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Free Post Earnings Research Report: Luxoft’s Quarterly Revenue Advanced 14.1%

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LONDON, UK / ACCESSWIRE / June 26, 2018 / If you want access to our free earnings report on Luxoft Holding, Inc. (NYSE: LXFT), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LXFT. Luxoft reported its fourth quarter and fiscal 2018 operating and financial results on May 24, 2018. The software and IT Company beat revenue estimates while earnings were in-line with market expectations. Additionally, the Company provided guidance for the upcoming quarter. Register today and get access to over 1,000 Free Research Reports by joining our site below:


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Earnings Highlights and Summary

For the fourth quarter ended March 31, 2018, Luxoft's revenue was $232.9 million, up 14.1% as compared to revenue of $204.1 million in Q4 FY17. The Company's reported numbers beat analysts' estimate of $228.1 million.

During Q4 FY18, Luxoft’s adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) totaled $29.4 million compared to $29.2 million in Q4 FY17. The Company's reported quarter adjusted EBITDA margin was 12.6%, compared to 14.3% in the year ago same quarter.

For Q4 FY18, Luxoft's GAAP net income was $11.7 million, or $0.34 per diluted, compared to net income of $13.7 million, or $0.30 per share, in Q4 FY17.The Company's reported quarter non-GAAP net income was $20.5 million, or $0.59 per diluted share, versus $21.5 million, or $0.63 per diluted share, in the year corresponding earlier quarter. Luxoft’s reported numbers met Wall Street's estimates of $0.59 per share.

For the fiscal year 2018, Luxoft reported revenue of $906.8 million, up 15.4% compared to revenue of $785.6 million in fiscal year 2017.

For FY18, Luxoft recorded GAAP net income of $57.0 million, or $1.66 per diluted share, compared to $62.6 million, or $1.84 per diluted share, in FY17. For FY18, the Company posted non-GAAP earnings of $2.81 per diluted share compared to $2.89 per diluted share in the year earlier same quarter.

Operating Details

As of March 31, 2018, Luxoft's total number of employees was 12,898. The Company's annual revenue per billable engineer was $84,923, up 10.5% from on a y-o-y basis.

During Q4 FY18, Luxoft’s top two accounts amounted to 34.1% of revenue, representing a 3.4 percentage-point drop compared to the year ago corresponding period. The Company's top five accounts amounted to 46.8% of revenue, an annual 4.9 percentage-point decrease, and top ten accounts amounted to 56.3% of revenue, a 6.0 percentage point decline

Excluding Luxoft's top-two accounts, the Company's consolidated revenue increased 20.3% and its Financial Services’ surged 37.4%. This was Luxoft's 13th consecutive quarter of over 20% annual growth in Financial Services, excluding top-two accounts.

During Q4 FY18, Luxoft's revenue in APAC soared 103.2% to $13.1 million, while the Company's revenue from Europe advanced 34.9% to $84.7 million. For Q4 FY18, Luxoft’s revenue from North America totaled $71.5 million, down 9% on a y-o-y basis, and represented 30.7% of overall sales compared to 38.5% in the prior year's same quarter.


For the first quarter of fiscal 2019, Luxoft is forecasting revenue and adjusted EBITDA margin to be in the range of $210 million to $215 million and 8.5% to 9.5%, respectively. Based on project timing, seasonality, ramp down of the large Financial Services account and planned expenses related to SG&A optimization, the Company expects Q1 FY19 to be its slowest quarter, and Luxoft is estimating growth to accelerate as it moves through fiscal 2019.

Stock Performance Snapshot

June 25, 2018 - At Monday's closing bell, Luxoft's stock slightly fell 0.97%, ending the trading session at $35.65.

Volume traded for the day: 122.69 thousand shares.

Stock performance in the last month - up 9.19%

After yesterday's close, Luxoft's market cap was at $1.21 billion.

Price to Earnings (P/E) ratio was at 21.39.

The stock is part of the Technology sector, categorized under the Application Software industry.


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