Virtusa Corp. (NASDAQ:VRTU) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Virtusa Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 52.17% to $0.35 in the quarter versus EPS of $0.23 in the year-earlier quarter.
Revenue: Rose 21.11% to $89.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Virtusa Corp. reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.31. It beat the average revenue estimate of $89.74 million.
Quoting Management: Kris Canekeratne, Virtusa’s Chairman and CEO, stated, “The fourth quarter capped off a strong fiscal year 2013 for Virtusa. Our industry leading growth was driven by our ability to provide thought leadership at the intersection of business and technology in the industries we serve. Our leadership position in Millennial Enablement, regulatory and compliance services, transformational solutions and IT rationalization has been at the core of winning larger engagements and expanding client relationships.”
Key Stats (on next page)…
Revenue increased 3.97% from $86.47 million in the previous quarter. EPS increased 20.69% from $0.29 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.31 and has not changed. For the current year, the average estimate is a profit of $1.07, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)