Corporation (NASDAQ GS: VRTU) has reported a revenue of $226 million for the fourth quarter of fiscal 2017 an increase of 4.0% sequentially and 31.5% year-over-year. On a constant currency basis, (1) fourth quarter revenue increased 4.1% sequentially and 34.7% year-over-year.
Kris Canekeratne, Chairman and CEO, said, “We made excellent progress against our FY 2017 strategic goals. Most notably, we are pleased with the integration of Polaris and our ability to greatly expand our addressable market in BFSI, Communications & Technology and Media & Information. We are very pleased with the number of leading enterprises that rely on for their most strategic end-to-end digital transformation programs. Looking to fiscal 2018, we will intensify our digital offerings and strengthen our leadership position in this rapidly growing area.”
It has reported GAAP income from operations of $10.2 million for the fourth quarter of fiscal 2017, an increase from $6.5 million for the third quarter of fiscal 2017 and $5.5 million for the fourth quarter of fiscal 2016.
Fourth quarter fiscal 2017 GAAP income from operations includes approximately $0.5 million of restructuring charges related to certain cost savings initiatives.
On a GAAP basis, net income attributable to common shareholders was $10.5 million for the fourth quarter of fiscal 2017, or $0.34 per diluted share, compared to $4.4 million, or $0.15 per diluted share, for the third quarter of fiscal 2017, and $12.3 million, or $0.41 per diluted share, for the fourth quarter of fiscal 2016. Fourth quarter fiscal 2017 GAAP net income includes the impact of the aforementioned restructuring charges related to certain cost savings initiatives, net of tax.
The Company has ended the fiscal year 2017 with $237 million of cash, cash equivalents, and short-term and long-term investments . Cash flow from operations was $0.6 million for the fourth quarter and $22.2 million for the fiscal year 2017.
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