Company Honored for Record-Breaking Sales and Earnings Growth
WESTBOROUGH, Mass – November 7, 2011 – Virtusa Corporation (NASDAQ: VRTU), a global IT services company that offers a broad range of information technology services, including IT consulting, technology implementation, and application outsourcing services, today announced it has been named to Forbes’ list of the “100 Best Small Public Companies in America.” The list recognizes 100 companies across the U.S. that have withstood economic challenges to achieve impressive sales and earnings growth.
To qualify for inclusion, companies must be publicly traded for at least a year, generate annual revenues of between $5 million and $1 billion, and have a stock price of at least $5 per share. The rankings are based on measures that include earnings growth, sales growth, and return on equity in the past 12 months and over five years, as well as stock performance relative to each company's peer group.
For many small companies, the recent global recession has proved to be crippling, making the road to recovery nearly impossible. The Forbes list of America’s 100 Best Public Small Companies represents those companies that have weathered the storm and delivered solid growth results despite the poor economy. Virtusa experienced record-breaking sales and earnings over the past year, posting full year fiscal 2011 revenue of $218 million.
“We are delighted to be recognized on Forbes’ list of 100 Best Small Companies in America,” said Kris Canekeratne, chairman and CEO of Virtusa. “Given that only 100 companies were selected across the country, this recognition is truly an honor. It is testament to the dedication and hard work of our team members who work relentlessly to develop and implement innovative solutions for our clients, in turn enabling us to grow and scale Virtusa.”
Using its enhanced global delivery model, innovative software platforming approach, and industry expertise, Virtusa provides high-value IT services to global companies in a number of different industries, helping them achieve their business goals and objectives. Earlier this year, Virtusa acquired ALaS Consulting, a leading provider of consulting and advisory services to financial services companies, a move that strategically expanded the company’s leading position within the banking and financial services industries (BFS). Bolstered by this acquisition, Virtusa is confident in its ability to experience continued growth in all of the industries it serves. This growth will continue to promote opportunities in the U.S., allowing Virtusa’s clients to do better business and help invigorate the economy.
The full list of Forbes’ 100 Best Small Companies in American can be accessed on Forbes’ website at http://www.forbes.com/best-small-companies/