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TheStreet Open House

WNS Announces Second Quarter Fiscal 2013 Earnings

WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global business process outsourcing (BPO) services, today announced results for the 2013 fiscal second quarter ended September 30, 2012.

Highlights:

GAAP Financials

  • Revenue of $113.1 million, down 4.1% from $117.9 million in Q2 of last year ( primarily due to reduced pass-through expenses in the Auto Claims business ) and up 4.9% from $107.8 million last quarter
  • Profit of $4.3 million, compared to $3.4 million in Q2 of last year and $2.8 million last quarter
  • Diluted earnings per ADS of $0.08, compared to $0.08 in Q2 of last year and $0.06 last quarter

Non-GAAP Financial Measures*

  • Revenue less repair payments of $107.3 million, up 7.1% from $100.2 million in Q2 of last year and up 4.5% from $102.6 million last quarter
  • Adjusted Net Income (ANI) of $12.2 million, compared to $12.0 million in Q2 of last year and $11.1 million last quarter
  • Adjusted diluted earnings per ADS of $0.24, compared to $0.26 in Q2 of last year and $0.22 last quarter

Operations Update

  • Added new delivery locations in Gdynia, Poland and Vizag, India
  • Added 3 new clients in the quarter, expanded 11 existing relationships
  • Days sales outstanding (DSO) at 38 days
  • Global headcount of 25,714 as of September 30, 2012

Reconciliations of the non-GAAP financial measures discussed below to our GAAP operating results are included at the end of this release. See also “About Non-GAAP Financial Measures.”

Revenue less repair payments* of $107.3 million in the second quarter increased 7.1% year-over-year, and 4.5% as compared to the previous quarter, including the acquisition of Fusion, South Africa. Year-over-year, revenue improvement was broad-based and driven by growth in the Retail & CPG, Insurance, Travel and Utilities verticals. Sequentially, revenue growth was also broad-based, with particular strength in the Retail & CPG, Travel and Insurance verticals.

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