AP NEWS

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.

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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