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Revenue for t he t hird quarter of fiscal 2015 was US$ 123.0 million, an increase of 4.5 percent sequentially and 22 percent year-over-year in reported currency. On a constant currency basis, third quarter revenue increased 6 percent sequentially and 22 percent year-over-year.
Income from operations increased to US$14.6 million for the third quarter of fiscal 2015, compared to US$12.2 million for the second quarter of fiscal 2015, and US$11.2 million for the third quarter of fiscal 2014.

Net income for the third quarter of fiscal 2015 increased to US$11.8 million, or US$ 0.40 per diluted share, compared to US$10.1 million, or US$0.34 per diluted share, for the second quarter of fiscal 2015, and compared to US$ 9.3 million, or US$ 0.35 per diluted share, for the third quarter of fiscal 2014.
The company ended the third quarter of fiscal 2015 with US$ 224.5 million of cash, cash equivalents, and short-term and long-term investments. Cash flow from operations for the third quarter of fiscal 2015 was US$ 12.6 million.

Kris Canekeratne, Virtusa’s Chairman and CEO, stated, “Our results this quarter further validate that our initiatives to meet our clients’ dual mandate of simultaneously improving operational efficiencies through business transformation, and generating incremental revenue growth t hrough digital initiatives are working. We continue to strengthen our client relationships, increasing the value we deliver through our industry expertise and delivery excellence.”

Ranjan Kalia, Chief Financial Officer, said, “Our business continues to benefit from a greater number of transformational programs. Investments in increased onsite effort will impact margins as t hese transformational programs ramp, but are expected to deliver returns as revenue scales and we leverage our global delivery model.” Kalia continued, “Our fourth quarter revenue guidance reflects continued strong growth, even when absorbing an expected impact of approximately US$ 1.8 million from European currency movements.”