WNS Announces Third Quarter 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 third quarter ended December 31, 2013.

Highlights – Fiscal Third Quarter 2014:

GAAP Financials
  • Revenue of $127.1 million, up 5.8% from $120.2 million in Q3 of last year and up 3.3% from $123.1 million last quarter
  • Profit of $12.2 million, compared to $6.1 million in Q3 of last year and $9.3 million last quarter
  • Diluted earnings per ADS of $0.23, compared to $0.12 in Q3 of last year and $0.18 last quarter

Non-GAAP Financial Measures *
  • Revenue less repair payments of $119.6 million, up 5.4% from $113.5 million in Q3 of last year and up 3.7% from $115.4 million last quarter
  • Adjusted Net Income (ANI) of $19.8 million, compared to $14.0 million in Q3 of last year and $17.2 million last quarter
  • Adjusted diluted earnings per ADS of $0.38, compared to $0.27 in Q3 of last year and $0.33 last quarter

Other Metrics
  • Added 4 new clients in the quarter, expanded 8 existing relationships
  • Days sales outstanding (DSO) at 31 days
  • Global headcount of 26,578 as of December 31, 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 third quarter was $119.6 million, representing a 5.4% increase versus the third quarter of last year and a 3.7% increase from the previous quarter. Year-over-year, revenue improvement was broad-based with the growth rate paced by strength in the Banking & Financial Services, Utilities, Shipping & Logistics, and Insurance verticals. On a year-over-year basis, revenue was pressured by currency headwinds resulting from depreciation in the South African rand and Australian dollar against the US dollar. Sequentially, revenue was favorably impacted by appreciation in the British Pound against the US dollar. Excluding exchange rate impacts, constant currency revenue less repair payments* in the third quarter grew 6.0% year-over-year and 1.1% sequentially.

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