ExlService net income up 27% y-o-y

The company added 10 clients during the quarter, including five outsourcing clients, five transformation clients

Business process outsourcing services provider ExlService reported a net income of $12.2 million for the quarter ended December 31, 2012, up 27% from $9.6 million for the quarter ended December 31, 2011.

Revenue for the quarter grew 14.7% at $117.7 million comapred to $102.6 million in the same quarter last year.

For the full year, the Nasdaq listed company reported a net income of $41.8% -- and revenue was up 22.8% at $442.9 million. The company managed to meet the lower level of its revenue guidance for the full year. ExlService had guided for an annual revenue of $442 million to $444 million for 2012.

For 2013, the company gave a revenue guidance in the range of $495 million to $505 million, representing annual growth rate of 12% to 14%.

"2012 was a year of strong growth and continued investment at EXL. We added 41 new clients, including 17 in analytics, where we have built a leading presence serving retail banks, as well as six in finance and accounting. We added several key executives to our senior leadership team. We made significant investments to develop in-house domain expertise by launching the EXL Center for Talent in India and our Healthcare Academy in the Philippines,” said Rohit Kapoor, Vice Chairman and CEO, ExlService.

The company added 10 clients during the quarter, including five outsourcing clients and five transformation clients.

The headcount for ExlService grew to 21,049, compared to 20,095 as of September 30, 2012. Employee attrition for the year ended December 31, 2012 was 29.3%.