Key Developments: EPAM Systems Inc (EPAM.N)
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Latest Key Developments (Source: Significant Developments)
EPAM Systems Inc Expands Open-Source Digital Services With Zend And Acquia
EPAM Systems Inc announced that its partnerships with Zend and Acquia, two of the open-source technology companies. For EPAM clients, the partnership provides EPAM with expanded access to the leading Drupal and PHP solutions. With the growing number of Zend Certified developers and experts in open source technologies, EPAM's relationship as a Zend Solution Partner enables the company to extend its software engineering capabilities in the open-source PHP technologies. Partnership with Acquia, a member of the global Drupal community and #1 Enterprise Drupal hosting platform, opens up enhanced opportunities for hosting Enterprise-scale Drupal websites. Full Article
EPAM Systems Inc Reiterates FY 2013 Guidance; Issues Q2 2013 Revenue Guidance Above Analysts' Estimates; EPS Guidance In Line With Analysts' Estimates-Conference Call
EPAM Systems Inc reiterated its fiscal 2013 guidance and expects revenue growth of 23% to 25% over fiscal 2012 results and non-GAAP earnings growth to be in the range of 12% to 15% with a tax rate of approximately 20%. For second quarter of 2013, it expect revenue between $131 million and $133 million and Non-GAAP diluted earnings per share (EPS) to be in the range of $0.38 to $0.40. The Company reported revenue of $433.80 million and net income of $65.50 million in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $535 million for fiscal 2013; and revenue of $128 million and EPS of $0.39 for the second quarter of 2013. Full Article
EPAM Systems Inc Issues FY 2013 Net Income Guidance; Revenue Guidance Above Analysts' Estimates; Issues Q1 2013 EPS Guidance; Revenue Guidance Above Analysts' Estimates-Conference Call
EPAM Systems Inc announced that for fiscal 2013, it expects year-over-year revenue growth in the range of 23% to 25% and Non-GAAP net income growth to be in the range of 12% to 15%. For the first quarter of 2013, it expects revenue between $122 million and $125 million and Non-GAAP diluted earnings per share (EPS) to be in the range of $0.32 to $0.34. The Company reported revenue of $433.80 million and net income of $65.50 million in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $522 million and net income of $76 million for fiscal 2013; and revenue of $118 million and EPS of $0.33 for the first quarter of 2013. Full Article
EPAM Systems Inc Acquires Digital Strategy And Execution Firm, Empathy Lab
EPAM Systems Inc announced it has acquired Empathy Lab, a digital strategy and multi-channel experience design firm. Terms of the transaction were not disclosed. Full Article
EPAM Systems Inc Raises FY 2012 Guidance; Issues Q4 2012 Guidance In Line With Analysts' Estimates-Conference Call
EPAM Systems Inc announced that it is revising its fiscal 2012 revenue outlook to be $423 million to $426 million. This is an increase from its prior guidance of $412 million to $418 million. The Company is also raising its earnings growth expectation to 18% to 20% for fiscal 2012, from 16% to 18% as previously guided. For the fourth quarter of 2012, the Company expects revenues of between $115 million to $118 million and non-GAAP diluted earnings per share (EPS) to be in the range of $0.35 to $0.37 per share. The Company reported EPS of $1.19 in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $420 million and EPS of $1.41 for fiscal 2012; and revenue of $116 million and EPS of $0.37 for the fourth quarter of 2012. Full Article
EPAM Systems Inc Issues Q3 2012 Guidance In Line With Analysts' Estimates; Raises Low End Of Prior FY 2012 Revenue Guidance; Raises FY 2012 EPS Guidance-Conference Call
EPAM Systems Inc announced that for the third quarter of 2012, it expects revenues to be in the range of $107-$109 million, non-GAAP diluted EPS is expected to be in the range of $0.34-$0.36. For fiscal 2012 revenues are expected to be between $412-$418 million, with non-GAAP net income growth in the range of 16%-18%. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $109 million and EPS of $0.34 for the third quarter of 2012; EPS of $1.33 for fiscal 2012. Full Article
EPAM Systems Inc Issues Q2 2012 Guidance In Line With Analysts' Estimates; Reaffirms FY 2012 Guidance-Conference Call
EPAM Systems Inc announced that for the second quarter of 2012, it expects revenues of between $100 million and $102 million and non-GAAP diluted earnings per share (EPS) to be in the range of $0.30 to $0.32. For fiscal 2012, it continue to expect revenues between $411 million and $418 million and earnings growth on a non-GAAP basis to be in the range of 10% to 12% with a tax rate of approximately 17%. The Company reported net income of 53.86 million in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $100 million and EPS of $0.30 for the second quarter of 2012; revenue of $416 million for fiscal 2012. Full Article
EPAM Systems Inc Issues Q1 2012 Guidance; Issues FY 2012 Revenue Guidance; Comments On FY 2012 Net Income Guidance
EPAM Systems Inc announced that for the first quarter of 2012, it expects revenue of between $92 million and $94 million and non-GAAP diluted EPS to be in the range of $0.28 to $0.30. For fiscal 2012, it expects revenue to be between $411 million and $418 million. On a full year basis, it expect non-GAAP net income to be in the range of 10% - 12% with a tax rate of approximately 17%. Full Article
UPDATE 2-Russian software developer Luxoft jumps in NYSE debut
June 26 - Shares of Luxoft Holding Inc, a provider of software and consulting services to companies such as Boeing Co and UBS, soared in their New York debut, mirroring the strong performance of rival Epam Systems Inc last year.
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