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EXL posts 71% increase in revenue in Q 2

EXL posts 71% increase in revenue in Q 2
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First Published: Fri, Aug 10 2007. 10 32 AM IST
Updated: Fri, Aug 10 2007. 10 32 AM IST
New Delhi: Exl Service Holdings, Inc. (Nasdaq: EXLS), a recognized provider of offshore solutions, including business process outsourcing, research and analytics and advisory services, announced its financial results for the quarter ended 30June, 2007.
The company’s financial highlights for Q2 include revenues for the quarter which have increased 71% to $43.0 million from $25.2 million for the correpsonding period in 2006 which comprised 56% organic revenue growth and 15% acquisition-related revenue growth.
Gross margin for the quarter was 33.1% compared to 36.8% in the second quarter of 2006.
Operating margin for the quarter was 6.1% compared to 12.3% in the second quarter of 2006; adjusted operating margin for the quarter, excluding the impact of stock-based compensation expense and amortization of intangibles, was 10.0% compared to 13.1% in the second quarter of 2006.
Net income to common stockholders for the quarter was $5.6 million compared to $1.4 million in the second quarter of 2006; net income to common stockholders for the quarter includes stock-based compensation expense and amortization of intangibles of $1.7 million and $0.2 million in the second quarter of 2007 and 2006, respectively.
Reconciliations of adjusted financial measures to GAAP are included at the end of this release. Vikram Talwar, CEO and Vice-Chairman of EXL, commented, “I am enthusiastic about the continued rapid growth in EXL’s business during the quarter and the strong interest we are seeing from new and existing clients.
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First Published: Fri, Aug 10 2007. 10 32 AM IST