Virtusa's revenue up 28% to $45m in 4 Q 2008

Virtusa Corporation (NASDAQ: VRTU), a global information technology (IT) services company that provides IT consulting, technology implementation and application outsourcing services through an enhanced global delivery model, reported its financial results for the fourth quarter and full fiscal year ended March 31, 2008.

For the fourth quarter of fiscal 2008, Virtusa's revenue increased 28% year-over-year and 6% sequentially to $45.0 million.

Virtusa reported income from operations of $5.6 million or 12.5% of revenue, for the fourth quarter of fiscal 2008. This represents an increase of 38% compared to $4.1 million for the fourth quarter of fiscal 2007.

Net income for the fourth quarter of fiscal 2008 was $5.3 million or $0.21 per diluted share, compared to $3.6 million or $0.19 per diluted share, for the fourth quarter of fiscal 2007.