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Virtusa Corp. Message Board

  • jimgggg jimgggg Nov 1, 2010 10:03 AM Flag

    Net earnings up 24% YOY

    In our three months ended September 30, 2010, our revenue increased by 40.5% to $52.7 million, compared to $37.5 million in our three months ended September 30, 2009. In our six months ended September 30, 2010, our revenue increased by 39.0% to $104.1 million, compared to $74.9 million in our six months ended September 30, 2009.

    Net income increased by 24.4%, or $0.7 million, to $3.7 million in our three months ended September 30, 2010, as compared to $3.0 million in our three months ended September 30, 2009. Net income increased by 20.6%, or $1.2 million, to $6.8 million in our six months ended September 30, 2010, as compared to $5.6 million in our six months ended September 30, 2009.

    The increase in revenue for the three and six months ended September 30, 2010, as compared to the three and six months ended September 30, 2009, primarily resulted from:

    � Higher revenue contribution from our clients existing as of September 30, 2009, including our largest client; and

    � Revenue from clients obtained in connection with the acquisition of InSource LLC ("InSource") in November 2009 and ConVista Consulting LLC ("ConVista") in February 2010.

    The key drivers of the increase in our net income for the three and six months ended September 30, 2010, as compared to the three and six months ended September 30, 2009, were as follows:

    � Higher revenue contribution from new and existing clients, including those clients acquired in the recent acquisitions;

    � Decreased operating expenses as a percentage of revenue due to our ability to leverage operating efficiencies over a larger revenue base; and

 
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41.24+0.16(+0.39%)Dec 26 4:00 PMEST

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