Virtusa Named to Globe 100, Recognized as One of the Best-Performing Publicly-Traded Corporations in Massachusetts

Published on Wednesday, 30 May 2012 09:06 Written by TradersHuddle Staff

WESTBOROUGH, Mass.-( Business Wire )-

Virtusa Corporation (NASDAQ: VRTU), a global IT services company that offers a broad range of information technology services, including IT consulting, technology implementation and application outsourcing, today announced that it has been named to the Boston Globe’s Globe 100 List, a prestigious ranking of the best-performing publicly-traded corporations in Massachusetts.

This is the first year since 2009 that a full 100 companies qualified for the prestigious listing, up from only 82 companies in 2010, illustrating the resurgence of the Massachusetts economy. Virtusa was ranked 42 and honored as a company helping to drive this resurgence.

“The positive momentum we are seeing in the economic recovery is illustrated by the Globe 100 returning to full strength,” said Shirley Leung, Boston Globe business editor. “It’s a powerful testament to the resiliency of Massachusetts’ businesses.”

The Globe 100, now in its 24^th year, ranks Bay State companies based on how well they increased sales, profits and returns for shareholders. The 2012 Globe 100 honors companies that delivered exceptional financial results during 2011. This year’s list is unique in that it represents those Massachusetts companies that have weathered the global recession and are now are driving rejuvenation of the economy.

“We are delighted to be recognized on Boston Globe’s Globe 100 List given that Massachusetts is home to countless innovative and progressive companies,” said Kris Canekeratne, chairman and CEO of Virtusa. “Year after year Virtusa continues to experience solid growth because of our strategic focus on helping clients accelerate their business outcomes, innovate, launch new products and services and improve IT efficiencies. It is an honor to be ranked in the Globe 100 and play a role in the resurgence of the Massachusetts economy.”

The annual ranking of companies appeared in a magazine published in The Boston Sunday Globe on Sunday, May 20, 2012 and can be seen at BostonGlobe.com/globe100.

About the Globe 100 ranking methodology

The Globe 100 ranks Massachusetts-based public companies based on financial data from the four quarters ending December 31, 2011. To be eligible, the company must be traded publicly for the entire 2011 calendar year on the New York Stock Exchange, the Nasdaq or the American Stock Exchange and report revenue and profit for both 2010 and 2011. Companies are ranked on four criteria: return on average equity, one-year percentage change in revenue, one-year percentage change in profit margin and 2011 revenue.

About The Boston Globe

The Boston Globe is wholly owned by the New York Times Company (NYSE: NYT), a leading global multimedia news and information company with 2011 revenues of $2.3 billion, that includes The New York Times, the International Herald Tribune, The Boston Globe, NYTimes.com, BostonGlobe.com, Boston.com, About.com and related properties. The Company's core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

About Virtusa

Virtusa provides end-to-end information technology (IT) services to Global 2000 companies. These services, which include IT consulting, application maintenance, development, systems integration and managed services, leverage a unique Platforming methodology that transforms clients’ businesses through IT rationalization. Virtusa helps customers accelerate business outcomes by consolidating, rationalizing, and modernizing their core customer-facing processes into one or more core systems.

Virtusa delivers cost-effective solutions through a global delivery model, applying advanced methods such as Agile and Accelerated Solution Design to ensure that its solutions meet the clients’ requirements. As a result, its clients simultaneously reduce their IT operations cost while increasing their ability to meet changing business needs.

Founded in 1996 and headquartered in Massachusetts, Virtusa has operations in North America, Europe, and Asia.

© 2011, 2012 Virtusa Corporation. All rights reserved.

Virtusa, Accelerating Business Outcomes, BPM Test Drive and Productization are registered trademarks of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

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