ExlService Holdings Inc. (NASDAQ: EXLS) said Thursday its second-quarter profit dropped more than 50 percent, as revenue fell almost 10 percent.
WPPS, a leading financial publication, is pleased to alert investors of stocks on the move. Sign Up for our Free Stock Newsletter
However, the outsourcing company’s financial results still met Wall Street estimates, according to Associated Press.
Net income in the three-month period ended in June fell to nearly $1.3 million, or 4 cents per share, from $5.3 million, or 18 cents per share, in the year-earlier period.
Excluding results from discontinued businesses in the year-ago quarter, the company earned $2.6 million, or 9 cents a share, in the second quarter last year.
Revenue fell to about $42.4 million from $47 million in the prior year period.
Analysts surveyed by Thomson Reuters expected earnings per share of 4 cents on revenue of $41.5 million. The estimates typically exclude items.
Shares fell on the news, dropping 56 cents, or 4.2 percent, to $12.70 in afternoon trading Wednesday.
The company maintained its fiscal 2009 guidance, saying it expects revenue to range from $170 million to $175 million, which would be a decline of 3.7 percent to 6.4 percent from 2008.
Wall Street analysts expect revenue of $172.2 million.
Sign Up for WPPS’s Free Small Cap Newsletter! To subscribe please enter your email address in the frame at the bottom of this page or visit us at our website.
Subscribe at the bottom of this page.
About Us
WePickPennyStocks is a leading stock web site that provides free stock alerts on stocks that are poised to make big gains. We also track small cap companies that could be on the brink of a massive breakout. To feature a company on our web site please contact us at the email listed below.
WPPS is an independent electronic publication that provides information on selected publicly traded companies. This publication is not a registered investment advisor or broker-dealer. Our affiliates, officers, directors and employees may buy and sell additional shares in any company mentioned herein and may profit in the event those shares rise in value. Please do your own Due Diligence before investing in any of the stocks mentioned above. View our full disclaimer.
