Epam: 1Q Earnings Snapshot

NEWTOWN, Pa. (AP) _ Epam Systems Inc. (EPAM) on Thursday reported first-quarter net income of $60.8 million.

On a per-share basis, the Newtown, Pennsylvania-based company said it had net income of $1.06. Earnings, adjusted for one-time gains and costs, were $1.21 per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.

The information technology services provider posted revenue of $521.3 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $518.8 million.

Epam expects full-year earnings to be $5.19 per share.

Epam shares have increased 47% since the beginning of the year. The stock has increased 46% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EPAM at https://www.zacks.com/ap/EPAM