May 13, 2010
Westborough Firm Expects Growth After Flat Year
By Matthew L. Brown
Westborough IT firm Virtusa Corp. reported a $3.6 million profit on revenue of $47.8 million for its fourth quarter.
In the same period a year ago, the company made a $2.9 million profit on revenue of $41.4 million.
For the full year, Virtusa reported a revenue decrease of 5 percent to $164.4 million and a profit of $12.1 million, unchanged from the prior year.
The company ended the year with $43.6 million in cash and equivalents compared to $55.7 million a year ago.
The company expects to bring in between $201 million and $215 million in revenue during its 2011 fiscal year. It expects first quarter revenue to hit between $49.8 million and $52.3 million.
WBJ Web Partners
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