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WNS Announces Fourth Quarter And Full Year Fiscal 2014 Earnings

WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of global Business Process Management (BPM) ** services, today announced results for the 2014 fiscal fourth quarter and full year ended March 31, 2014.

Highlights – Fiscal Fourth Quarter 2014:

GAAP Financials

  • Revenue of $130.3 million, up 9.3% from $119.2 million in Q4 of last year and up 2.4% from $127.1 million last quarter
  • Profit of $13.4 million, compared to $8.2 million in Q4 of last year and $12.2 million last quarter
  • Diluted earnings per ADS of $0.25, compared to $0.16 in Q4 of last year and $0.23 last quarter

Non-GAAP Financial Measures*

  • Revenue less repair payments of $122.7 million, up 8.9% from $112.8 million in Q4 of last year and up 2.6% from $119.6 million last quarter
  • Adjusted Net Income (ANI) of $20.9 million, compared to $15.8 million in Q4 of last year and $19.8 million last quarter
  • Adjusted diluted earnings per ADS of $0.40, compared to $0.30 in Q4 of last year and $0.38 last quarter

Other Metrics

  • Added 5 new clients in the quarter, expanded 6 existing relationships
  • Days sales outstanding (DSO) at 30 days
  • Global headcount of 27,020 as of March 31, 2014

 

 

Highlights – Fiscal Full Year 2014:

GAAP Financials

  • Revenue of $502.6 million, up 9.2% from $460.3 million in fiscal 2013
  • Profit of $41.6 million, compared to $21.4 million in fiscal 2013
  • Diluted earnings per ADS of $0.79, compared to $0.41 in fiscal 2013

Non-GAAP Financial Measures*

  • Revenue less repair payments of $471.5 million, up 8.1% from $436.1 million in fiscal 2013
  • Adjusted Net Income (ANI) of $72.4 million, compared to $53.1 million in fiscal 2013
  • Adjusted diluted earnings per ADS of $1.37, compared to $1.03 in fiscal 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 fourth quarter was $122.7 million, representing an 8.9% increase versus the fourth quarter of last year and a 2.6% increase from the previous quarter. Year-over-year, revenue improvement was broad-based with the growth rate paced by strength in the Shipping & Logistics, Utilities, Insurance (including Autoclaims) and Banking & Financial Services verticals. On both a year-over-year and sequential basis, revenue favorability resulting from appreciation in the British Pound against the US dollar was partially offset by depreciation in the South African rand and Australian dollar against the US dollar. Excluding exchange rate impacts, constant currency revenue less repair payments* in the fourth quarter grew 7.8% year-over-year and 1.8% sequentially.

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