Outsourcing Leader Luxoft Delivers Double-Digit Quarterly, and Year-to-Year Growth in Revenue, Clients and Employees
Oct 11, 2007
Driven by Strong Demand from European, and US Multinationals for High-End Outsourcing Skills that Create Business Process as well as and Technical Value
Luxoft, Russia’s largest provider of high-end IT outsourcing services and product development to clients such as Deutsche Bank, IBM, UBS, T-Mobile and Ping Identity, today announced that its Q1 FY 2007 performance showed strong growth in Q1 FY07 over Q1 FY 2006 across revenues, clients and headcount compared with Q1 FY06. The company has posted double-digit-plus growth each quarter since its formation in 2000.Revenue for the quarter was $27.87M, up from $11.89M, representing a 134-percent increase over Q1 FY2006.
Revenue growth is the result of a 52.953-percent increase in new customers, driven by a strong demand from European clients for nearshore partners as well US multinationals’ continuing call for solid global capabilities which Luxoft provides through locations in Eastern Europe, Europe, the UK, Russia, the US and Canada.
This demand centers around on Luxoft’s ability to provide high-end outsourcing services that go beyond pure tactical programming to the creation and reinvention of core business and technical processes. For example, Luxoft’s cutting-edge embedded systems development can support a broad variety of industries, employing top-notch expertise in hardware platforms, electronic components, real-time operating systems (RTOS), embedded programming and tools. The company also offers significant telecommunications expertise in Service Delivery Platforms (SDP) and Operational Support Systems (OSS), specifically in solutions IP telephony, IP TV and digital multimedia broadcasting solutions as well as in migration to next-generation networks.
Additionally, Luxoft’s Premium offerings, which include architecture security, process consulting and performance services, provide outstanding performance improvements to IT products and also help to create customized high-performance and security practices in the clients’ work environment.
To meet growing demand from new clients, and to continue to strengthen its global talent pool for existing clients, Luxoft also added 727 new employees, a 45 percent rise, bringing total global headcount to over 2,300 people by the end of Q1 2007. Added over the past 12 months, Luxoft’s new offices, added over the past 12 months, in Vancouver, British Columbia and Odessa and Dnepropetrovsk, Ukraine, accounted for the majority of this headcount growth.
Bringing together these various success factors, this past summer Luxoft recently announced a concentration on three-pronged strategic areas initiative designed to continue to drive the company’s growth and bring increasing business value to clients including through the creationg of vertical industry practices (financial services, aerospace, transportation, education, software, industrial/manufacturing, energy & utilities, media, and telecom,),; the offering of new premium services (Gap Analysis, Architecture Vision, and Security and Quality Assessments), and the expanding expansion of Luxoft’s global talent pool globally.
"What is so exciting ignificant about our growth is that we’re not talking about growth for growth’s sake or basing it on acquisitions," said Dmitry Loschinin President and CEO of Luxoft. " Luxoft’s growth stems purely from our ability to provide top-shelf global and nearshore talent in a tight labor market, to deliver high end IT outsourcing services that help reshape businesses, and to bring strong management skills that ensure high quality and tangible, measurable results," said Dmitry Loschinin President and CEO of Luxoft..."