Last10K.com

Epam Systems, Inc. (EPAM) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Epam Systems, Inc.

CIK: 1352010 Ticker: EPAM



image0a02.jpg
Exhibit 99.1
EPAM Reports Results for Second Quarter 2017

Second quarter revenues of $349.0 million, up 23.0% year-over-year
GAAP Diluted EPS of $0.68 for the second quarter
Non-GAAP Diluted EPS of $0.80 for the second quarter

Newtown, PA — August 3, 2017 — EPAM Systems, Inc. (NYSE: EPAM), a leading global provider of digital platform engineering and software development services, today announced results for its second quarter ended
June 30, 2017.

“Our Q2 results underscore the strong demand we continue to see for our high-value digital business solutions,” said Arkadiy Dobkin, CEO & President, EPAM. “The combination of our core engineering, digital design expertise and our expanding consultative capabilities reinforces our leadership position, making us an ideal partner for clients facing disruption.”

Second Quarter 2017 Highlights
Revenues increased to $349.0 million, a year-over-year increase of $65.1 million, or 23.0%. Stronger than expected revenue performance in the second quarter was driven by favorable movements in exchange rates and stronger revenue production;
In constant currency, revenue was up 23.7% year-over-year;
GAAP income from operations was $40.7 million, an increase of $8.6 million or 26.8% compared to $32.1 million in the second quarter of 2016;
Non-GAAP income from operations was $55.8 million, an increase of $8.2 million, or 17.2%, compared to $47.6 million in the second quarter of 2016;
Diluted earnings per share (EPS) on a GAAP basis was $0.68, an increase from $0.46 in the second quarter of 2016;
Non-GAAP diluted EPS was $0.80, an increase from $0.71 in the second quarter of 2016 based on a weighted average share count of 54.8 million fully diluted shares outstanding.
Cash Flow from Operations
Cash from operations was $59.1 million for the first half of 2017, up from $49.4 million for the first half of 2016;
Cash and cash equivalents totaled $443.5 million as of June 30, 2017, an increase of $81.5 million or 22.5% from $362.0 million as of December 31, 2016.
Other Metrics
Total headcount was 23,233 as of June 30, 2017, an increase of 11.9% from 20,761 as of June 30, 2016;
Total number of delivery professionals was 20,414 as of June 30, 2017, an increase of 12.1% from 18,206 as of June 30, 2016.



The following information was filed by Epam Systems, Inc. (EPAM) on Thursday, August 3, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Epam Systems, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Epam Systems, Inc..

Continue

Assess how Epam Systems, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Epam Systems, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (unaudited)
Condensed Consolidated Balance Sheets (unaudited) (parenthetical)
Condensed Consolidated Statements Of Cash Flows (unaudited)
Condensed Consolidated Statements Of Income And Comprehensive Income (unaudited)
Commitments And Contingencies
Debt
Debt (details)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Financial Liabilities At Fair Value On Recurring Basis (details)
Fair Value Measurements Fair Value Measurements - Financial Assets And Liabilities Not Measured On Recurring Basis (details)
Goodwill
Goodwill (tables)
Goodwill - Narrative (details)
Goodwill - Roll Forward (details)
Income Taxes
Income Taxes (details)
Recent Accounting Pronouncements
Recent Accounting Pronouncements Recent Accointing Pronouncements (policies)
Recent Accounting Pronouncements Recent Accounting Pronouncement - Asu 2016-09 (details)
Segments Information
Segments Information (tables)
Segments Information - Geographical Information Of Long-lived Assets Based On Physical Location (details)
Segments Information - Major Customers (details)
Segments Information - Reconciliation Of Segment Revenues To Consolidated Revenues And Segment Operating Profit To Consolidated Income Before Provision For Income Taxes (details)
Segments Information - Revenues By Client Location (details)
Segments Information - Revenues From External Customers And Operating Profit/(loss) Before Unallocated Expenses (details)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Costs Related To Stock Compensation Plans (details)
Stock-based Compensation - Equity Plans Additional Information (details)
Stock-based Compensation - Restricted Stock And Restricted Stock Units Activity (details)
Stock-based Compensation - Restricted Stock And Restricted Stock Units Additional Information (details)
Stock-based Compensation - Stock Option Activity (details)
Stock-based Compensation - Stock Option Additional Information (details)
Stock-based Compensation Stock-based Compensation - Modifications (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Reclassification (details)
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (tables)

Material Contracts, Statements, Certifications & more

Epam Systems, Inc. provided additional information to their SEC Filing as exhibits

Ticker: EPAM
CIK: 1352010
Form Type: 10-Q Quarterly Report
Accession Number: 0001352010-17-000031
Submitted to the SEC: Mon Aug 07 2017 8:57:03 PM EST
Accepted by the SEC: Tue Aug 08 2017
Period: Friday, June 30, 2017
Industry: Computer Programming Services

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/epam/0001352010-17-000031.htm