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WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global Business Process Outsourcing (BPO) services, today announced results for the 2014 fiscal first quarter ended June 30, 2013.
Highlights – Fiscal First Quarter 2014:
Revenue of $122.1 million, up 13.3% from $107.8 million in Q1 of last year and up 2.5% from $119.2 million last quarter
Profit of $6.7 million, compared to $2.8 million in Q1 of last year and $8.2 million last quarter
Diluted earnings per ADS of $0.13, compared to $0.06 in Q1 of last year and $0.16 last quarter
Non-GAAP Financial Measures*
Revenue less repair payments of $113.8 million, up 10.9% from $102.6 million in Q1 of last year and up 0.9% from $112.8 million last quarter
Adjusted Net Income (ANI) of $14.4 million, compared to $11.1 million in Q1 of last year and $15.8 million last quarter
Adjusted diluted earnings per ADS of $0.28, compared to $0.22 in Q1 of last year and $0.30 last quarter
Added 6 new clients in the quarter, expanded 14 existing relationships
Days sales outstanding (DSO) at 31 days
Global headcount of 26,178 as of June 30, 2013
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* in the fiscal first quarter were $113.8 million, representing a 10.9% increase versus the first quarter of last year and a 0.9% increase from the previous quarter. Year-over-year, revenue improvement was broad-based with the growth rate paced by strength in the Utilities, Banking & Financial Services, and Retail & CPG verticals. Revenue expanded despite currency headwinds from the average GBP/$ exchange rate, which depreciated 3.0% versus Q1 of last year and 1.2% sequentially. Excluding exchange rate impacts, constant currency revenue* in the first quarter grew 12.6% year-over-year and 1.6% sequentially.