EPAM Systems, Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - EPAM Systems, Inc. (EPAM) announced a profit for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $106.82 million, or $1.91 per share. This compares with $136.35 million, or $2.37 per share, last year.

Excluding items, EPAM Systems, Inc. reported adjusted earnings of $171.79 million or $3.08 per share for the period.

Analysts on average had expected the company to earn $3.03 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 19.5% to $1.394 billion from $1.167 billion last year.

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

-Earnings: $106.82 Mln. vs. $136.35 Mln. last year. -EPS: $1.91 vs. $2.37 last year. -Revenue: $1.394 Bln vs. $1.167 Bln last year.

-Guidance: Next quarter EPS guidance: $3.10 - $3.18 Next quarter revenue guidance: $1.380 - $1.395 Bln Full year EPS guidance: $11.36 - $11.44 Full year revenue guidance: $5.430 - $5.445 Bln