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Last $45.23 USD
Change Today -0.18 / -0.40%
Volume 51.5K
VRTU On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 4:30 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

virtusa corp (VRTU) Key Developments

Virtusa Corporation Announces Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2015; Provides Earnings Guidance for the First Fiscal Quarter and Fiscal Year Ending March 31, 2016

Virtusa Corporation announced earnings results for the fourth quarter and full year ended March 31, 2015. For the March quarter, revenue was $126 million, an increase of 2.5% sequentially and 13% year-over-year in reported currency. Gross margin during the fourth quarter was 36.7% compared to 37.3% in the prior quarter and 38.4% in the year-ago period. As expected, its fourth quarter gross margin was impacted by higher on-site effort. GAAP operating income for the fourth quarter was $14.5 million compared to $14.6 million in the prior quarter and $12.5 million in the year-ago period. GAAP net income for the March quarter was $11.6 million compared with $11.8 million in the prior quarter and $10 million in the fourth quarter of fiscal 2014. GAAP diluted earnings per share was $0.39 in the fourth quarter of fiscal 2015 compared to $0.40 in the prior quarter and $0.35 in the year-ago period. With respect to its non-GAAP results, non-GAAP operating profit was $19.2 million, up 15% year-over-year. Fourth quarter non-operating margin was 15.2% compared to 15.5% in the prior quarter and 15% in the year-ago period. Non-GAAP net income was $15.1 million in the fourth quarter and $15.2 million for the third quarter of 2015 compared to $13.1 million in the fourth quarter of fiscal 2014. Non-GAAP diluted earnings per share was $0.51 in both fourth quarter and third quarter of 2015 compared to $0.45 in the year-ago period. For the full year, revenue increased 21% to $479 million, and its GAAP operating profit increased 24% to $52.6 million. GAAP income from operations was $52.6 million or 11% of revenue, an increase of 24%. GAAP net income was $42.4 million, an increase of 23%. The increase in the net income resulted in diluted EPS of $1.44 compared to $1.27 per fiscal year 2014. On a non-GAAP basis, operating profit was $68.3 million, an increase of 25%, and operating margin was 14.3% compared to 13.8% for fiscal year 2014. Non-GAAP net income was $54.4 million, an increase of 24%. Non-GAAP diluted EPS was $1.84 compared to $1.63 for fiscal year 2014. The company provided its current guidance for the first fiscal quarter and fiscal year ending March 31, 2016. Revenue in the first quarter of fiscal 2016 is expected to be in the range of $132.5 million to $135.5 million. GAAP diluted earnings per share in the first quarter of fiscal 2016 is expected to be in the range of $0.33 to $0.35. Non-GAAP diluted earnings per share in the first quarter of fiscal 2016 is expected to be in the range of $0.48 to $0.50. First quarter earnings per share guidance anticipates an average count of approximately $29.9 million. For the fiscal year ending March 31, 2016, the company expects revenue to be in the range of $569 million to $587 million or approximately 21% growth at the midpoint and 23% in constant currency. This is inclusive of organic growth of 14% and organic constant currency growth of 16%. The company continues to expect the Apparatus acquisition to contribute approximately $34 million of revenue. GAAP diluted earnings per share for fiscal year 2016 is expected to be in the range of $1.51 to $1.67. Included in the GAAP EPS guidance is approximately $0.06 diluted impact from the recently announced acquisition -- Apparatus acquisition. This is inclusive of approximately $600,000 of transaction expenses and approximately $5 million of acquisition-related expenses such as amortization of intangibles, contingent consideration and stock-based compensation. Consolidated non-GAAP diluted earnings per share for fiscal year 2016 is expected to be in the range of $2.15 to $2.31. For fiscal year 2016, EPS anticipates an average share count of approximately 30 million. On the operating margin side, the expectation at the midpoint of its fiscal 2016 guidance is for: GAAP combined operating margin to decline by approximately 60 basis points year-over-year primarily due to the Apparatus dilution impact of 120 basis points, GAAP organic operating margin to expand by approximately 60 basis points inclusive of an 80 basis points impact from European cross-currency movements, non-GAAP combined operating margin to increase 60 basis points compared to fiscal year 2015. At the midpoint of its fiscal year 2016 guidance range, the company expects the GAAP EPS to increase 12% and non-GAAP EPS to increase 17%.

Virtusa Corp. to Report Q4, 2015 Results on May 11, 2015

Virtusa Corp. announced that they will report Q4, 2015 results at 5:00 PM, US Eastern Standard Time on May 11, 2015

Virtusa Corp., Q4 2015 Earnings Call, May 11, 2015

Virtusa Corp., Q4 2015 Earnings Call, May 11, 2015

Virtusa Corp. Presents at Cowen and Company 43rd Annual Technology, Media & Telecom Conference 2015, May-27-2015 09:30 AM

Virtusa Corp. Presents at Cowen and Company 43rd Annual Technology, Media & Telecom Conference 2015, May-27-2015 09:30 AM. Venue: The New York Palace Hotel, 455 Madison Avenue, New York, NY 10022, United States.

Virtusa Launches Client Life Cycle Management Solution in Sweden

Virtusa Corporation has launched its client life cycle management solution for financial institutions in the Swedish market. The end-to-end solution extends from new client requests to account setup and creation; key regulatory requirements of US and Europe are also covered in the solution. The benefits for institutions include lower costs, faster on-boarding, increased customer satisfaction and better client penetration.

 

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VRTU

Industry Average

Valuation VRTU Industry Range
Price/Earnings 31.1x
Price/Sales 2.7x
Price/Book 3.1x
Price/Cash Flow 31.2x
TEV/Sales 2.3x
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