Virtusa lowers Q1 guidance below the Street
Information technology services company Virtusa Corp. (Nasdaq:VRTU) this morning lowered fiscal 2009 first-quarter guidance below the consensus on Wall Street. The Westborough, Mass.-based company said the primary reason for its revenue and earnings shortfall was that business at British Telecommunications was negatively impacted late in the quarter. Increased expenses for onsite contractors and foreign currency transaction losses also contributed to the decline.
Virtusa will release its full first quarter 2009 financial results on July 30, 2008.
Shares were halted in pre-market trading. For detailed price information and recent news stories on Virtusa, click VRTU.
