Epam: 4Q Earnings Snapshot

February 14, 2019

NEWTOWN, Pa. (AP) _ Epam Systems Inc. (EPAM) on Thursday reported fourth-quarter net income of $60 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Newtown, Pennsylvania-based company said it had net income of $1.05. Earnings, adjusted for one-time gains and costs, came to $1.27 per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.

The information technology services provider posted revenue of $504.9 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $501.1 million.

For the year, the company reported profit of $240.3 million, or $4.24 per share. Revenue was reported as $1.84 billion.

For the current quarter ending in April, Epam expects its per-share earnings to be $1.16.

The company said it expects revenue in the range of $518 million for the fiscal first quarter.

Epam expects full-year earnings to be $5.06 per share.

Epam shares have climbed 29 percent since the beginning of the year. The stock has climbed 35 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EPAM at https://www.zacks.com/ap/EPAM