EPAM Systems, Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - EPAM Systems, Inc. (EPAM) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $73.48 million, or $1.28 per share. This compares with $116.24 million, or $1.97 per share, last year.

Excluding items, EPAM Systems, Inc. reported adjusted earnings of $138.02 million or $2.41 per share for the period.

Analysts on average had expected the company to earn $2.27 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 11.7% to $1.301 billion from $1.165 billion last year.

EPAM Systems, Inc. earnings at a glance (GAAP) :

-Earnings: $73.48 Mln. vs. $116.24 Mln. last year. -EPS: $1.28 vs. $1.97 last year. -Revenue: $1.301 Bln vs. $1.165 Bln last year.

-Guidance: Next quarter EPS guidance: $2.56 to $2.64 Full year EPS guidance: $10.70 to $10.95