Virtusa Corporation (NASDAQ:VRTU) Q1 2018 Earnings Conference Call - Final Transcript

Aug 08, 2017 • 08:00 am ET

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Virtusa Corporation (NASDAQ:VRTU) Q1 2018 Earnings Conference Call - Final Transcript

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Presentation
Executive
Ranjan Kalia

26.6% for the remainder of fiscal year compared to the prior guidance of 25.3%. Our current guidance anticipates we will record minority interest expense of approximately $6.3 million for FY '18, which is $700,000 higher than our prior guidance. The midpoint of our current non-GAAP EPS guidance is unchanged from our prior guidance.

For FY '18, our higher revenue outlook coupled with research optimization initiatives and stock buybacks are expected to offset headwinds from the increased off-site effort, higher tax rate and increased minority interest. As a reminder, our guidance anticipates no material changes to current visa legislation or corporate tax laws. In conclusion, we're off to a solid start to fiscal year 2018. We delivered first quarter revenue at the high end of our guidance, strong year-over-year margin accretion and EPS growth. We expect to deliver strong sequential revenue and EPS growth in the second quarter and we have raised our full year 2018 revenue guidance.

I will now turn the call over to the operator to begin Q&A. Thank you.