MUMBAI, India & NEW YORK, Aug 16, 2007 (BUSINESS WIRE) -- WNS (Holdings) Limited (NYSE: WNS), a leading provider of offshore
business process outsourcing (BPO) services announced today that
following its earnings call earlier today it was verbally advised by
First Magnus Financial Corporation, one of its customers in the
mortgage business, that they expect to stop substantially all work WNS
does for them. First Magnus was expected to account for approximately
5% of WNS's revenue less repair payments for the period between 1 July
2007 and 31 March 2008. WNS expects that this event will have a
material adverse impact on its financial performance and the guidance
it had issued earlier today. WNS is in the process of evaluating the
impact of these events in detail and will release revised guidance as
soon as possible.
About WNS
WNS is a leading provider of offshore business process
outsourcing, or BPO, services. We provide comprehensive data, voice
and analytical services that are underpinned by our expertise in our
target industry sectors. We transfer the execution of the business
processes of our clients, which are typically companies located in
Europe and North America, to our delivery centers located primarily in
India. We provide high quality execution of client processes, monitor
these processes against multiple performance metrics, and seek to
improve them on an ongoing basis.
Our ADSs are listed on the New York Stock Exchange. For more
information, please visit our website at www.wnsgs.com.
Safe Harbor Statement under the provisions of the United States
Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, as defined
in the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These statements involve a number of
risks, uncertainties and other factors that could cause actual results
to differ materially from those that may be projected by these forward
looking statements. These risks and uncertainties include but are not
limited to a slowdown in the U.S. and Indian economies and in the
sectors in which our clients are based, a slowdown in the BPO and IT
sectors world-wide, competition, the success or failure of our past
and future acquisitions, attracting, recruiting and retaining highly
skilled employees, technology, legal and regulatory policy as well as
other risks detailed in our reports filed with the U.S. Securities and
Exchange Commission. These filings are available at www.sec.gov. We
may, from time to time, make additional written and oral
forward-looking statements, including statements contained in our
filings with the Securities and Exchange Commission and our reports to
shareholders. You are cautioned not to place undue reliance on these
forward-looking statements, which reflect management's current
analysis of future events. We undertake no obligation to publicly
update or revise any forward-looking statements, whether as a result
of new information, future events or otherwise.
SOURCE: WNS (Holdings) Limited
Investors
WNS (Holdings) Limited
Jay Venkateswaran, +1-212-599-6960
Senior VP -- Investor Relations
ir@wnsgs.com
or
Media
The Torrenzano Group
Al Bellenchia, +1-212-681-1700 ext. 156
abellenchia@torrenzano.com
