Virtusa: Fiscal 3Q Earnings Snapshot

February 6, 2020 GMT

SOUTHBOROUGH, Mass. (AP) _ Virtusa Corp. (VRTU) on Thursday reported fiscal third-quarter net income of $12.7 million.

On a per-share basis, the Southborough, Massachusetts-based company said it had profit of 38 cents. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 78 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.

The provider of information technology services posted revenue of $335.1 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $336.8 million.

For the current quarter ending in March, Virtusa expects its per-share earnings to range from 90 cents to 96 cents.

The company said it expects revenue in the range of $353.4 million to $361.4 million for the fiscal fourth quarter.

Virtusa expects full-year earnings in the range of $2.63 to $2.69 per share, with revenue expected to be $1.34 billion.

Virtusa shares have risen slightly since the beginning of the year. In the final minutes of trading on Thursday, shares hit $45.55, a fall of 7% 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