EPAM Systems (NYSE:EPAM) makes money by providing IT services. The company's clients include technology companies and independent software vendors who use EPAM's software engineering services. EPAM operates industry specific verticals which can provide more specified support and services to its customers. They operate delivery centers in Central and Eastern Europe where technical talent is relatively inexpensive.
For the first nine months of September 2011, the full year revenues were $239M. This resulted in a net income of $32M. For the same period in 2010, EPAM reported revenues of $151M and a net income of $17M. 
The company's initial public offering of stock on the NYSE occurred on February 7, 2012. The company offered 6M shares each for $12. This was well below the $16-$18initial price range. The deal raised a total of $72M. The lead mangers of the deal were Citi, UBS, and Barclays.
EPAM's business model rests on its ability to benefit from the relatively low wages for talent in Central and Eastern Europe compared with those of its clients. This strategy requires that the talent is unable or unwilling to move to EPAM's clients' locations. It further needs the wages where its clients are located to remain relatively high while the labor force in competitor countries like India or China remain either not trained enough or too expensive. As a result, shifts in labor trends will have a significant impact on EPAM.