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Image source: Luxoft Holding.

What: Shares of Luxoft Holding Inc. (NYSE:LXFT) jumped as much as 12.8% early Friday and traded up 8% as of 12:00 p.m. ET after the software development services and IT solutions company announced stronger-than-expected quarterly results.

So what: For its fiscal fourth-quarter ended March 31, 2016, Luxoft's revenue climbed 23.2% year over year, to $169.2 million, and would have risen 24.1% had it not been for the negative effects of currency exchange. Adjusted earnings before interest, taxes, depreciation, and amortization (EBTIDA) rose 25.3% year over year, to $26.5 million, or 15.7% of total revenue. Based on generally accepted accounting principles (GAAP), that translated to net income of $14.6 million and 59.3% growth in diluted earnings per share, to $0.43. On an adjusted (non-GAAP) basis, Luxoft's net income was $18.8 million and adjusted diluted EPS rose 21.7% year over year, to $0.56.

For the full fiscal year ended March 31, revenue rose 25% year over year, to $650.8 million, GAAP net income was $2.06 per diluted share, and adjusted net income was $92.9 million, or up 19.3% year over year, to $2.72 per share. 

For perspective, Luxoft's guidance provided last quarter called for lower full-year revenue of $645.5 million, GAAP earnings per diluted share of at least $2.05, and adjusted earnings of at least $2.60 per share. And Luxoft beat these expectations despite persistent currency headwinds and operating in a difficult macroeconomic environment.

"We are pleased to report that our business has been experiencing strong momentum on the business and operational fronts," added Luxoft CEO Dmitry Loschinin. "We have posted a solid increase in revenues and earnings, while decreasing client concentration and rebalancing sources of our revenue growth from the top customer to other prominent high potential accounts."

Now what: Luxoft also offered an encouraging look at the current fiscal year, calling for revenue to increase at least 20% year over year, to $780.9 million, including organic revenue growth of at least 15%. Meanwhile, adjusted EBITDA margin should improve to a range of 17% to 19%, GAAP earnings should be at least $2.10 per diluted share, and adjusted earnings should be at least $2.85 per share.

In the end, this was a solid report from the promising company as it capped its 16th straight year of growing both its top and bottom lines. As Luxoft expects to maintain that streak for the foreseeable future and with shares now trading at a reasonable 19.4 times next year's expected earnings, I see no reason the stock won't also continue to reward patient shareholders from here.

Steve Symington has no position in any stocks mentioned. The Motley Fool recommends Luxoft Holding. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.