Virtusa Announces Second Quarter Fiscal 2011 EPS of $.15

Virtusa Corporation (NASDAQ: VRTU) today reported financial results for the second quarter fiscal year 2011, ended September 30, 2010. Second Quarter Fiscal 2011 Financial Results Revenue for the second quarter of fiscal 2011 was $52.7 million, an increase of 40% year-over-year and 2% sequentially. On a constant currency basis (1), second quarter fiscal 2011 revenue increased 42% year-over-year and 1% sequentially. Virtusa reported income from operations of $4.0 million for the second quarter of fiscal 2011, an increase compared to $3.2 million for the second quarter of fiscal 2010, and an increase compared to $3.1 million for the first quarter of fiscal 2011. Net income for the second quarter of fiscal 2011 increased to $3.7 million, or $0.15 per diluted share, compared to $3.0 million, or $0.12 per diluted share, for the second quarter of fiscal 2010, and $3.1 million, or $0.13 per diluted share, for the first quarter of fiscal 2011. The Company ended the second quarter of fiscal 2011 with $95.0 million of cash, cash equivalents, short-term investments and long-term investments (2). The Company generated cash from operations of $7.0 million during the second quarter of fiscal 2011.