BVI-incorporated Luxoft Holding, Inc. announced its results for the three months and full financial year ended March 31, 2016. For the quarter period, BVI company’s revenue was US$169.2mln, a 23.2 per cent increase from US$137.4mln in the same quarter of 2015, and a 1.6 per cent decrease from the previous quarter of 2016, which reflects the normal seasonality of the business. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were US$26.5mln with corresponding margins of 15.7 per cent, as compared to US$19.8mln and 14.4 per cent in the same quarter last year. Non-GAAP net income was US$18.8mln, or US$0.56 per diluted share, compared to US$15.1mln and US$0.46 per diluted share for the same period last year.
For the full financial year ended March 31, 2016, Luxoft’s revenue increased to US$650.8mln, a 25 per cent increase from US$520.5mln in the previous year. Non-GAAP net income reported by the company was US$92.9mln, or US$2.72 per diluted share, as compared to US$75.4mln and US$2.28 per diluted share in 2015. The company’s balance sheet remained strong, being supported by operating cash flows increase of 38.2 per cent compared to the previous year, free cash flow increase to 12.3 per cent of revenue, and absence of long-term debt. Of six areas of company’s focus, five had revenue growth in the reported year, the strongest ones being Automotive and Transport with 37.1 per cent, Financial Services with 28.5 per cent, and Technology with 21.6 per cent growth as compared to the year 2015.