AP NEWS

Epam: 2Q Earnings Snapshot

August 2, 2018

NEWTOWN, Pa. (AP) _ Epam Systems Inc. (EPAM) on Thursday reported second-quarter net income of $50.3 million.

On a per-share basis, the Newtown, Pennsylvania-based company said it had net income of 89 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to $1.01 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.

The information technology services provider posted revenue of $445.6 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $447.9 million.

For the current quarter ending in October, Epam expects its per-share earnings to be $1.04.

The company said it expects revenue in the range of $466 million for the fiscal third quarter.

Epam expects full-year earnings to be $4.11 per share.

Epam shares have increased 22 percent since the beginning of the year. The stock has climbed 53 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

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