NEWTOWN, Pa. (AP) _ Epam Systems Inc. (EPAM) on Thursday reported first-quarter profit of $109 million.

The Newtown, Pennsylvania-based company said it had net income of $1.86 per share. Earnings, adjusted for non-recurring gains, came to $1.81 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.68 per share.

The information technology services provider posted revenue of $780.8 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $765.9 million.

For the current quarter ending in July, Epam expects its per-share earnings to range from $1.88 to $1.95.

The company expects full-year earnings in the range of $7.54 to $7.76 per share.

Epam shares have increased 29% since the beginning of the year. The stock has more than doubled in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EPAM at https://www.zacks.com/ap/EPAM

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