ExlService Holdings, Inc. announced the appointment of N.T. Shiv Kumar as Global Head, Strategic Growth Initiatives. In his new role, Kumar will be responsible for continuing the development of EXL's global business and enhancing the company's ability to secure large, strategic engagements. Kumar previously served as EXL's Chief Sales and Marketing Officer from 2004-2006 and was instrumental in expanding the company's customer base across multiple industries.

ExlService Holdings, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues were $116.0 million compared to $104.6 million for the same period last year. Net income was $9.8 million compared to $8.9 million for the same period last year. Adjusted EBITDA was $21.9 million compared to $19.5 million for the same period last year. Diluted earnings per share were $0.29 compared to $0.27 for the same period last year. Adjusted net income was $13.454 million compared to $11.78 million for the same period last year. Adjusted diluted earnings per share were $0.40 compared to $0.36 for the same period last year. Income from operations was $11.781 million compared to $10.431 million for the same period last year. Income before income taxes was $12.759 million compared to $11.936 million for the same period last year. Adjusted operating income was $17.06 million compared to $14.568 million for the same period last year. In the first quarter, the company posted sequential growth in outsourcing business, due to contributions from insurance and healthcare and utilities verticals. In the first quarter, the company’s revenues grew 11% year-over-year or 13% on a constant-currency basis. This growth was driven by a steady and consistent growth in its outsourcing and annuity-based transformation Services businesses. Adjusted EPS year-over-year growth was driven by revenue growth. The company is maintaining its guidance for calendar year 2013, based on current visibility and an Indian rupee rate to the U.S. dollar of 54: Revenues will be in the range of $495 million to $505 million. Adjusted diluted earnings per share, excluding the impact of stock-based compensation expense, amortization of intangibles and associated tax impacts, of $1.77 to $1.85. For 2013, the company will continue to expect a tax rate of -- in the high 20s, which implies a significant step up in the tax rate for the coming quarters. For the second half of 2013, the company expects growth to accelerate meaningfully for several reasons. While the company is maintaining its guidance for 2013, the company anticipates most of its growth will occur in the second half of the year.

On April 11, 2013, Mr. Kiran Karnik, a member of the Board of Directors of Exlservice Holdings, Inc., notified of his decision not to stand for re-election to the Board at the annual meeting of stockholders in June 2013. Mr. Karnik served on the Compensation Committee and the Nominating and Governance Committee.