This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Virtusa Corporation F1Q11 (Qtr End 06/30/10) Earnings Call Transcript

Here are some of the highlights from the first quarter fiscal year 2011. For the June quarter, total revenue was $51.4 million, an increase of 38% year-over-year and 8% sequentially. Our operating income was $3.1 million or 6% and earnings per diluted share was $0.13. Our Q1 growth was broad-based and spent many of our services, geographies and industries. Financial services revenue was particularly strong growing 58% year-over-year driven by the ongoing need of our clients to find operating efficiencies and increases in discretionary spending.

Let me take a moment to provide you with additional detail on what is driving this trend of other business and why we believe that our growth drivers are sustainable. First, the demand environment is improving, clients continue to look to Virtusa to drive operational efficiencies and rationalize their IT spend. We are uniquely able to do this through our platforming approach and optimized global delivery model.

What has changed, however, is that the savings we generate for our clients are now being reinvested in growth initiatives. This is enabling Virtusa to participate in this entire life-cycle from reducing application maintenance costs to investment in support of business outcomes that accelerate time-to-market and improve the consumer experience.

Our value proposition matched with a better business environment, is also translating to strong client wins. During the quarter, we added five new clients. All five clients are high quality and have the potential to become strategic. Second, our engagement teams are focused on improving our clients’ end-user experience. This provides us with insights into customer facing processes and critical business drivers enabling us to innovate reduced cycle time, improve application efficiency and create competitive advantage for our clients. This focus on our clients’ consumer experience continues to differentiate us within the marketplace.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
VRTU $48.33 -2.60%
AAPL $122.99 0.18%
FB $93.70 -0.50%
GOOG $623.88 -0.54%
TSLA $254.74 0.68%

Markets

Chart of I:DJI
DOW 17,475.50 +34.91 0.20%
S&P 500 2,076.46 +8.82 0.43%
NASDAQ 5,062.9870 +23.2110 0.46%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs