Earnings per share for the second quarter of fiscal 2009 reflects a 5% year-over-year increase in diluted shares outstanding primarily due to the successful completion of the company’s initial public offering in August 2007.
Revenue increased 9% year-over-year and 3% sequentially, to $44 million, in the second quarter of fiscal 2009. On a constant currency basis, which converts current period revenue using the corresponding prior period’s foreign exchange rates, revenue increased 13% year-over-year and 6% sequentially.
Virtusa reported income from operations of approximately $0.7 million for the second quarter of fiscal 2009, compared to $4.7 million for the second quarter of fiscal 2008 and break even in the first quarter of fiscal 2009.
Kris Canekeratne, chairman and CEO of Virtusa, said: We are pleased with our second quarter performance which was driven by our established clients expanding with us and by increased contribution from new clients we have added over the past year.
