WNS (Holdings) Ltd. (WNS: Quote), Wednesday, reported a sharp decline in profit for the fourth quarter as revenues dropped 28.9 percent. The company also provided a guidance for fiscal 2013.
The India-based company reported a fourth-quarter net profit of $4.4 million or $0.09 per ADS, compared to $8.8 million or $0.19 per ADS last year.
Adjusted net income for the quarter declined to $13.2 million or $0.27 per ADS from $18.2 million or $0.40 per ADS in the prior-year quarter. On average, 11 analysts polled by Thomson Reuters expected the company to earn $0.25 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter dropped 28.9 percent to $113.3 million from $159.5 million in the prior-year quarter.
For the quarter, revenue less repair payments, a non-GAAP measure, rose 5.9 percent to $99.8 million from $94.3 million in the prior-year quarter. Nine analysts had a consensus revenue estimate of $96.93 million for the quarter.
Looking ahead, the company expects full-year 2013 net income to range between $49 million and $53 million. Revenues less repair payments for the year are anticipated in the range of $410 million and $430 million. Analysts currently expect earnings of $1.05 per share for the year, with revenues of $422.52 million.
by RTT Staff Writer
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