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Luxoft misses 4Q profit forecasts

ZUG, Switzerland (AP) _ Luxoft Holding Inc. (LXFT) on Monday reported fiscal fourth-quarter net income of $13.7 million.

The Zug, Switzerland-based company said it had profit of 40 cents per share. Earnings, adjusted for one-time gains and costs, came to 63 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.

The software and IT company posted revenue of $204.1 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $200.7 million.

For the year, the company reported profit of $62.6 million, or $1.84 per share. Revenue was reported as $785.6 million.

Luxoft expects full-year earnings to be $3.26 per share, with revenue expected to be $943 million.

Luxoft shares have risen 17 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $65.60, an increase of 11 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 LXFT at https://www.zacks.com/ap/LXFT


Keywords: Luxoft, Earnings Report