virtusa corp (VRTU) Key Developments
Virtusa Corporation Announces Availability of its Accelerated Domain Solutions for Pega Testing
Sep 30 15
Virtusa Corporation has announced the availability of its Accelerated Domain solutions for Pega Testing, or ADOPT, framework. The comprehensive testing platform for Pega based applications will help deliver cost optimization without compromising on overall quality. Enterprises are at the cusp of fundamental change in the market environment due to digital technologies driving business transformation across industries. The company's new ADOPT offering is helping businesses to not only reduce the downstream risks due to poor quality, but more importantly to accelerate implementation cycles leading to faster time to market of high quality solutions. In addition to its proprietary ADOPT methodology, companies turning to Virtusa for Pega implementation will reap the benefits of the company's 14 years of Pega experience developing framework which has helped countless global organizations achieve cost optimization without compromising on quality and application availability. Virtusa's BPM practice helps enterprises optimize, automate and manage business processes through design and implementation of BPM platforms. Virtusa has a dedicated Center of Excellence for Pegasystems, and is a trusted Pegasystems Platinum partner. From early 2003, the company has developed vertical applications using Pega's PRPC core platform and Solution Frameworks including Process Manager (CPM), Smart Dispute and Smart Investigate.
Virtusa Reportedly Eyes Polaris
Sep 28 15
Virtusa Corporation (NasdaqGS:VRTU) is discussing potential acquisition of Polaris Consulting & Services Limited (BSE:532254) in a deal valued at $350 million. Virtusa Corporation is discussing a potential acquisition of Polaris Consulting & Services in a deal valued at $350 million, people familiar with the development said. Polaris, being advised by Credit Suisse Group AG (SWX:CSGN), could soon reach a decision on the acquirer as negotiations were fairly advanced, one of the sources added. Fiserv, Inc. (NasdaqGS:FISV), Genpact Limited (NYSE:G), Tech Mahindra Limited (NSEI:TECHM) are among other possible suitors.
Virtusa Corporation Announces Availability of ADOPT Framework
Sep 24 15
Virtusa Corporation announced the availability of its ADOPT (Accelerated Domain solutions for Pega Testing) framework. The comprehensive testing platform for Pega based applications will help deliver cost optimization without compromising on overall quality.
Virtusa Corp. Presents at 8th Annual Barrington Research Fall Conference 2015, Sep-02-2015
Aug 20 15
Virtusa Corp. Presents at 8th Annual Barrington Research Fall Conference 2015, Sep-02-2015 . Venue: Four Seasons Hotel Chicago, 900 North Michigan Shops, 120 E Delaware Place, Chicago, IL 60611, United States.
Virtusa Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended June 30, 2015; Provides Earnings Guidance for the Full Year and Second Quarter of Fiscal Year 2016
Jul 28 15
Virtusa Corporation announced unaudited consolidated earnings results for the first quarter ended June 30, 2015. For the quarter, the company reported revenue of $134,844,000 compared to $112,274,000 a year ago. Income from operations was $12,410,000 compared to $11,230,000 a year ago. Income before income tax expense was $13,800,000 compared to $12,224,000 a year ago. Net income was $10,113,000 or $0.34 per diluted share compared to $9,003,000 or $0.31 per diluted share a year ago. Net cash provided by operating activities was $1,445,000 compared to net cash used in operating activities of $2,500,000 a year ago. Purchase of property and equipment was $2,138,000 compared to $4,448,000 a year ago. Non-GAAP income from operations was $18,240,000 compared to $13,986,000 a year ago. Non-GAAP net income was $14,405,000 or $0.48 per diluted share compared to $11,147,000 or $0.38 per diluted share a year ago. Capital expenditures were $2.1 million in the June quarter.
The company provided earnings guidance for the full year and second quarter of fiscal year 2016. Second quarter fiscal 2016 revenue is expected to be in the range of $140.3 to $143.3 million. GAAP diluted EPS is expected to be in the range of $0.33 to $0.35 and non-GAAP diluted EPS is expected to be in the range of $0.47 to $0.49.
Fiscal year 2016 revenue is expected to be in the range of $582 to $594 million. GAAP diluted EPS is expected to be in the range of $1.53 to $1.65 and non-GAAP diluted EPS is expected to be in the range of $2.13 to $2.25.