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EPAM sales jump to $1bn plus

Eastern European Integrator EPAM Systems reported Q4 and full year results, showing full year revenues up to $1.16 billion, a year-over-year increase of $246.0 million, or 26.9%. In constant currency, revenue was up 29.4% year-over-year.

"2016 was a milestone year for EPAM, we tripled revenues since our IPO, closing at over $1 billion. 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," said Arkadiy Dobkin (above), Chairman, CEO & President, EPAM.

Total headcount was 22,383 as of December 31, 2016, an increase of 22.0% from 18,354; total number of delivery professionals was 19,670 as of December 31, 2016, an increase of 22.3% from 16,078 as of December 31, 2015. Q4 showed a slight slowdown in growth with revenues at $313.5m, a year-over-year increase of $53.3m, or 20.5%.