Stock Monitor: 21Vianet Group Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 29, 2018 / Active-Investors.com has just released a free earnings report on EPAM Systems, Inc. (NYSE: EPAM) ("EPAM"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EPAM. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on February 16, 2018. The information technology services provider surpassed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, EPAM Systems most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended December 31, 2017, EPAM's revenues surged 27.4% to $399.3 million compared to $313.5 million in Q4 2016. The Company's revenue numbers beat analysts' estimates of $395.6 million.
For Q4 2017, EPAM's GAAP income from operations was $52.1 million, reflecting an increase 39.2% compared to $37.4 million in Q4 2016. The Company's non-GAAP income from operations was $66.9 million in the reported quarter, up 30.1% compared to $51.5 million in the prior year's same quarter.
EPAM's GAAP net loss was $30.9 million, or $0.58 loss per diluted share, in Q4 2017 compared to a net income of $24.8 million, or $0.46 per diluted share, in Q4 2016. The Company's earnings results for the reported quarter included a provisional $74.6 million charge related to the US tax reform.
EPAM's non-GAAP income surged 31.2% to $1.01 per diluted share in Q4 2017 compared to $0.77 per diluted share in Q4 2016. The Company's earnings numbers beat Wall Street's estimates of $0.97 per share.
For the full year FY17, EPAM's revenues advanced 25.0% to $1.45 billion compared to $1.16 billion in FY16.
For FY17, EPAM recorded a GAAP net income of $72.8 million, or $1.32 per diluted share, compared to $99.3 million in FY16. On a non-GAAP basis and excluding the provisional charge related to the US tax reform, the Company's earnings rose 19.35% to $3.46 per diluted share in FY17 compared to $2.90 per diluted share in FY16.
As of December 31, 2017, EPAM's cash and cash equivalents totaled $582.6 million, reflecting an increase of 60.9% from $362.0 million as of December 31, 2016. The Company's cash from operations was $71.4 million in Q4 2017 compared to $53.7 million in Q4 2016, and was $195.4 million for FY17, up from $164.8 million in FY16.
EPAM's total headcount was approximately 25,900 as of December 31, 2017. Included in this number were approximately 22,900 delivery professionals, an increase of 16.9% over the previous year.
For the full fiscal year 2018, EPAM is expecting revenue growth to be at least 24%, including an estimated 2% for currency tailwinds. The Company is forecasting GAAP income from operations to be in the range of 12% to 13% of revenues, and non-GAAP income from operations to be in the band of 16% to 17% of revenues. EPAM is estimating GAAP earnings to be at least $3.38 per diluted share, and non-GAAP earnings to be at least $4.03 per diluted share for FY18.
For the first quarter of the fiscal year 2018, EPAM is projecting revenues to be at least $414 million, reflecting a y-o-y growth rate of at least 27%, including an estimated 4% for currency tailwinds. For Q1 2018, the Company is expecting GAAP income from operations to be in the range of 11.5% to 12.5% of revenues, and non-GAAP income from operations to be in the band of 15% to 16% of revenues. EPAM is anticipating GAAP earnings to be at least $0.76 per diluted share, and non-GAAP earnings to be at least $0.90 per diluted share for the upcoming quarter.
Stock Performance Snapshot
March 28, 2018 - At Wednesday's closing bell, EPAM Systems' stock dropped 1.57%, ending the trading session at $111.53.
Volume traded for the day: 369.34 thousand shares, which was above the 3-month average volume of 313.51 thousand shares.
Stock performance in the last three-month – up 3.67%; previous six-month period – up 31.93%; past twelve-month period – up 49.50%; and year-to-date – up 3.82%
After yesterday's close, EPAM Systems' market cap was at $6.13 billion.
Price to Earnings (P/E) ratio was at 41.02.
The stock is part of the Technology sector, categorized under the Information Technology Services industry.
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