Convergys posts drop in Q2 earnings
Global outsourcing firm Convergys Corp announced earnings for its second quarter had fallen from last year. Earnings came in at US$13.9 million, or US$0.14 per share. This compares with US$39.8 million, or US$0.40 per share, in last year’s second quarter. Excluding special items, Convergys Corp. reported adjusted earnings of US$35.7 million or US$0.36 per share for the period, in line with analysts’ expectations, however, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items. The company’s revenue for the quarter fell 5.4% to US$649.4 million from US$686.8 million last year. Andrea Ayers, Convergys president and CEO, said the company had delivered revenues, earnings and cash flow in Q2 consistent with its full-year expectations. It was in Q2 when Convergys announced that it had entered into a definitive agreement under which SYNNEX will acquire the company in a cash and stock transaction.
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