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EPAM Systems Inc Raises FY, Q3 2013 Guidance;

Tuesday, 8 Oct 2013 08:50pm EDT 

EPAM Systems Inc announced that based on current conditions and visibility, EPAM is raising its fiscal 2013 guidance of expected year-over-year revenue growth to $542 million to $545 million from the previously announced 23% to 25% ($533 million to $542 million). Non-GAAP net income growth for fiscal 2013 is now expected to be in the range of 15% to 20% year-over-year from the 12% to 15% anticipated earlier, with an effective tax rate of approximately 19%. For the third quarter of 2013, EPAM is raising revenue guidance to between $139 million and $140 million from the previously announced range of $135 million to $137 million. Third quarter 2013 non-GAAP diluted EPS is now expected to be in the range of $0.42 to $0.43 from the $0.41 to $0.42 anticipated earlier. The Company reported net income of $65.50 million in fiscal 2013. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $541 million and net income of $74.26 million for fiscal 2013; and revenue of $137 million and EPS of $0.41 for the third quarter of 2013. 

Company Quote

-0.08 -0.17%
18 Dec 2014