Virtusa posts $ 333.2 million revenue in 2013

A global business consulting and IT outsourcing company that combines innovation, technology leadership and industry solutions to transform the customer experience, reported consolidated financial results for the fourth quarter and fiscal year 2013, ended March 31, 2013.

Fourth Quarter Fiscal 2013 Consolidated Financial Results

Revenue for the fourth quarter of fiscal 2013 was $89.9 million, an increase of 4% sequentially and 21% year-over-year in reported currency. On a constant currency basis, fourth quarter revenue increased 5% sequentially and 22% year-over-year.

Virtusa reported income from operations of $9.4 million for the fourth quarter of fiscal 2013, an increase compared to $9.1 million for the third quarter of fiscal 2013, and an increase compared to $7.1 million for the fourth quarter of fiscal 2012. Net income for the fourth quarter of fiscal 2013 was $9.1 million, or $0.35 per diluted share, an increase compared to $7.4 million, or $0.29 per diluted share, for the third quarter of fiscal 2013 and an increase compared to $5.8 million, or $0.23 per diluted share, for the fourth quarter of fiscal 2012.

Kris Canekeratne, Virtusa's Chairman and CEO, said, “The fourth quarter capped off a strong fiscal year 2013 for Virtusa. Our industry leading growth was driven by our ability to provide thought leadership at the intersection of business and technology in the industries we serve.

Our leadership position in Millennial Enablement, regulatory and compliance services, transformational solutions and IT rationalization has been at the core of winning larger engagements and expanding client relationships.