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Press Release

July 16, 2013

Virtusa Ranked in Globe 100 List as One of Massachusetts Best-Performing Corporations

WESTBOROUGH, Mass., – (July 16, 2013) &ndndash; Virtusa Corporation (NASDAQ: VRTU), a global IT services company that combines innovation, technology leadership and industry solutions to transform the customer experience, today announced that it is ranked in the 25th annual Boston Globe “Globe 100 List” for the second consecutive year. Each year, The Globe 100 ranks Massachusetts companies based on how well they increased sales, profits and returns for shareholders in the previous year. Virtusa was ranked number 27 on the list, moving up 15 spots from 2012 when it was ranked number 42.

“We are delighted to be recognized for the second consecutive year among Massachusetts’ best performing companies,” said Kris Canekeratne, chairman and CEO of Virtusa. “The Globe 100 recognition validates Virtusa’s leadership role in helping our clients transform their businesses, improve their consumer experience and launch millennial products and services. Our strong growth is a direct result of the confidence and trust our clients have placed in Virtusa coupled with the extraordinary commitment and dedication of our global account teams who work passionately to accelerate the launch of new products and services.”

The 25th annual Globe 100 honors companies that delivered exceptional financial results during 2012. This year’s list includes Massachusetts’ best-performing companies – organizations that contributed substantially to the resurgence and well-being of the local Massachusetts economy. The list continues to be dominated by the technology, biotechnology and telecommunications sectors.

“As it always has, the Globe 100 list reflects the dynamic nature of business not only in Massachusetts but also the world,” said Steve Syre, Boston Globe business columnist and editor of the 2013 Globe 100 Magazine. “Several companies on this year’s list did not even exist when it debuted in 1989. In fact, it’s quite possible those companies employ people who weren’t even born in 1989.”

As a top-performing Massachusetts company, Virtusa has garnered a reputation for implementing innovative programs and practices in order to engage its Millennials, who make up 86 percent of its global workforce. Virtusa regularly solicits feedback from team members through surveys, hands out monthly and quarterly awards, uses a Communications Framework platform to improve communication between team members and its leadership team, and has built a custom internal social network where Virtusans can interact and collaborate.

The annual ranking of companies appeared in a magazine published in The Boston Sunday Globe on May 19, 2013 and can be seen at http://www.bostonglobe.com/Page/Boston/2011-2020/WebGraphics/Business/BostonGlobe.com/2013/05/globe100/globe100.xml.


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, 2012. To be eligible, the company must be traded publicly for the entire 2012 calendar year on the New York Stock Exchange, the Nasdaq or the American Stock Exchange and report revenue and profit for both 2011 and 2012. Companies are ranked on four criteria: return on average equity, one-year percentage change in revenue, one-year percentage change in profit margin and 2012 revenue.

*All of the data and rankings were supplied by Standard & Poor's Capital IQ. For companies following a non-calendar fiscal year, S&P Capital IQ matches up appropriate SEC quarterly filings to assemble a set of calendar-based numbers.


About The Boston Globe:
The Boston Globe is wholly owned by The New York Times Company, a leading global, multimedia news and information company with 2012 revenues of $2.0 billion, includes The New York Times, the International Herald Tribune, The Boston Globe, NYTimes.com, BostonGlobe.com, Boston.com and related properties. The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news and information.

 

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

Contacts
Jessica Boardman
Global Head of Media Relations Communications
(617) 275-6514
jboardman@greenoughcom.com

 

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