August 1, 2011
Virtusa Posts Quarterly Profit
By Brandon Butler
Virtusa, the Westborough-based IT solutions company, reported a $4 million profit on $61 million of revenue during the first quarter of the company's fiscal year, which ended on June 30.
Revenues for the company increased 19 percent compared to the same quarter last year, but were up only 5 percent compared to the previous quarter.
Profits were up from $3.1 million during the first quarter of 2011, but dropped compared to the $5.2 million profit the company made in the fourth quarter.
Foreign currency exchange rates negatively impacted the company's results by $200,000 during the quarter. The company also closed its $28 million acquisition of New York-based Alas Consulting.
WBJ Web Partners
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