WNS (Holdings) Ltd. (WNS:NYSE)

WNS (Holdings) Ltd. announced the launch of its delivery center in San Jose, Costa Rica. While the establishment of the Costa Rica center marks WNS's entry into Latin America, it will also serve as a nearshore center for global clients with North American operations. The center is able to provide multi-lingual services in English and Spanish and will provide the complete suite of WNS services including finance and accounting (F&A), customer service and research and analytics.

WNS (Holdings) Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2009. For the quarter, the company reported net income of $999,000 and net income attributable to company shareholders of $1,355,000 or $0.03 per diluted share on total revenue of $153,047,000 compared to net income and net income attributable to company shareholders of $227,000 or $0.01 per diluted share on total revenue of $149,797,000 for the same period a year ago. The company reported operating income of $6,729,000 and income before income taxes of $1,226,000 compared to operating income of $5,569,000 and income before income taxes of $2,074,000 for the same period a year ago. On a non-GAAP basis, the company reported operating income of $19,441,000 and adjusted net income of $13,711,000 or diluted adjusted net income per ADS of $0.31 compared to operating income of $17,204,000 and adjusted net income of $11,862,000 or diluted adjusted net income per ADS of $0.27 for the same period a year ago. The revenue less repair payments decline was largely the result of the weakening of the British Pound compared with the US Dollar and the second year pricing terms of the Aviva Global Services (AGS) contract. The net income attributable to WNS shareholders in the current quarter increased due to the cost synergies generated out of the acquisitions made in the previous fiscal year and lower taxes compared to the corresponding quarter in the last fiscal year. The primary drivers of adjusted net income increase were tighter cost management, improved scale benefits and increased profits from WNS' acquisitions. This increase was partially offset by higher foreign exchange losses. The company reported cash generation was particularly strong at over $24 million in operating cash and almost $22 million of free cash. For the six months, the company reported net income of $1,952,000 and net income attributable to company shareholders of $2,422,000 or $0.06 per diluted share on total revenue of $289,742,000 compared to net income and net income attributable to company shareholders of $3,567,000 or $0.08 per diluted share on total revenue of $272,741,000 for the same period a year ago. The company reported operating income of $14,949,000 and income before income taxes of $2,506,000 compared to operating income of $10,361,000 and income before income taxes of $5,206,000 for the same period a year ago. On a non-GAAP basis, the company reported operating income of $39,314,000 and adjusted net income of $26,317,000 or diluted adjusted net income per ADS of $0.60 compared to operating income of $26,898,000 and adjusted net income of $20,104,000 or diluted adjusted net income per ADS of $0.46 for the same period a year ago. Net cash provided by operating activities was $31,513,000 compared to net cash provided by operating activities of $13,555,000 for the same period a year ago. The company revised earnings guidance for the year ending March 31, 2010. The company noted that it is well positioned to beat the top end of the guidance ranges for the fiscal year ending March 31, 2010: revenues less repair payments of $390 million and adjusted net income (or net income attributable to WNS shareholders excluding amortization of intangible assets, share-based compensation, related fringe benefit tax and loss attributable to non-controlling interest) of $52 million.

WNS (Holdings) Ltd. expected to Report Q3 2010 Results on February 1, 2010. This event was calculated by Capital IQ (Created on November 4, 2009).