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Virtusa: Fiscal 4Q Earnings Snapshot

SOUTHBOROUGH, Mass. (AP) _ Virtusa Corp. (VRTU) on Wednesday reported fiscal fourth-quarter earnings of $22.2 million.

On a per-share basis, the Southborough, Massachusetts-based company said it had net income of 66 cents. Earnings, adjusted for one-time gains and costs, were 41 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The provider of information technology services posted revenue of $329.7 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $330 million.

For the year, the company reported profit of $47.9 million, or $1.42 per share. Revenue was reported as $1.31 billion.

Virtusa shares have decreased 30% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $31.76, a decline of 39% 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 VRTU at https://www.zacks.com/ap/VRTU