NEWTOWN, Pa. (AP) — NEWTOWN, Pa. (AP) — Epam Systems Inc. (EPAM) on Thursday reported fourth-quarter net income of $155 million.
The Newtown, Pennsylvania-based company said it had profit of $2.61 per share. Earnings, adjusted for one-time gains and costs, came to $2.93 per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.68 per share.
The information technology services provider posted revenue of $1.23 billion in the period, which met Street forecasts.
For the year, the company reported profit of $419.4 million, or $7.09 per share. Revenue was reported as $4.82 billion.
For the current quarter ending in March, Epam expects its per-share earnings to range from $2.30 to $2.38.
The company said it expects revenue in the range of $1.2 billion to $1.21 billion for the fiscal first quarter.
Epam expects full-year earnings in the range of $11.15 to $11.35 per share, with revenue expected to be $5.25 billion.
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