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SMALL BUSINESS
ExlService Holdings posts profit, revenue grows
AP
NEW YORK -Outsourcing company ExlService Holdings Inc. reported a profit in its third quarter, as the prior year's results were hurt by discontinued operations and a larger foreign exchange loss.
The company said it earned $4 million, 14 cents per share, compared with with a loss of $1.1 million, or 5 cents per share, a year ago.
Analysts predicted a profit of 6 cents per share, according to a Thomson Reuters survey. Analysts' estimates normally exclude one-time items.
Revenue grew 3 percent, to $48.2 million from $46.6 million, surpassing Wall Street's estimate of $44.5 million.
The revenue improvement prompted ExlService to raise its full-year revenue forecast, to a range of $178 million to $180 million. It previously anticipated revenue of $170 million to $175 million. Analysts expect 2009 revenue of $174.1 million.
ExlService also said it signed an eight-year deal with American Express Business Travel to service its back-office operations.
Shares of ExlService closed at $13.86 Thursday.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-06 09:23:43
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