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EPAM Hits $1 Bln Revenue Target For 2016

EPAM, Belarus biggest software developer and resident of the Hi-Tech Park, has achieved the revenue target and earned $1.16 billion for full year 2016.

The company increased its earnings by 26.9% year-over-year, its financial report states.

epam revenue 2016

Picture: EPAM Global/Facebook

The company’s revenues increased to $313.5 million, or 20.5% compared to 2015.  The GAAP income from operations was $37.4 million, and the software developer expects that the revenue growth for fiscal 2017 will be at least 20%.

It’s not reported how much of the revenue is generated by the Belarusian office.

According to EPAM’s President, 2016 was a milestone year for the company that tripled revenues since its IPO.

“Our continued evolution in extending our Engineering DNA into a full spectrum of services for Digital Business has positioned EPAM as a new breed of service provider, keeping us relevant to clients navigating dynamic market demands,” Arkadiy Dobkin is quoted in the press release.

EPAM, a Belarus-born company, is the largest software developer and service provider in Central and Eastern Europe. The company was founded in 1993 by Arkady Dobkin and his schoolmate Leonid Lozner.

Headquartered in Newtown (Pennsylvania, USA), EPAM Systems has offices in 25 countries and employs over 20 thousand people.

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The company is a resident of Belarus Hi-Tech Park. It is the only company with Belarusian roots, represented at the New York Stock Exchange. Such companies as Google, Coca-Cola, Volkswagen, Gazprom are among EPAM’s clients.