NEW YORK, NY as good as MUMBAI, INDIA–(Marketwire – Jan 21, 2010) – WNS (Holdings) Limited (WNS) (NYSE: WNS), the heading provider of tellurian commercial operation routine outsourcing (BPO) services, currently voiced formula for the mercantile third entertain 2010 finished Dec 31, 2009 as good as validated the mercantile 2010 superintendence of income reduction correct payments (or net revenues) of some-more than $390 million. It additionally validated the mercantile 2010 superintendence of practiced net income (ANI) (or net income attributable to WNS shareholders incompatible amortization of unsubstantial assets, share-based compensation, compared border good taxation as good as detriment attributable to non-controlling interest) of some-more than $52 million.
Revenue for the mercantile third entertain 2010 of $149.1 million represented an enlarge of 11.3% over the analogous entertain in the before mercantile year, whilst income reduction correct payments during $96.8 million, declined by 2.8% over the analogous duration in the before mercantile year. The income reduction correct payments decrease was mostly the outcome of the decrease in stipulate volumes in the transport as good as word segments as good as the second year pricing conditions of the Aviva Global Services (AGS) contract.
As the result, net income attributable to WNS shareholders for the mercantile third entertain 2010 was $0.3 million compared to $2.1 million during the analogous entertain in the before mercantile year. Similarly, practiced net income was $11.1 million, the decrease of 13.5% compared to the analogous entertain in the before year. Net income as good as practiced net income formula additionally reflected $1 million in costs compared with the unwinding of seductiveness rate swaps from the $15 million prepayment WNS done upon the tenure loan in Jan 2010.
“As the outcome of this year’s sales as good as enlargement activity, notwithstanding the severe quarter, the longer tenure enlargement prospects demeanour clever as good as you have been reaffirming which you will kick the tip finish of the strange superintendence operation for mercantile 2010 upon net revenues as good as ANI,” pronounced Neeraj Bhargava, Group Chief Executive Officer.
WNS accessible simple income per ADS of $0.01 for mercantile third entertain 2010. Adjusted simple income per ADS (or net income per ADS attributable to WNS shareholders incompatible amortization of unsubstantial assets, share-based compensation, compared border good taxation as good as detriment attributable to non-controlling interest) was $0.26 for the quarter, the decrease of 14.8% from the analogous entertain final year.
“We have been in the ramp up theatre for new sales, as good as the tube is strong,” pronounced Anup Gupta, Group Chief Operating Officer. “While this resulted in the little vigour upon the margins in the third quarter, the fourth entertain should good from the enlargement of the customer base. Our operations sojourn upon track, which you demonstrated by achieving the fifth true entertain of practiced handling margins of upon top of eighteen percent.”
The Board of Directors additionally voiced currently which upon Jan 31, 2010, Neeraj Bhargava, Group Chief Executive Officer, will step down from his post, as formerly stated. He will sojourn as the vital advisor. The Board will be creation an proclamation about WNS care shortly.
Financial Highlights: Fiscal Third Quarter Ended Dec 31, 2009
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– Quarterly income of $149.1 million, up 11.3% from the analogous entertain final year. — Quarterly income reduction correct payments of $96.8 million, down 2.8% from the analogous entertain final year. — Quarterly net income attributable to WNS shareholders of $0.3 million compared to $2.1 million from the analogous entertain final year. — Quarterly practiced net income (or net income attributable to WNS shareholders incompatible amortization of unsubstantial assets, share-based compensation, compared border good taxation as good as detriment attributable to non- determining interest) of $11.1 million, down 13.5% from the analogous entertain final year. — Quarterly simple income per ADS of $0.01, compared with $0.05 for the analogous entertain final year. — Quarterly practiced simple income per ADS (or net income attributable to WNS shareholders per share incompatible amortization of unsubstantial assets, share-based compensation, compared border good taxation as good as detriment attributable to non-controlling interest) of $0.26, down $0.04 or 14.8% from the analogous entertain final year.
Reconciliations of non-GAAP monetary measures to GAAP handling formula have been enclosed during the finish of this release.
Fiscal 2010 Guidance
WNS validated the income reduction correct payments as good as practiced net income superintendence for the mercantile year finale Mar 31, 2010, formed upon stream sell rate trends:
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– Revenues reduction correct payments of some-more than $390 million for the mercantile year. — Adjusted net income (or net income attributable to WNS shareholders incompatible amortization of unsubstantial assets, share-based compensation, compared border good taxation as good as detriment attributable to non-controlling interest) of some-more than $52 million for the mercantile year (excluding any charges for the unwinding of seductiveness rate swaps).
“Despite sensitivity in the sell rates as good as volume vigour in the transport as good as insurance-related businesses, you have been means to reaffirm the net income as good as ANI guidance,” pronounced Alok Misra, Group Chief Financial Officer. “Our money flows remained clever this quarter. In prepaying $15 million upon the tenure loan in early January, you have abundantly demonstrated the capability to beget giveaway cash. This prepayment will additionally lead to reduce seductiveness responsibility as good as urge profitability.”
Conference Call
WNS will horde the discussion call upon Jan 21, 2010 during 8:00 am (EST) to plead the company’s quarterly results. To experience in the call, greatfully use the following details: +1-800-884-5695; general dial-in +1-617-786-2960; member passcode 59398539. A replay will be accessible for the single week following the call during +1-888-286-8010; general dial-in +1-617-801-6888; passcode 64880117, as good as upon the WNS website, www.wns.com, commencement dual hours after the finish of the call.
About WNS
WNS (Holdings) Limited (NYSE: WNS) is the heading tellurian commercial operation routine outsourcing company. Deep attention as good as commercial operation routine knowledge, the partnership approach, extensive use charity as good as the proven lane jot down enables WNS to broach commercial operation worth to the little of the heading companies in the world. WNS is ardent about office building the market-leading association valued by the clients, employees, commercial operation partners, investors as good as communities. For some-more information, visit www.wns.com.
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