WESTBOROUGH, Mass – May 30, 2012 – 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, today announced that it has been named to the Boston Globe’s Globe 100 List, a prestigious ranking of the best-performing publicly-traded corporations in Massachusetts.
This is the first year since 2009 that a full 100 companies qualified for the prestigious listing, up from only 82 companies in 2010, illustrating the resurgence of the Massachusetts economy. Virtusa was ranked 42 and honored as a company helping to drive this resurgence.
“The positive momentum we are seeing in the economic recovery is illustrated by the Globe 100 returning to full strength,” said Shirley Leung, Boston Globe business editor. “It’s a powerful testament to the resiliency of Massachusetts’ businesses.”
The Globe 100, now in its 24th year, ranks Bay State companies based on how well they increased sales, profits and returns for shareholders. The 2012 Globe 100 honors companies that delivered exceptional financial results during 2011. This year’s list is unique in that it represents those Massachusetts companies that have weathered the global recession and are now are driving rejuvenation of the economy.
“We are delighted to be recognized on Boston Globe’s Globe 100 List given that Massachusetts is home to countless innovative and progressive companies,” said Kris Canekeratne, chairman and CEO of Virtusa. “Year after year Virtusa continues to experience solid growth because of our strategic focus on helping clients accelerate their business outcomes, innovate, launch new products and services and improve IT efficiencies. It is an honor to be ranked in the Globe 100 and play a role in the resurgence of the Massachusetts economy.”
About the Globe 100 ranking methodology
The Globe 100 ranks Massachusetts-based public companies based on financial data from the four quarters ending December 31, 2011. To be eligible, the company must be traded publicly for the entire 2011 calendar year on the New York Stock Exchange, the Nasdaq or the American Stock Exchange and report revenue and profit for both 2010 and 2011. Companies are ranked on four criteria: return on average equity, one-year percentage change in revenue, one-year percentage change in profit margin and 2011 revenue.
About The Boston Globe
The Boston Globe is wholly owned by the New York Times Company (NYSE: NYT), a leading global multimedia news and information company with 2011 revenues of $2.3 billion, that includes The New York Times, the International Herald Tribune, The Boston Globe, NYTimes.com, BostonGlobe.com, Boston.com, About.com and related properties. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.