Luxoft lowers FY18 EPS view to $2.77-$2.85 from at least $2.85, consensus $2.90
Lowers FY18 revenue view to $900M-$905M from $920M, consensus $922.44M. CEO Dmitry Loschinin says: "Looking ahead, we expect our full-year results to be affected by lower revenue from two large acquired telecom and healthcare clients. This is primarily the result of our de-emphasizing lower-margin, non-core business and strategically aligning our resources with an expanding number of attractive, higher-margin opportunities. While this will impact our revenue generation this fiscal year, we believe these actions position the Company more competitively in the long term. As a result, we currently expect our full-year fiscal 2018 revenue to be in the range of $900-905 million, down approximately 2%, and our adjusted EBITDA margin to be in the range of 15.0-15.2%. Despite this near-term challenge, our confidence in the business remains strong. We see a number of attractive growth opportunities across our verticals, and we are confident we have the right strategy to further build our long-term growth potential and deliver increasing value to shareholders. The entire Luxoft team is focused on driving improved execution and entering fiscal 2019 with momentum across our business as we further implement our revenue diversification and business optimization strategies."