Virtusa Corporation has reported consolidated financial results for the third quarter fiscal year 2012, ended December 31, 2011.

Third Quarter Fiscal 2012 Consolidated Financial Results

Revenue for the third quarter of fiscal 2012 was $72.2 million, an increase of 3% sequentially and 30% year-over-year on both a reported and constant currency basis.

Virtusa reported income from operations of $6.6 million for the third quarter of fiscal 2012, an increase compared to $5.5 million for the second quarter of fiscal 2012, and an increase compared to $5.0 million for the third quarter of fiscal 2011. 

Net income for the third quarter of fiscal 2012 was $5.6 million, or $0.22 per diluted share, an increase compared to $4.7 million, or $0.18 per diluted share, for the second quarter of fiscal 2012, and an increase compared to $4.2 million, or $0.17 per diluted share, for the third quarter of fiscal 2011.  Net income for the third quarter of fiscal 2012 included $0.2 million of foreign currency transaction gains. 

The Company ended the third quarter of fiscal 2012 with $79.0 million of cash, cash equivalents, and short-term and long-term investments.  Cash generated from operations was $8.5 million during the third quarter of fiscal 2012. 

ITVoir NewsDesk