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Press Release

July 20, 2004

Virtusa Achieves its Twelfth Consecutive Quarter of Growth

Company Reports 78% Quarterly Revenue Increase from the Same Quarter Last Year

Westborough, Mass. – July 20, 2004 – Virtusa Corporation, a global provider of software development and related IT services, today reported its first quarter results ending June 30, 2004.

Highlights from the past twelve months include the following:

  • Virtusa posted its twelfth consecutive quarter of revenue and headcount growth
  • The first quarter revenue increased by 78% compared to the same quarter last year
  • Virtusa continued to expand its strong client base in Financial Services, Communications, Retail, and Software Products.

“We achieved record performance in the first quarter of our fiscal year, thanks to the dedicated efforts of our global team. Once again, the entire team achieved quarter-on-quarter growth by expanding relationships with our strategic accounts and acquiring new client accounts,” said Kris Canekeratne, Chairman and CEO of Virtusa. “In addition, we continued to see our Productization value proposition resonate with our clients who wanted to consolidate their existing silos of applications into agile, custom-built platforms. Through such IT asset consolidation and rationalization, Virtusa is helping businesses reduce their total cost of ownership and stimulate their revenue generation capabilities.”

 

About Virtusa

Virtusa Corporation is a global provider of digital business strategy, digital engineering, and information technology (IT) services and solutions that help clients change, disrupt, and unlock new value through innovative engineering. Virtusa serves Global 2000 companies in Banking, Financial Services, Insurance, Healthcare, Communications, Media, Entertainment, Travel, Manufacturing, and Technology industries.

Virtusa helps clients grow their business with innovative products and services that create operational efficiency using digital labor, future-proof operational and IT platforms, and rationalization and modernization of IT applications infrastructure. This is achieved through a unique approach blending deep contextual expertise, empowered agile teams, and measurably better engineering to create holistic solutions that drive the business forward at unparalleled velocity enabled by a culture of cooperative disruption.

Virtusa is a registered trademark of Virtusa Corporation.  All other company and brand names may be trademarks or service marks of their respective holders.

 

Media Contact:

Matt Berry
Conversion Marketing
(201) 370-9133
matt@conversionam.com

Media Contact: 
Susan Hartzell/Liz Brady
Integrated Corporate Relations 
(203) 682-8200
sswadia@Virtusa.com 
liz.brady@icrinc.com

 

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