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Epam beats Street 3Q forecasts

NEWTOWN, Pa. (AP) _ Epam Systems Inc. (EPAM) on Thursday reported third-quarter earnings of $42.6 million.

On a per-share basis, the Newtown, Pennsylvania-based company said it had profit of 77 cents. Earnings, adjusted for one-time gains and costs, came to 96 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.

The information technology services provider posted revenue of $377.5 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $367.8 million.

For the current quarter ending in December, Epam expects its per-share earnings to be 96 cents.

The company said it expects revenue in the range of $395 million for the fiscal fourth quarter.

Epam expects full-year earnings to be $3.41 per share.

Epam shares have climbed 41 percent since the beginning of the year. The stock has increased 41 percent in the last 12 months.


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