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Mon, Jun. 27, 3:00 PM
Mon, May 16, 12:51 PM
Mon, May 16, 6:34 AM
- Virtusa (NASDAQ:VRTU): FQ4 EPS of $0.55 beats by $0.11.
- Revenue of $171.85M (+36.4% Y/Y) beats by $1.04M.
Sun, May 15, 5:30 PM
Fri, Feb. 19, 11:15 AM
- Believing the company will beat expectations through 2017 and that its recent selloff is overdone, SunTrust has upgraded Virtusa (VRTU +3.2%) to Buy, albeit while cutting its target by $12 to $40.
- SunTrust also thinks Virtusa's recently-acquired Polaris Indian IT services unit is misunderstood. The upgrade comes with Virtusa having closed on Thursday just $1.09 above a 52-week low of $31.57.
Mon, Feb. 8, 7:35 AM
- Virtusa (NASDAQ:VRTU): FQ3 EPS of $0.54 beats by $0.12.
- Revenue of $150.6M (+22.4% Y/Y) misses by $1.05M.
Sun, Feb. 7, 5:30 PM
Nov. 5, 2015, 3:37 PM
- Virtusa (NASDAQ:VRTU) is buying a majority stake in Polaris Consulting & Services, an Indian IT services provider, for $270M. The deal features a 51.7% stake and a mandatory open offer to buy up to 26% of Polaris' outstanding shares from public shareholders.
- Polaris has 7,650 employees, and produced pro forma revenue of $150M over the six months ending Sep. 30. The deal is expected to close in Virtusa's March quarter, and be financed with both cash and debt. $300M worth of financing commitments have been lined up.
- Polaris is expected to contribute ~$70M in revenue during the March quarter, and be dilutive by $0.08 to non-GAAP EPS (factors $0.07 in dilution from debt interest). The purchase is expected to be slightly dilutive to FY17 (ends March '17) EPS.
- Shares have more than given back the Wednesday gains seen following Virtusa's Q3 beat.
Nov. 4, 2015, 6:34 AM
- Virtusa (NASDAQ:VRTU): FQ2 EPS of $0.37 beats by $0.03.
- Revenue of $143M (+21.5% Y/Y) beats by $1.09M.
Nov. 3, 2015, 5:30 PM
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Jul. 28, 2015, 4:23 PM
- Virtusa (NASDAQ:VRTU): FQ1 EPS of $0.48 beats by $0.03.
- Revenue of $134.8M (+20.1% Y/Y) beats by $0.56M.