Needham & Company Cuts Price Target on Virtusa (VRTU) Following 4Q Results and Guidance
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Virtusa Announces Fourth Quarter and Full Fiscal Year 2016 Consolidated Financial Results
May 16, 2016 6:30 AM EDTFourth quarter fiscal 2016 revenue of $171.9 million increased 14% sequentially and 36% year-over-year. Excluding $19.4 million of revenue from Polaris for the 29 day post-acquisition period, revenue was up 1.2% sequentially and 21% year-over-year. Fourth quarter fiscal 2016 diluted EPS on a GAAP basis was $0.41, and $0.55 on a non-GAAP basis. Polaris contributed diluted EPS of $0.04 and $0.01 on a GAAP and non-GAAP basis, respectively. Fiscal year 2016 revenue of $600.3 million increased 25% year-over-year. Excluding partial fourth quarter revenue from Polaris, fiscal year 2016 revenue was up 21%. Fiscal year 2016 diluted EPS on a GAAP basis was $1.49,... More
