Hexaware Announces Robust North American Revenue Growth in Q2 2015 as Profitability Continues to Increase

Aug 12, 2015, 09:30 ET from Hexaware Technologies

JAMESBURG, N.J., Aug. 12, 2015 /PRNewswire/ -- Hexaware Technologies, a leading global provider of IT, BPO and consulting services, today announced that the company has reported a robust performance for the second quarter of the calendar year, ending June 30, 2015. Q2 2015 revenue now stands at $121.19 M in constant currency, which is up 5.5% quarter over quarter and 22.2% year over year.

The Americas led the geographic growth, with Travel and Transportation leading among verticals in Q2 2015. Application Development & Maintenance (ADM) led growth among service lines in value terms, while Infrastructure Management Services IMS clocked the highest percentage increase in Q2 2015.

Hexaware added nine new clients across its key focus areas, including three clients each in the Manufacturing and Consumer Vertical and Travel and Transportation segments, two clients in Healthcare & Insurance and one client in Banking and Financial Services. Of the nine customers added in Q2 2015, the majority [5] are based in the Americas.

"This quarter witnessed significant revenue growth in several of our geographies," said Atul Nishar, Chairman, Hexaware Technologies Limited. "Hexaware's focused customer mining strategies and investments in digital technologies have also started to yield positive results."

Hexaware's headcount as of Q2 2015 now stands at 11,009, up 909 quarter over quarter, and includes 399 new graduate engineers. The company also announced a performance-based Employee Stock Options and Ownership (ESOP) plan for key leadership, with vesting linked to long-term performance metrics.

"The tactical customer acquisitions during the quarter are a result of our robust investments creating differentiated solutions," said R Srikrishna, CEO & Executive Director, Hexaware Technologies Limited. "While the numbers are good indicators for the immediate future, our investments will also help improve Hexaware's overall sustainability for future revenue growth."

For the full report, and for additional financial information, please visit: hexaware.com/newsroom/news

About Hexaware Technologies

Hexaware is a leading global provider of IT & BPO services and consulting. The company focuses on key domains such as Banking, Financial Services, Insurance, Travel, Transportation, Logistics, Life Sciences and Healthcare. Our business philosophy, "Your Success is Our Focus," is demonstrated through the success we ensure for our clients. Hexaware focuses on delivering business results and leveraging technology solutions by specializing in Business Intelligence & Analytics, Enterprise Applications, Quality Assurance and Testing, Remote Infrastructure Management Services and Legacy Modernization. Founded in 1990, Hexaware has a well-established global delivery model armed with proven proprietary tools and methodologies, skilled human capital and SEI CMMI-Level 5 certification. For additional information, log on to www.hexaware.com.

Safe Harbor Statement

Certain statements in this press release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.


SOURCE Hexaware Technologies