To help readers understand our past financial performance and our future results, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP
, with non-GAAP financial measures.
* First quarter fiscal 2020 total non-GAAP Software and Services revenue of $260 million, a record quarterly high; total GAAP
Software and Services revenue of $240 million
Virtusa reported GAAP
income from operations of $23.0 million for the fourth quarter of fiscal 2019, an increase from $19.3 million for the third quarter of fiscal 2019 and $16.4 million for the fourth quarter of fiscal 2018.
A reconciliation between all GAAP
and non-GAAP information referenced above is contained in the tables below.
This reflects growth when compared with GAAP
earnings per share from continuing operations of USD0.58 in the second quarter of 2018.
The SEC defines a non-GAAP financial measure as a numerical measure of a registrant's historical or future financial performance, financial position, or cash flows that adjusts selected amounts from the most directly comparable GAAP
revenue of USD186.8m were collected for the third quarter of 2017, a rise of USD5.9m (3.3%) over the second quarter of 2017 and USD10.1m (5.7%) from the third quarter of 2016, respectively.
Operating Income: USD13.2 million GAAP
compared to USD22.3 million in the third quarter of 2015.
In so doing, however, they have stretched the historic meaning of "appropriate adjustments" and widened the gap between the GAAP
numbers reported for net income and the non-GAAP numbers reported as adjusted net income.
Financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP
) don't always tell the whole story of a company's performance.