|WNS (HOLDINGS) LTD filed this Form 6-K on 07/19/2018|
Profit in the fiscal first quarter was $22.4 million, as compared to $16.7 million in Q1 of last year and $24.5 million in the previous quarter. Adjusted net income (ANI)* in Q1 was $30.9 million, up $7.3 million as compared to Q1 of last year and down $2.1 million from the previous quarter. In addition to the explanations discussed above, fiscal first quarter profit and adjusted net income* improved by $0.9 million resulting from a one-time tax reversal.
From a balance sheet perspective, WNS ended Q1 with $193.3 million in cash and investments and $89.2 million of debt. In the first quarter, the company generated $14.7 million in cash from operations, had $9.2 million in capital expenditures, and repurchased 450,300 ADSs at an average price of $51.82 per ADS, impacting Q1 cash by $23.0 million dollars. Days sales outstanding were 31 days, as compared to 30 days reported in Q1 of last year and 30 days in the previous quarter.
In the fiscal first quarter, WNS continued to generate solid financial performance, growing revenue less repair payments* 12% year-over-year. Excluding the impact of currency movements and hedging, year-over-year first quarter top line improved by more than 10% on a constant currency* basis all of which was organic, said Keshav Murugesh, WNSs Chief Executive Officer. We are increasingly deploying technology and automation in our solutions, and working to attract, retain and retrain our resources for the changing BPM landscape. WNS remains focused on leveraging deep domain expertise, technology and automation, advanced analytics, and a customer-centric approach to enable our clients success.
Fiscal 2019 Guidance
WNS is updating guidance for the fiscal year ending March 31, 2019 as follows:
The company has updated our forecast for fiscal 2019 based on current visibility levels and exchange rates, said Sanjay Puria, WNSs Chief Financial Officer. Our guidance for the year reflects growth in revenue less repair payments* of 5% to 11%, or 7% to 13% on a constant currency* basis. We currently have 95% visibility to the midpoint of the range.
WNS will host a conference call on July 19, 2018 at 8:00 am (Eastern) to discuss the companys quarterly results. To participate in the call, please use the following details: +1-888-656-9018; international dial-in +1-503-343-6030; participant passcode 8939945. A replay will be available for one week following the call at +1-855-859-2056; international dial-in +1-404-537-3406; passcode 8939945, as well as on the WNS website, www.wns.com, beginning two hours after the end of the call.
WNS (Holdings) Limited (NYSE: WNS), is a leading global business process management company. WNS offers business value to 350+ global clients by combining operational excellence with deep domain expertise in key industry verticals including Travel, Insurance, Banking and Financial Services, Manufacturing, Retail and Consumer Packaged Goods, Shipping and Logistics, Healthcare and Utilities. WNS delivers an entire spectrum of business process management services such as finance and accounting, customer interaction services, technology solutions, research and analytics and industry specific back office and front office processes. As of June 30, 2018, WNS had 38,227 professionals across 55 delivery centers worldwide including China, Costa Rica, India, Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, United Kingdom and the United States. For more information, visit www.wns.com.
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