported a 36 percent boost to revenue in its fourth quarter amid an expansion where the company purchased India-based Polaris Consulting & Services.
The Westborough IT services company reported fourth quarter 2016 revenue of $171.9 million, which is a 14 percent sequential and 36 percent year-over-year increase. This news rounded out a strong year for Virtusa that saw fiscal year 2016 revenue of $600.3 million, an increase of 25 percent year-over-year. Excluding partial fourth quarter revenue from Polaris, fiscal year 2016 revenue was up 21 percent.
Non-GAAP net income for fiscal year 2016 was $61.9 million, or $2.06 per diluted share, an increase compared to $54.4 million, or $1.84 per diluted share, for fiscal year 2015.
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