Virtusa Q3 results healthy

Virtusa Corporation has reported sound financial results for the third quarter of fiscal year 2011, ended December 31, 2010.

Virtusa’s Chairman and CEO Kris Canekeratne said they are pleased with third quarter performance which was driven by broad based growth.

“We are enthusiastic about the increasing investment in areas such as cloud, social and mobile computing. This is necessitating programs to rationalize IT applications, accelerate time to market and improve the consumer experience.

Our expertise positions us well to partner with our clients and lead them through this transformation,” he said. Revenue for the third quarter of fiscal 2011 was $55.6 million, an increase of 33 percent year-over-year and six percent sequentially. On a constant currency basis (1), third quarter fiscal 2011 revenue increased 34 percent year-over-year and five percent sequentially.