|WNS (HOLDINGS) LTD filed this Form 6-K on 10/25/2018|
Profit in the fiscal second quarter was $24.8 million, as compared to $18.9 million in Q2 of last year and $22.4 million in the previous quarter. Adjusted net income (ANI)* in Q2 was $33.7 million, up $6.0 million as compared to Q2 of last year and up $2.9 million from the previous quarter.
From a balance sheet perspective, WNS ended Q2 with $158.1 million in cash and investments and $75.3 million of debt. In the second quarter, the company generated $30.6 million in cash from operations, and incurred $10.7 million in capital expenditures. In the second quarter, WNS repurchased 649,700 ADSs at an average price of $50.73 per ADS. Share repurchases impacted Q2 cash by $33.3 million, and the company also made scheduled debt payments of $14.1 million. Days sales outstanding were 35 days, as compared to 30 days reported in Q2 of last year and 31 days in the previous quarter.
WNSs second quarter financial performance continued to demonstrate our solid business momentum and differentiated positioning in the BPM marketplace. In the fiscal second quarter, the company grew revenue less repair payments* 7% year-over-year, or 11% on an organic, constant currency* basis. We were also able to expand our margins during the quarter and deliver a 23% increase in adjusted diluted earnings* per ADS versus the same quarter of last year, said Keshav Murugesh, WNSs Chief Executive Officer. WNS remains committed to helping our clients outperform in their respective industries through co-creation, and to delivering enhanced value to all our key stakeholders.
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 8%, or 8% to 12% on a constant currency* basis. We currently have 98% visibility to the midpoint of the range.
WNS will host a conference call on October 25, 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 3582659. A replay will be available for one week following the call at +1-855-859-2056; international dial-in +1-404-537-3406; passcode 3582659, 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 September 30, 2018, WNS had 38,516 professionals across 57 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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