Business
EXL Releases Statement on COVID-19 Impact and Withdraws 2020 Guidance
NEW YORK, March 23, 2020 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a leading operations management and analytics company, today announced
About this update from Exlservice Holdings, Inc.
[{"type":"text","content":"NEW YORK, March 23, 2020 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ: EXLS), a leading operations management and analytics company, today announced that it is withdrawing the Company’s 2020 annual guidance. Several of the Company’s operation centers have been and may continue to be affected by local restrictions on facilities access. EXL has implemented business continuity measures, such as remote working, where applicable to continue operations and is partnering closely with clients to provide required support to their businesses.\n Until there is clarity on the duration and severity of the COVID-19 situation, EXL is withdrawing its 2020 annual guidance. At this time, the impact of COVID-19 on future revenues, profitability and our overall business cannot be accurately assessed. EXL intends to reassess its annual guidance in April and hopes to have better clarity for 2020 when the Company releases its first quarter results. The Company continues to maintain a strong cash and liquidity position. As of the end of December 31, 2019, the Company had a net positive cash position of $71.5 million with cash and short term investments of $321.4 million and total borrowings of $249.9 million. Since December 31, 2019, there have been no significant changes to the Company’s net cash position. About ExlService Holdings, Inc. EXL (NASDAQ: EXLS) is a leading operations management and analytics company that helps our clients build and grow sustainable businesses. By orchestrating our domain expertise, data, analytics and digital technology, we look deeper to design and manage agile, customer-centric operating models to improve global operations, drive profitability, enhance customer satisfaction, increase data-driven insights, and manage risk and compliance. Headquartered in New York, EXL has more than 31,700 professionals in locations throughout the United States, the UK, Europe, India, the Philippines, Colombia, Australia and South Africa. EXL serves multiple industries including insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics, media and retail, among others. For more information, visit www.exlservice.com. Continuing Statement Regarding Forward-Looking Statements This press release contains forward-looking statements. You should not place undue reliance on those statements bec...