BIZ-TECH

Virtusa reports US $ 52.7 m in revenue

Second quarter fiscal 2011 revenue of $ 52.7 million increased 40 percent year-over-year Second quarter fiscal 2011 EPS was $ 0.15 compared to $0.12 in the second quarter fiscal 2010.

Commenced work with 7 new clients; Active client base increases to 76 Raising fiscal year 2011 revenue guidance

Virtusa Corporation a global information technology (IT) services company that provides IT consulting, technology implementation and application outsourcing services through an enhanced global delivery model, reported financial results for the second quarter fiscal year 2011, ended September 30, 2010.

Revenue for the second quarter of fiscal 2011 was $ 52.7 million, an increase of 40 percent year-over-year and 2 percent sequentially.

On a constant currency basis (1), second quarter fiscal 2011 revenue increased 42 percent year-over-year and 1 percent sequentially.

Virtusa reported income from operations of $ 4.0 million for the second quarter of fiscal 2011, an increase compared to $ 3.2 million for the second quarter of fiscal 2010, and an increase compared to $3.1 million for the first quarter of fiscal 2011.

Net income for the second quarter of fiscal 2011 increased to $ 3.7 million, or $0.15 per diluted share, compared to $ 3.0 million, or $ 0.12 per diluted share, for the second quarter of fiscal 2010, and $ 3.1 million, or $ 0.13 per diluted share, for the first quarter of fiscal 2011.

The company ended the second quarter of fiscal 2011 with $ 95.0 million of cash, cash equivalents, short-term investments and long-term investments (2). The Company generated cash from operations of $ 7.0 million during the second quarter of fiscal 2011.

Virtusa's Chairman and CEO Kris Canekeratne said, this was another solid quarter for Virtusa, driven primarily by increased contributions from the high quality clients they have added over the last 18 months.

"These clients are ramping faster and contributing greater revenue as they realize the benefits of our value proposition and our ability to accelerate their business outcomes," Canekeratne said. Westborough, MA

Debug re-defines service concept

"Twenty years since Debug entered the business a key factor which has contributed immensely to the Group's success is the Engineering Team," Engineering and Customer Services Senior General Manager Niranjan Alles said.

"Since moving into our own corporate headquarters along Marine Drive at Wellawatte in 2001, we revolutionalised the service industry by setting up unparalleled service standards," he said.

Debug provides services for Epson printing equipment, APC-MGE UPS Systems, Kenwood Radio Communication Equipment, D-LINK Network Products and Professional Audio and Video Products such as JBL, Nakamichi and Crown which are marketed by the Debug Group.

"We have the necessary expertise to carry out component level repairs of circuit boards which inturn helps us to carry out cost-effective repairs," he said. "Surprisingly, many of our customers consist of those who have purchased other brands of equipment elsewhere, but come to us as they find it difficult to obtain the same level of professional service, we offer," Alles said.

Debug uses only Genuine spareparts for all repairs carried out by them.

With fully-fledged Service Centres at their head office and at each of our showrooms located islandwide, they are confident of the capability to provide excellent service to the customers.

Digital agency 230i achieves international accolade

230 Interactive Pvt. Ltd. (230i), the first digital marketing and development agency in Sri Lanka, was recognised for its creative excellence and innovative solutions, at this year's W3 Awards.

A rare feat achieved by a Sri Lanka digital agency, 230i won the silver award in the Hotel and Lodging category for the development of the website www.johnkeellshotels.com.

A prestigious awards ceremony sanctioned and judged by the International Academy of Visual Arts, a body consisting of top executives from the media, interactive, advertising and marketing firms worldwide, it honours the best of the best in the field. Outstanding websites, web marketing, web video and mobile apps created by interactive agencies, designers and creators from around the world are recognised at the awards.

230i was picked from over 3,000 applications received this year, demonstrating the company's high standard of excellence and ability to produce world-class creative solutions.

Co-founded by Sanjay Mendis and Mugunthan Balakrishnan, 230i is committed to providing digital brand communications solutions encompassing strategy, design, business and marketing. Their primary focus is placed on online branding and architecture when providing solutions which sets them apart from the traditional web development companies.

"www.johnkeellshotels.com, which represents our corporate umbrella has been an important cog is our overall e-sales strategy," said Sector Head Sri Lanka resorts for the John Keells Hotels Group, Jayantissa Kehelpannala said.

"We congratulate 230i on this excellent achievement and thank them for their valued partnership."

Motorola fires back against Microsoft in patent dispute

Motorola, the target of a patent lawsuit by Microsoft, fired back against the US software giant with a patent infringement complaint of its own on Wednesday.

Motorola said its subsidiary, Motorola Mobility, has filed suit against Microsoft in US District Courts in Florida and Wisconsin alleging infringement of 16 Motorola patents.

Motorola accused Microsoft of patent infringement in its personal computer and server software, its Windows Mobile operating system and the Xbox videogame console.

Motorola's action came a day after Microsoft filed suit against Motorola in Washington state accusing the US handset maker of demanding "excessive and discriminatory" royalties related to patented technology.

Motorola said it had asked the courts in Florida and Wisconsin to stop Microsoft from using Motorola's patented technology and provide compensation for past infringement. AFP