ExlService Holdings beats Q3 estimates, raises FY07 guidance
ExlService Holdings, Inc. (Nasdaq: EXLS) shares are up slightly in morning trading after the business outsourcing provider’s third-quarter revenue rose 31% to $46.6 million, above analyst estimates of $44 million and compared with $35.7 million a year earlier.
“EXL performed extremely well this quarter and established new relationships with seven clients including three in specific areas of strategic focus,” CEO Vikram Talwar said in a statement. “Our hiring in sales and marketing continues to be strong as we execute our plan for talent acquisition to facilitate long-term growth.”
The New York City-based firm’s quarter profit increased 44% to $6.2 million, or $0.21 per share, higher than Wall Street projections of $0.19 per share and compared with $4.3 million, or $0.19 per share, during the prior-year period.
As a result of strong third-quarter results, the company also raised its 2007 revenue guidance to a range of $176 million to $178 million, from a previous range of $168 million to $172 million. Wall Street analysts, on average, are expecting $172 million in revenue.
In morning trading, EXLS shares are up 5.08%, or $1.16, at $24.01. Over the last 52 weeks, shares have ranged from $15.49 to $29.24.
