Luxoft announced financial results for three months ended June 30

August 15th, 2016

Luxoft Holding, Inc, the BVI company providing software development services and innovative IT solutions, announced financial results for the three months ended June 30, 2016. During the reported period, company’s US GAAP revenue amounted to US$178.0 mln, adjusted earnings before interest, taxes, depreciation and amortization was US$29.6mln, and EBITDA margin was 16.6 per cent.

Non-GAAP net income was US$21.0 mln, a year-over-year increase of 1.9 per cent. Diluted earnings per share was US$0.62, as compared to US$0.61 in the same quarter of the previous year. Luxoft’s revenue increased to US$178.0 mln for the three months ended June 30, 2016, from US$148.1 mln in the same period last year.

Also, Luxoft reiterated its original outlook for the financial year ended March 31, 2017. Revenue is expected to be at least US$781 mln, a year over year increase of at least 20 per cent. Adjusted EBITDA margin is expected in between 17 and 19 per cent. Diluted earnings per share is expected to be at least US$2.10 on a US GAAP basis and at least US$2.85 on a non-GAAP basis.

Dmitry Loschinin, Luxoft’s CEO and President, said in his comments on the results: “We expect that this year will be transformational for Luxoft, when we expand into new verticals and geographies and solidify our existing core verticals and global sales efforts. We believe that the short-term uncertainty driven by Brexit will spur us to make changes that will increase the resilience of our business and help us capitalize on numerous opportunities resulting from the migration of enterprise operations globally and massive regulatory changes around the world.”

ExpressVPN launched new app for routers

July 27th, 2016

ExpressVPN, the global VPN services provider incorporated in the BVI, announced the release of the latest app f or routers providing instant protection for every device connected to home Wi-Fi. Video game consoles and new gadgets can be covered by the ExpressVPN app for routers, the users only should install ExpressVPN once to instantly secure every device in their home.

The ExpressVPN for routers has many benefits, among them: faster speed up to 30Mbp, easy installation which could take as little as 15 minutes, improved connection rates, instant protection and some additional security features giving higher protection against DNS and IPS leaks.

Luxoft Holding chosen to provide new digital platform in partnership with Deloitte

July 20th, 2016

Luxoft Holding, Inc. and Deloitte Luxembourg announced the launch of DBoard – a digital platform where Deloitte’s clients can get a comprehensive and real-time project overviews. DBoard has the purpose to strengthen the user experience in professional services, and give instant access to dashboards, project reports, data and documents to company’s clients. Also, with the platform users get more control over their activities, new possibilities to analyze data, and simplified communication and exchange of information and documents.

Deloitte is targeting asset managers, asset servicers and banks operating global distribution networks. The new platform is hosted in Luxembourg.

BVI-based Luxoft was chosen as the partner for Deloitte’s project because of its expertise in digital technology developments, and for its existing component-based advanced visualization solution, Horizon, which could be used as accelerators in this type of engagement.

Euro Tech’s subsidiary signed $6mln contract

July 10th, 2016

BVI-registered Euro Tech Holdings Company Limited announced that its subsidiary, PACT Environmental Technology Company Ltd., has been awarded a contract with a foreign mobile phone company. The contract, which is US$6 million worth, is for design, supply, installation and commissioning of industrial wastewater treatment and scrubber systems for its OEM plants in Shanghai, Shenzhen and Zhengzhou regions, China.

Euro Tech’s subsidiary, PACT Environmental Technology Co. Ltd., is a Shanghai-based provider of environmental solutions for water and wastewater treatment for municipal and industrial clients. Company is working in manufacturing, design, sourcing, installation and servicing of water/wastewater treatment, water desalination plants and equipment.