EPAM SYSTEMS, INC. EPAM Income Statement

Epam systems, inc. (EPAM)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Revenues
651,359	632,775	588,103	551,587	521,333	504,931	468,186	445,647	424,148	399,297	377,523	348,977	324,651	313,525	298,293	283,832	264,482	260,253	236,049	217,781	200,045	202,184	192,764	174,695	160,384	157,585	140,150	133,184	124,198	125,538	110,078	103,800	94,383	95,127	86,423	80,176	72,802
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization)
423,802	410,069	377,525	355,915	344,689	319,031	301,081	289,175	277,634	254,121	239,369	220,132	207,730	198,226	190,797	180,782	167,381	158,291	148,479	134,256	125,887	121,465	122,509	110,102	102,454	97,627	88,539	83,547	77,937	77,284	69,099	63,803	60,175	59,388	51,627	48,816	45,505
Selling, general and administrative expenses
125,108	124,999	118,886	111,762	101,786	97,447	93,226	93,273	89,641	85,430	81,732	81,143	79,283	71,432	67,491	64,241	61,494	64,414	55,431	55,976	46,938	49,761	42,875	38,671	32,359	32,980	27,893	28,541	27,083	26,377	21,153	20,711	17,627	18,510	15,822	16,805	13,793
Depreciation and amortization expense
14,940	12,962	11,127	11,028	10,200	10,183	9,319	8,962	8,176	7,696	7,174	7,020	6,672	6,237	5,925	6,123	5,102	4,899	4,393	3,903	4,200	2,833	5,510	5,451	3,689	3,743	3,906	3,854	3,617	3,208	3,040	2,423	2,211	1,806	2,083	1,959	1,690
Goodwill impairment loss
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,241	0	0	0	0	0	0	0	0	-	-	-	0	-	1,697	-
Other operating expenses, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-247	-178	-606	-174	-884	30	-40	-200	-1,869	-35	-1,995	-25	-43	418	293	-25	-13	-50	-33	-586	4	0	-21	-2
Operating Income (Loss)
87,509	84,745	80,565	72,882	64,658	78,270	64,560	54,237	48,697	52,050	49,248	40,682	30,966	37,383	33,902	32,080	30,331	31,765	27,776	23,606	22,820	24,015	21,835	18,476	21,857	23,192	20,230	17,535	15,536	18,656	16,736	16,830	13,784	15,427	16,891	10,878	11,812
Interest and other income, net
2,386	1,950	2,509	1,190	3,076	1,080	1,941	1,052	-551	1,799	1,416	802	584	1,432	1,067	1,138	1,211	1,409	865	1,299	1,158	1,368	1,261	1,164	976	832	846	769	630	519	486	460	476	422	385	428	187
Change in fair value of contingent consideration
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,924	0	0	0	0	0	0	0	-	-	-	-	-	-	-	-
Foreign exchange gain/(loss)
6,524	-1,898	-3,105	-3,562	-3,484	-582	-514	1,830	-247	-1,772	-77	1,562	-2,955	-6,765	-1,728	-2,295	-1,290	1,559	32	-465	-5,754	1,123	-718	-1,239	-1,241	-712	-720	-869	-499	-135	-635	-1,394	80	-500	-2,301	-703	-134
Income before provision for income taxes
96,419	84,797	79,969	70,510	64,250	78,768	65,987	57,119	47,899	52,077	50,587	43,046	28,595	32,050	33,241	30,923	30,252	34,733	28,673	24,440	18,224	24,582	22,378	18,401	21,592	23,312	20,356	17,435	15,667	19,040	16,587	15,896	14,340	15,349	14,975	10,603	11,865
Provision for income taxes
10,854	10,273	12,967	11,733	3,496	18,803	369	6,864	-16,519	82,951	7,953	5,687	4,954	7,287	7,067	6,493	6,353	7,095	5,800	5,209	3,510	6,159	3,338	3,587	4,228	4,553	3,919	3,317	2,987	4,041	2,522	2,575	2,241	2,965	1,025	2,326	2,123
Net Income (Loss) Attributable to Parent
85,565	74,524	67,002	58,777	60,754	59,965	65,618	50,255	64,418	-30,874	42,634	37,359	23,641	24,763	26,174	24,430	23,899	27,638	22,873	19,231	14,714	18,423	19,040	14,814	17,364	18,759	16,437	14,118	12,680	14,999	14,065	13,321	12,099	12,384	13,950	8,277	9,742
Unrealized (loss)/gain on cash-flow hedging instruments, net of tax
-9,368	-	-	-	3,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency translation adjustments, net of tax
-28,519	10,846	-10,114	2,620	2,943	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,345	-2,704	2,464	-1,612	-	-	-	-
Comprehensive income
47,678	86,741	54,725	62,934	66,797	52,798	63,426	32,345	67,796	-27,449	48,337	41,910	30,027	19,554	26,532	22,044	28,598	21,939	14,532	22,905	11,984	7,115	10,780	17,708	13,787	18,361	19,412	13,073	10,337	15,640	16,769	10,857	13,711	11,535	12,130	8,445	10,993
Net income allocated to participating securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,476	0	0	-3,135	-3,015	-7,822	-8,376	4,188
Accretion of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,292
Numerator for basic earnings per share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,793	14,065	13,321	8,964	9,369	6,128	-6,994	3,262
Earnings Per Share, Basic and Diluted [Abstract]
Basic (in dollars per share)
1.55	1.35	1.22	1.07	1.12	1.11	1.22	0.94	1.21	-0.58	0.81	0.72	0.46	0.49	0.51	0.49	0.48	0.56	0.47	0.40	0.31	0.39	0.40	0.31	0.37	0.40	0.36	0.31	0.28	0.33	0.33	0.31	0.30	-	-	-	-
Diluted (in dollars per share)
1.47	1.29	1.16	1.02	1.06	1.05	1.15	0.89	1.15	-0.58	0.77	0.68	0.44	0.46	0.49	0.46	0.45	0.52	0.44	0.37	0.29	0.37	0.38	0.30	0.35	0.38	0.34	0.29	0.27	0.31	0.30	0.29	0.27	-	-	-	-
Shares used in calculation of net income per share:
Weighted Average Number of Shares Outstanding, Basic
55,286	55,065	54,882	54,684	54,245	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	87,568	42,952	42	30,197	-	-	-	-
Weighted Average Number of Shares Outstanding, Diluted
58,142	57,969	57,848	57,616	57,236	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	94,779	46,501	46	33,957	-	-	-	-