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Virtusa issues fiscal Q1'19 outlook

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Virtusa issues fiscal Q1'19 outlook

Virtusa Corp. has provided financial guidance for its fiscal first quarter and fiscal year 2019.

For its fiscal first quarter, the company projects revenue in the range of $293.5 million to $301.5 million, GAAP EPS of 9 cents to 13 cents and non-GAAP EPS of 45 cents to 51 cents.

The S&P Capital IQ consensus normalized EPS estimate for the company's fiscal first quarter 2019 is 42 cents.

For fiscal year 2019, revenue is expected to be in the range of $1.23 billion to $1.27 billion. GAAP EPS is projected to be in the range of 50 cents to 66 cents, while non-GAAP EPS is expected to be in the range of $2.08 to $2.32.

The S&P Capital IQ consensus normalized EPS estimate for fiscal year 2019 is $2.23.

The company also provided results for the 2018 fiscal fourth quarter ended March 31, reporting non-GAAP net income available to common shareholders of $17.2 million, or 55 cents per share, compared with $12.9 million, or 43 cents per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal fourth quarter was 55 cents.

For fiscal year 2018, the company had non-GAAP net income available to common shareholders of $49.5 million, or $1.63 per share, compared with $37.6 million, or $1.25 per share, in the prior year.

The S&P Capital IQ consensus normalized EPS estimate for the fiscal year was $1.63.