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Press Release

October 25, 2004

Virtusa Announces Record Second Quarter Results

Company Reports Its Thirteenth Consecutive Quarter of Growth

Westborough, Mass. – Oct 25, 2004 – Virtusa Corporation, a global provider of software development and related IT services, today reported its second quarter results ending September 30, 2004.

  • Virtusa continued its revenue and headcount growth in Q2 2004, making the second quarter Virtusa’s thirteenth consecutive quarter of quarter over quarter growth in both categories;
  • Virtusa initiated eight new client relationships and expanded its client base in vertical industries such as Financial Services, Communications, Retail, and Software Products.

“Companies are constantly looking for ways to improve their profitability and effectiveness through IT consolidation and rationalization,” said Kris Canekeratne, Chairman and CEO of Virtusa. “Virtusa’s highly differentiated capabilities in building agile, mission critical software platforms have helped our clients achieve those goals and have been the key driver to our continued growth.”

Virtusa designs and develops custom-built software platforms that meet a client’s specific needs. By harvesting and consolidating the existing assets and creating new assets that are leveraged across multiple initiatives, Virtusa enables IT organizations to reduce their operational costs and increase business agility.

“Virtusa’s consistent track record is due to our world-class team of software professionals who are so dedicated to create client delight through thought leadership and delivery execution. We look forward to broadening our portfolio of innovative services and deepening our client relationships,” added Canekeratne.

 

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:

Alex Nickols
Edelman
+1 (415) 430-8056
Alex.Nickols@edelman.com

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