Maxim Group Upgrades Virtusa (VRTU) to Buy
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Virtusa Announces Second Quarter 2018 Consolidated Financial Results
November 8, 2017 6:30 AM ESTSecond quarter fiscal 2018 revenue of $248.2 million increased 9.2% sequentially and 18.1% year-over-year. Second quarter fiscal 2018 GAAP operating income of $10.3 million, up 69% sequentially, and non-GAAP operating income of $19.8 million, up 48% sequentially. Second quarter fiscal 2018 GAAP diluted EPS was $0.12, up 20% sequentially and 9% year-over-year. Non-GAAP diluted EPS was $0.35, up 40% sequentially and 30% year-over-year. Generated $28.8 million of cash from operating activities during the second quarter of fiscal 2018, representing 11.6% of revenue. Commenced delisting process for Polaris Consulting & Services, Ltd.
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