May 10, 2012 | last updated May 11, 2012 11:41 am

Virtusa's Revenue Up 27 Percent In FY 2012

Westborough IT services company Virtusa Corp. saw its revenues rise 27 percent year-over-year to $74.2 million in the fourth quarter of fiscal year 2012.

Its profits rose 12 percent for the quarter, to $5.8 million.

For the full 2012 fiscal year, Virtusa made a $20 million profit on revenues of $277.8 million. That's a 23 percent increase in profit and a 27 percent rise in revenue compared with fiscal 2011.

The company said its growth came from a broad base of different industries and geographies as it diversified its client base.

Virtusa's board of directors also authorized a share repurchase program of up to $15 million over the next 12 months.

The company says it expects its revenue for the first quarter of fiscal 2013 to be between $75 and $77 million. For the full year, it's predicting revenue between $314 and $330 million.


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