WNS (Holdings) Limited (WNS) (NYSE: WNS), a leading provider of
global Business Process Management (BPM) services, today announced
results for the fiscal 2017 second quarter ended September 30,
2016.
Highlights – Fiscal 2017 Second
Quarter:
GAAP
Financials
- Revenue of $149.8 million, up 6.2% from $141.0 million in Q2
of last year and up 1.2% from $148.0 million last quarter
- Profit of $12.6 million, compared to $15.5 million in Q2 of
last year and $12.2 million last quarter
- Diluted earnings per ADS of $0.24, compared to $0.29 in Q2
of last year and $0.23 last quarter
Non-GAAP
Financial Measures*
- Revenue less repair payments of $143.7 million, up 7.8% from
$133.3 million in Q2 of last year and up 2.1% from $140.8 million
last quarter
- The method of calculating our non-GAAP financial measures of
Adjusted Net Income (ANI) and Adjusted diluted earnings per ADS has
changed to include the impact of tax effect on amortization of
intangibles and share based compensation
- ANI of $22.0 million, compared to $24.2 million in Q2 of
last year and $21.1 million last quarter
- As per previous method of calculation (excluding tax effect
on non-GAAP adjustments), ANI of $25.7 million, compared to $27.1
million in Q2 of last year and $23.9 million last quarter
- Adjusted diluted earnings per ADS of $0.42, compared to
$0.46 in Q2 of last year and $0.40 last quarter
- As per previous method of calculation (excluding tax effect
on non-GAAP adjustments), Adjusted diluted earnings per ADS of
$0.49, compared to $0.51 in Q2 of last year and $0.45 last
quarter
Other
Metrics
- Added 6 new clients in the quarter, expanded 11 existing
relationships
- Days sales outstanding (DSO) at 30 days
- Global headcount of 31,719 as of September 30, 2016
Reconciliations of the non-GAAP financial measures discussed
below to our GAAP operating results are included at the end of this
release. See also “About Non-GAAP Financial Measures.”
Revenue in the second quarter was $149.8 million, representing a
6.2% increase versus Q2 of last year and a 1.2% increase from the
previous quarter. Revenue less repair payments* in the second
quarter was $143.7 million, an increase of 7.8% year-over-year and
2.1% sequentially. Excluding exchange rate impacts, constant
currency revenue less repair payments* in the fiscal second quarter
grew 16.0% versus Q2 of last year, and 4.6% sequentially.
Year-over-year, fiscal Q2 revenue was adversely impacted by
depreciation in the British Pound and South African Rand against
the US Dollar. These headwinds were more than offset by revenue
growth in the Healthcare, Travel, Shipping and Logistics, and
Retail/CPG verticals. Sequentially, revenue improvement in the
Travel and Healthcare verticals was partially offset by currency
headwinds net of hedging.
Operating margin in the second quarter was 10.2%, as compared to
13.7% in Q2 of last year and 9.8% reported in the previous quarter.
Second quarter adjusted operating margin* was 19.8%, versus 23.1%
in Q2 of last year and 18.6% last quarter. On a year-over-year
basis, these margins were pressured by currency movements net of
hedging, the impact of our annual wage increases, and increased
compensation associated with the India Payment of Bonus Act.
Partially offsetting these costs was increased operating leverage
from higher volumes. Sequentially, margins expanded as a result of
productivity improvements, which more than offset costs associated
with wage increases and reduced seat utilization.
Commencing this fiscal 2017 second quarter, we have revised the
method of calculating our non-GAAP ANI and non-GAAP adjusted
diluted earnings per ADS to include the income tax effect on the
adjustments to our GAAP profit (being amortization of intangible
assets and share-based compensation expense). We have applied this
revised method of calculating our non-GAAP ANI and non-GAAP
adjusted diluted earnings per ADS for the comparative periods to
provide consistency across the periods presented in this release.
The tables at the end of this release reconcile our GAAP operating
results to our non-GAAP financial measures, as well as to our
non-GAAP financial measures as previously calculated. GAAP Profit
in the fiscal second quarter was $12.6 million, as compared to
$15.5 million in Q2 of last year and $12.2 million in the previous
quarter. Adjusted net income (ANI)* in Q2 was $22.0 million, down
$2.2 million as compared to Q2 of last year and up $0.9 million
from the previous quarter.
From a balance sheet perspective, WNS ended Q2 with $159.6
million in cash and investments and no debt. In the second quarter,
the company generated $18.0 million in cash from operations, and
had $6.9 million in capital expenditures. During Q2, WNS
repurchased 395,444 ADSs at an average price of $29.43 per ADS,
totaling $11.7 million. Days sales outstanding were 30 days, as
compared to 27 days in Q2 of last year and 29 days reported in the
previous quarter.
“WNS continues to deliver strong financial and operating
performance, including solid constant currency revenue growth and
operating margins. Our underlying business momentum remains
healthy, and we are seeing broad-based opportunity across our key
service offerings, geographies and verticals,” said Keshav
Murugesh, WNS’s Chief Executive Officer. “While depreciation in the
British Pound is pressuring our financials from a currency
perspective, to date we have not seen an impact to our core
business from Brexit. This includes the new deal pipeline, contract
awards, project ramps and volumes with existing clients. Looking
forward, WNS expects to leverage our strong balance sheet and to
continue our investments in strategic focus areas such as domain
expertise, technology-enabled solutions, digital offerings and
analytics with the goal of optimizing stakeholder value.”
Fiscal 2017 Guidance
WNS is updating guidance for the fiscal year ending March 31,
2017 as follows:
- Revenue less repair payments* is
expected to be between $551 million and $567 million, up from
$531.0 million in fiscal 2016. This assumes an average GBP to USD
exchange rate of 1.24 for the remainder of fiscal 2017.
- The method of calculating our non-GAAP
financial measures of ANI* and Adjusted diluted earnings per ADS*
has changed to include the impact of tax effect on amortization of
intangibles and share based compensation.
- ANI* is expected to range between $84
million and $89 million versus $90.9 million in fiscal 2016. This
assumes an average USD to INR exchange rate of 66.5 for the
remainder of fiscal 2017.
- As per previous method of calculation
(excluding tax effect on non-GAAP adjustments), ANI* is expected to
be in the range of $95 million and $100 million versus $103.0
million in fiscal 2016.
- Based on a diluted share count of 52.5
million shares, the company expects adjusted diluted earnings* per
ADS to be in the range of $1.60 to $1.70 versus $1.69 in fiscal
2016.
- As per previous method of calculation
(excluding tax effect on non-GAAP adjustments), adjusted diluted
earnings* per ADS is expected to be in the range of $1.81 to $1.91
versus $1.92 in fiscal 2016.
“The company has updated our forecast for fiscal 2017 based on
current visibility levels and exchange rates,” said Sanjay Puria,
WNS’s Chief Financial Officer. “Our revised guidance for the year
reflects growth in revenue less repair payments* of 4% to 7%, or
10% to 14% on a constant currency* basis. We currently have over
98% visibility to the midpoint of the range.”
Conference Call
WNS will host a conference call on October 20, 2016 at 8:00 am
(Eastern) to discuss the company's quarterly results. To
participate in the call, please use the following details:
+1-888-656-9018; international dial-in +1-503-343-6030; participant
passcode 90132407. A replay will be available for one week
following the call at +1-855-859-2056; international dial-in
+1-404-537-3406; passcode 90132407, as well as on the WNS website,
www.wns.com, beginning two hours after the end of the call.
About WNS
WNS (Holdings) Limited (NYSE: WNS), is a leading global business
process management company. WNS offers business value to 200+
global clients by combining operational excellence with deep domain
expertise in key industry verticals including Travel, Insurance,
Banking and Financial Services, Manufacturing, Retail and Consumer
Packaged Goods, Shipping and Logistics, Healthcare and Utilities.
WNS delivers an entire spectrum of business process management
services such as finance and accounting, customer interaction
services, technology solutions, research and analytics and industry
specific back office and front office processes. As of September
30, 2016, WNS had 31,719 professionals across 42 delivery centers
worldwide including China, Costa Rica, India, Philippines, Poland,
Romania, South Africa, Sri Lanka, United Kingdom and the United
States. For more information, visit www.wns.com.
Safe Harbor Statement
This release contains forward-looking
statements, as defined in the safe harbor provisions of the US
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on our current expectations
and assumptions about our Company and our industry. Generally,
these forward-looking statements may be identified by the use of
terminology such as “anticipate,” “believe,” “estimate,” “expect,”
“intend,” “will,” “seek,” “should” and similar expressions. These
statements include, among other things, the discussions of our
strategic initiatives and the expected resulting benefits, our
growth opportunities, industry environment, expectations concerning
our future financial performance and growth potential, including
our fiscal 2017 guidance and future profitability, and expected
foreign currency exchange rates. Forward-looking statements
inherently involve risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
such statements. Such risks and uncertainties include but are not
limited to worldwide economic and business conditions; political or
economic instability in the jurisdictions where we have operations;
our dependence on a limited number of clients in a limited number
of industries; regulatory, legislative and judicial developments;
increasing competition in the BPM industry; technological
innovation; telecommunications or technology disruptions; our
liability arising from fraud or unauthorized disclosure of
sensitive or confidential client and customer data; our ability to
attract and retain clients; negative public reaction in the US or
the UK to offshore outsourcing; our ability to expand our business
or effectively manage growth; our ability to hire and retain enough
sufficiently trained employees to support our operations; the
effects of our different pricing strategies or those of our
competitors; our ability to successfully consummate, integrate and
achieve accretive benefits from our strategic acquisitions, and to
successfully grow our revenue and expand our service offerings and
market share; and future regulatory actions and conditions in our
operating areas. These and other factors are more fully discussed
in our most recent annual report on Form 20-F filed on May 12, 2016
with the US Securities and Exchange Commission (SEC) which are
available at www.sec.gov. We caution you not to place undue
reliance on any forward-looking statements. Except as required by
law, we do not undertake to update any forward-looking statements
to reflect future events or circumstances.
References to “$” and “USD” refer to the United
States dollars, the legal currency of the United States; references
to “GBP” refer to the British pound, the legal currency of Britain;
and references to “INR” refer to Indian Rupees, the legal currency
of India. References to GAAP refers to International Financial
Reporting Standards, as issued by the International Accounting
Standards Board (IFRS).
*See “About Non-GAAP Financial Measures” and the reconciliations
of the historical non-GAAP financial measures to our GAAP operating
results at the end of this release.
WNS (HOLDINGS) LIMITED CONDENSED
CONSOLIDATED STATEMENTS OF INCOME (Unaudited, amounts in
millions, except share and per share data)
Three months ended
Sep 30,2016
Sep 30,2015
Jun 30,2016
Revenue $ 149.8 $ 141.0 $ 148.0 Cost of revenue 99.7
90.5 98.7 Gross profit 50.1 50.5 49.3
Operating expenses: Selling and marketing expenses 8.0 8.0 7.7
General and administrative expenses 22.1 20.4 20.9 Foreign exchange
loss/ (gain), net (2.5 ) (3.6 ) (0.1 ) Amortization of intangible
assets 7.2 6.5 6.3
Operating profit 15.3 19.3 14.5 Other income, net (2.1 ) (1.8 )
(2.3 ) Finance expense 0.0 0.1
0.1 Profit before income taxes 17.3 21.0 16.8 Provision for
income taxes 4.7 5.5 4.6
Profit $ 12.6 $ 15.5 $ 12.2 Earnings
per share of ordinary share Basic $ 0.25 $ 0.30 $
0.24 Diluted $ 0.24 $ 0.29 $ 0.23
WNS (HOLDINGS) LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF
FINANCIAL POSITION
(Unaudited, amounts in millions, except
share and per share data)
As atSep 30,2016
As atMar 31,2016
ASSETS Current assets: Cash and cash equivalents $ 53.9 $
41.9 Investments 105.7 133.0 Trade receivables, net 57.6 54.9
Unbilled revenue 45.0 44.3 Funds held for clients 11.0 11.9
Derivative assets 24.7 13.9 Prepayments and other current assets
25.3 22.6 Total current assets 323.2
322.5 Non-current assets: Goodwill 85.6 76.2 Intangible
assets 22.8 27.1 Property and equipment 49.2 50.4 Derivative assets
7.1 4.8 Deferred tax assets 20.2 22.5 Other non-current assets
28.5 21.8 Total non-current assets
213.3 203.0
TOTAL ASSETS
$ 536.6 $ 525.5
LIABILITIES AND EQUITY
Current liabilities: Trade payables $ 18.5 $ 19.9 Provisions and
accrued expenses 23.6 24.7 Derivative liabilities 4.0 3.3 Pension
and other employee obligations 38.5 44.8 Deferred revenue 3.5 2.9
Current taxes payable 5.0 1.7 Other liabilities 10.1
6.0 Total current liabilities 103.2 103.3
Non-current liabilities:
Derivative liabilities 0.7 0.5 Pension and other employee
obligations 10.5 6.9 Deferred revenue 0.3 0.3 Other non-current
liabilities 8.3 4.5 Deferred tax liabilities 4.1
1.8 Total non-current liabilities 23.9
13.9
TOTAL LIABILITIES
127.1 117.3 Shareholders'
equity: Share capital (ordinary shares $0.16 (10 pence) par value,
authorized 60,000,000 shares; issued: 53,225,479 shares and
52,406,304 shares; outstanding: 50,980,035 shares and 51,306,304
shares; each as at September 30, 2016 and March 31, 2016,
respectively) 8.3 8.2 Share premium 325.9 306.9 Retained earnings
265.0 240.2 Other components of equity (124.6 )
(116.7 ) Total shareholders’ equity including shares held in
treasury 474.6 438.6 Less: 2,245,444
shares as of September 30, 2016 and 1,100,000 shares as of March
31, 2016, held in treasury, at cost (65.1
)
(30.5 ) Total shareholders’ equity 409.5
408.2
TOTAL LIABILITIES AND EQUITY $
536.6 $ 525.5
About Non-GAAP Financial
Measures
The financial information in this release includes certain
non-GAAP financial measures that we believe more accurately reflect
our core operating performance. Reconciliations of these non-GAAP
financial measures to our GAAP operating results are included
below. A more detailed discussion of our GAAP results is contained
in “Part I –Item 5. Operating and Financial Review and Prospects”
in our annual report on Form 20-F filed with the SEC on May 12,
2016.
For financial statement reporting purposes, WNS has two
reportable segments: WNS Global BPM and WNS Auto Claims BPM.
Revenue less repair payments is a non-GAAP financial measure that
is calculated as (a) revenue less (b) in the auto claims business,
payments to repair centers for “fault” repair cases where WNS acts
as the principal in its dealings with the third party repair
centers and its clients. WNS believes that revenue less repair
payments for “fault” repairs reflects more accurately the value
addition of the business process management services that it
directly provides to its clients. For more details, please see the
discussion in “Part I – Item 5. Operating and Financial Review and
Prospects – Overview” in our annual report on Form 20-F filed with
the SEC on May 12, 2016.
Constant currency revenue less repair payments is a non-GAAP
financial measure. We present constant currency revenue less repair
payments so that revenue less repair payments may be viewed without
the impact of foreign currency exchange rate fluctuations, thereby
facilitating period-to-period comparisons of business performance.
Constant currency revenue less repair payments is presented by
recalculating prior period’s revenue less repair payments
denominated in currencies other than in US dollars using the
foreign exchange rate used for the latest period, without taking
into account the impact of hedging gains/losses. Our non-US dollar
denominated revenues include, but are not limited to, revenues
denominated in pound sterling, South African rand, Australian
dollar and euro.
WNS also presents (1) adjusted operating margin, which refers to
adjusted operating profit (calculated as operating profit excluding
amortization of intangible assets and share-based compensation
expense) as a percentage of revenue less repair payments, and (2)
ANI, which is calculated as profit excluding amortization of
intangible assets and share-based compensation expense and
including the tax effect thereon, and other non-GAAP financial
measures included in this release as supplemental measures of its
performance. WNS presents these non-GAAP financial measures because
it believes they assist investors in comparing its performance
across reporting periods on a consistent basis by excluding items
that it does not believe are indicative of its core operating
performance. In addition, it uses these non-GAAP financial measures
(i) as a factor in evaluating management’s performance when
determining incentive compensation and (ii) to evaluate the
effectiveness of its business strategies. These non-GAAP financial
measures are not meant to be considered in isolation or as a
substitute for WNS’s financial results prepared in accordance with
IFRS.
The company is not able to provide our forward-looking GAAP
revenue, profit and earnings per ADS without unreasonable efforts
for a number of reasons, including our inability to predict with a
reasonable degree of certainty the payments to repair centers, our
future share-based compensation expense under IFRS 2 (Share Based
payments), amortization of intangibles associated with future
acquisitions, and currency fluctuations. As a result, any attempt
to provide a reconciliation of the forward-looking GAAP financial
measures (revenue, profit, earnings per ADS) to our forward-looking
non-GAAP financial measures (revenue less repair payments*, ANI*
and Adjusted diluted earnings* per ADS respectively) would imply a
degree of likelihood that we do not believe is reasonable.
Reconciliation of revenue (GAAP) to
revenue less repair payments (non-GAAP) and constant currency
revenue less repair payments (non-GAAP)
Three months ended Three
months ended
Sep 30, 2016 compared to
Sep 30,2016
Sep 30,2015
Jun 30,2016
Sep 30,2015
Jun 30,2016
(Amounts in millions) (% growth) Revenue (GAAP) $
149.8 $ 141.0 $ 148.0
6.2 % 1.2 % Less: Payments to repair centers 6.0 7.7 7.2
(21.8 %) (15.9 %) Revenue less repair payments (Non-GAAP) $ 143.7 $
133.3 $ 140.8 7.8 % 2.1 % Exchange rate impact (1.8 ) (11.0 ) (5.1
)
Constant currency revenue less repair
payments (Non-GAAP)
$ 141.9 $ 122.3 $ 135.7 16.0 % 4.6 %
Reconciliation of cost of revenue (GAAP
to non-GAAP)
Three months ended Sep 30,
2016
Sep 30,2015
Jun 30,2016
(Amounts in millions) Cost of revenue (GAAP) $ 99.7
$ 90.5 $ 98.7 Less: Payments to repair centers 6.0
7.7 7.2 Less: Share-based compensation expense 0.8 0.4 0.6 Adjusted
cost of revenue (excluding payment to
repair centers and share-based
compensation
expense) (Non-GAAP)
$ 92.9 $ 82.4 $ 90.9
Reconciliation of gross profit (GAAP to
non-GAAP)
Three months ended Sep 30,
2016
Sep 30,2015
Jun 30,2016
(Amounts in millions) Gross profit (GAAP) $ 50.1
$ 50.5 $ 49.3 Add: Share-based compensation expense
0.8 0.4 0.6 Adjusted gross profit (excluding share-based
compensation expense) (Non-GAAP) $ 50.8 $ 50.9 $ 49.9
Three months ended
Sep 30,2016
Sep 30,2015
Jun 30,2016
Gross profit as a percentage of revenue (GAAP) 33.4 %
35.8 %
33.3 % Adjusted gross profit (excluding share-based compensation
expense) as a percentage of revenue less repair payments (Non-GAAP)
35.4 % 38.2 % 35.4 %
Reconciliation of selling and marketing
expenses (GAAP to non-GAAP)
Three months ended Sep 30,
2016
Sep 30,2015
Jun 30,2016
(Amounts in millions) Selling and marketing expenses (GAAP)
$ 8.0 $ 8.0 $ 7.7 Less: Share-based
compensation expense 0.5 0.2 0.3 Adjusted selling and marketing
expenses (excluding share-based compensation expense) (Non-GAAP) $
7.5 $ 7.8 $ 7.4
Three months
ended Sep 30,
2016
Sep 30,2015
Jun 30,2016
Selling and marketing expenses as a percentage of revenue (GAAP)
5.4 % 5.7 %
5.2 % Adjusted selling and marketing expenses (excluding
share-based compensation expense) as a percentage of revenue less
repair payments (Non-GAAP) 5.2 % 5.9 % 5.3 %
Reconciliation of general and
administrative expenses (GAAP to non-GAAP)
Three months ended Sep 30,
2016
Sep 30,2015
Jun 30,2016
(Amounts in millions) General and administrative expenses
(GAAP) $ 22.1 $ 20.4 $ 20.9 Less: Share-based compensation
expense 4.7 4.5 4.5
Adjusted general and administrative
expenses (excluding share-based compensation expense)
(Non-GAAP)
$ 17.5 $ 15.8 $ 16.4
Three months ended
Sep 30,
2016
Sep 30,2015
Jun 30,2016
General and administrative expenses as a percentage of revenue
(GAAP) 14.8% 14.5% 14.1%
Adjusted general and administrative expenses (excluding share-based
compensation expense) as a percentage of revenue less repair
payments (Non-GAAP) 12.1% 11.9% 11.6%
Reconciliation of operating profit
(GAAP to non-GAAP)
Three months ended Sep 30,
2016
Sep 30,2015
Jun 30,2016
(Amounts in millions) Operating profit (GAAP) $ 15.3
$ 19.3 $ 14.5 Add: Amortization of intangible assets
7.2 6.5 6.3 Add: Share-based compensation expense 6.0 5.1 5.4
Adjusted operating profit (excluding amortization of intangible
assets and share-based compensation expense) (Non-GAAP) $ 28.4 $
30.8 $ 26.3
Three months ended Sep
30,
2016
Sep 30,2015
Jun 30,2016
Operating profit as a percentage of revenue (GAAP) 10.2%
13.7% 9.8% Adjusted operating
profit (excluding amortization of intangible assets and share-based
compensation expense) as a percentage of revenue less repair
payments (Non-GAAP) 19.8% 23.1% 18.6%
Reconciliation of profit (GAAP) to ANI
(non-GAAP)
Three months ended Sep 30,
2016
Sep 30,2015
Jun 30,2016
(Amounts in millions) Profit (GAAP) $ 12.6 $
15.5 $ 12.2 Add: Amortization of intangible assets 7.2 6.5
6.3 Add: Share-based compensation expense 6.0 5.1 5.4 Adjusted net
income (Non-GAAP) as per our previous method of calculation $ 25.7
$ 27.1 $ 23.9
Less: Tax impact on amortization of
intangible assets(1)
2.0 1.7 1.6
Less: Tax impact on share-based
compensation expense(1)
1.7 1.3 1.2
Adjusted net income (excluding
amortization of intangible assets and share-based compensation
expense including tax effect thereon) (Non-GAAP)
$ 22.0 $ 24.2 $ 21.1
(1) The company applies GAAP methodologies
in computing the tax impact on its non-GAAP ANI adjustments
(including amortization of intangible assets and share-based
compensation expense). The company’s Non-GAAP tax expense is
generally higher than its GAAP tax expense if the income subject to
taxes is higher considering the effect of the items excluded from
GAAP profit to arrive at Non-GAAP profit.
Three months ended
Sep 30,2016
Sep 30,2015
Jun 30,2016
Profit as a percentage of revenue (GAAP) 8.4 %
11.0 % 8.2 % Adjusted net income as a
percentage of revenue less repair payments (Non-GAAP) as per our
previous method of calculation 17.9 % 20.3 % 17.0 %
Adjusted net income (excluding
amortization of intangible assets and share-based compensation
expense including tax effect thereon) as a percentage of revenue
less repair payments (Non-GAAP)
15.3 % 18.1 % 15.0 %
Reconciliation of basic income per ADS
(GAAP to non-GAAP)
Three months ended Sep 30,
2016
Sep 30,2015
Jun 30,2016
Basic earnings per ADS (GAAP) $ 0.25 $ 0.30 $ 0.24
Add: Adjustments for amortization of intangible assets and
share-based compensation expense 0.25 0.23 0.23
Adjusted basic earnings per ADS (Non-GAAP)
as per previous method of calculation
$
0.50
$
0.53
$
0.47
Less: Tax impact on amortization of
intangible assets and share-based compensation expense
0.07 0.06 0.05 Adjusted basic net income per ADS (excluding
amortization of intangible assets and share-based compensation
expense including tax effect thereon) (Non-GAAP) $ 0.43 $ 0.47 $
0.41
Reconciliation of diluted income per
ADS (GAAP to non-GAAP)
Three months ended Sep 30,
2016
Sep 30,2015
Jun 30,2016
Diluted earnings per ADS (GAAP) $ 0.24 $ 0.29
$ 0.23 Add: Adjustments for amortization of intangible assets and
share-based compensation expense 0.25 0.22 0.22 Adjusted diluted
earnings per ADS (Non-GAAP) as per previous method of calculation
$
0.49
$
0.51
$
0.45
Less: Tax impact on amortization of
intangible assets and share-based compensation expense
0.07 0.06 0.05 Adjusted diluted net income per ADS (excluding
amortization of intangible assets and share-based compensation
expense, including tax effect thereon) (Non-GAAP) $ 0.42 $ 0.46 $
0.40
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161020005612/en/
WNS (Holdings) LimitedDavid Mackey, +1 (201)
942-6261Corporate SVP–Finance & Head of Investor
Relationsdavid.mackey@wns.comorArchana Raghuram, +91 (22)
4095 2397Head – Corporate Communicationsarchana.raghuram@wns.com;
pr@wns.com
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