SOUTHBOROUGH, Mass. (AP) _ Virtusa Corp. (VRTU) on Thursday reported fiscal first-quarter earnings of $894,000.
On a per-share basis, the Southborough, Massachusetts-based company said it had profit of 1 cent. Earnings, adjusted for one-time gains and costs, came to 20 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The provider of information technology services posted revenue of $301.1 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $287.2 million.
For the current quarter ending in October, Virtusa expects its per-share earnings to range from 50 cents to 56 cents.
The company said it expects revenue in the range of $311 million to $319 million for the fiscal second quarter.
Virtusa shares have decreased 22% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $35.27, a decline of 24% in the last 12 months.