Luxoft Holding (LXFT) reported earnings on Thur 24 May 18 (b/o)

Luxoft Holding, Inc. provides software development services and IT solutions to multinational corporations primarily in Europe and the United States.

• Zug, Switzerland
• Sector: Technology
• Industry: Software - Application
• Full Time Employees: 13,101
• http://www.luxoft.com

** charts after earnings **

 

Luxoft Holding misses by $0.01, beats on revs; guides Q1 revs below consensus 

• Reports Q4 (Mar) earnings of $0.59 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.60; revenues rose 14.1% year/year to $232.9 mln vs the $228.74 mln Capital IQ Consensus.
  • Co's top two accounts amounted to 34.1% of revenue, representing a 3.4 percentage-point decrease over the prior year. 
  • Co's top five accounts amounted to 46.8% of revenue, an annual 4.9 percentage-point decrease, and top ten accounts amounted to 56.3% of revenue, a 6.0 percentage point decrease.
• Co issues downside guidance for Q1, sees Q1 revs of $210-215 mln vs. $237.48 mln Capital IQ Consensus Estimate.

Co states, "For the first quarter of fiscal 2019, we expect revenue and adjusted EBITDA margin to be in the range of $210 to $215 million and 8.5% to 9.5%, respectively. Based on project timing, seasonality, ramp down of the large Financial Services account and planned expenses related to SG&A optimization, we expect this to be our slowest quarter and for growth to accelerate as we move through fiscal 2019."