Luxoft Holding, Inc. announced results for period ended September 30, 2016

BVI-registered software company Luxoft Holding, Inc. reported financial results for the three and six months ended September 30, 2016. For three months period, US GAAP revenue was US$196.5mln; earnings before interest, tax, depreciation and amortization (EBITDA) adjusted for stock based compensation, acquisition related costs and change in fair value of contingent consideration was US$37.4mln. Operating income increased 15.1% sequentially, generating 9.6% margin on a US GAAP basis (9.2% in the previous quarter of 2016). Diluted earnings per share on a US GAAP basis was US$0.48, and US$0.62 on a non-GAAP basis (in the previous quarter of the year US$0.42 and US$0.62, respectively).

For the six months ended September 30, 2016, US GAAP revenue reported by Luxoft Holding was US$374.5mln, which is a year over year increase of 21.0% on the reporting currency basis. Adjusted EBITDA increased 4.5% as compared to the previous year to US. Operating income amounted to US$35.3mln. For the six months period, diluted EPS on a US GAAP basis was US$0.90, and on a non-GAAP basis it was US$1.44.

In the last three months the company added seven high potential accounts (HPAs) from telecom, automotive and healthcare sectors. For the six months ended September 30, 2016, telecom, automotive and transport, and financial services were the strongest performers, providing 61.4%, 54.6%, and 13.5% of revenue growth respectively, compared to the first six months of last year.

For the year ending March 31, 2017, the BVI holding company expects revenue to be at least US$781mln, which is at least 20% higher than the previous year. Diluted EPS is expected to be at least US$2.85.

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