Company Overview of Convergys Corporation
Convergys Corporation provides customer management services to communications and media, technology, financial services, retail, and healthcare industries in North America and internationally. The company offers solutions across the customer lifecycle, including revenue generation, customer service, technical support, customer retention, and collection services; and solutions in contact center technology comprising multichannel interaction, cross-channel integration framework, real-time decisioning engine, intelligent notification, campaign management, personalized care, personalized selling, agent productivity, and retention solutions. It also offers analytics and consulting solutions, incl...
201 East Fourth Street
Cincinnati, OH 45202
Founded in 1998
Key Executives for Convergys Corporation
Chief Executive Officer, President, Director and Member of Executive Committee
Total Annual Compensation: $867.1K
Chief Financial Officer
Total Annual Compensation: $450.1K
Chief Operating Officer
Total Annual Compensation: $80.8K
Compensation as of Fiscal Year 2014.
Convergys Corporation Key Developments
Convergys Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015
Nov 4 15
Convergys Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. The company announced adjusted income from continuing operations in third quarter of 2015 rose to $46.4 million, or $0.45 per diluted share topping the prior year rate of $44.7 million, or $0.42 per diluted share. Revenue fell to $741.6 million from $749.5 million in third quarter of 2014. Operating income was $47.8 million compared to $42.0 million a year ago. Income before income taxes and discontinued operations was $40.6 million compared to $36.4 million a year ago. Income from continuing operations, net of tax was $57.6 million or $0.55 per diluted share, compared to $30.0 million or $0.28 per diluted share, a year ago. Net income was $58.1 million or $0.56 per diluted share, compared to $32.8 million or $0.31 per diluted share, a year ago. EBITDA (a non-GAAP measure) was $87.0 million compared to $88.4 million a year ago. Adjusted EBITDA (a non-GAAP measure) was $90.1 million compared to $96.7 million a year ago. Net cash provided by operating activities was $49.9 million compared to $115.7 million a year ago. Capital expenditures were $36.8 million compared to $30.2 million a year ago. GAAP results in the third quarter included $7 million of amortization for acquired intangible assets, $5 million of depreciation from the fair value writeup of acquired property and equipment and $3 million of integration costs related to Stream. GAAP results also included tax benefits of $17 million related to the reversal of a prior reserve and a $4 million adjustment related to prior cash repatriation activities. The company generated $17 million of adjusted free cash flow in this quarter.
For the nine months, the company’s total revenues were $2,198.8 million compared to $2,091.6 5 million a year ago. Adjusted income from continuing operations, net of tax was $130.4 million, or $1.25 per diluted share compared to $115.0 million, or $1.09 per diluted share a year ago. Operating income was $133.3 million compared to $100.9 million a year ago. Income before income taxes and discontinued operations was $119.7 million compared to $83.7 million a year ago. Income from continuing operations, net of tax was $125.8 million or $1.20 per diluted share, compared to $68.5 million or $0.65 per diluted share, a year ago. Net income was $126.4 million or $1.21 per diluted share, compared to $71.7 million or $0.68 per diluted share, a year ago. EBITDA (a non-GAAP measure) was $262.3 million compared to $221.7 million a year ago. Adjusted EBITDA (a non-GAAP measure) was $270.1 million compared to $258.5 million a year ago. Net cash provided by operating activities was $182.7 million compared to $207.4 million a year ago. Capital expenditures were $88.4 million compared to $86.5 million a year ago. Year-to-date adjusted free cash flow was $105 million. During the quarter, free cash flow was impacted by the timing of cash collections from clients.
The company provided earnings guidance for the fourth quarter of 2015. The company announced that it sees fourth quarter of 2015 revenue of $750 million to $760 million. The firm's projection includes a $15 million negative impact of foreign exchange rates compared with 2014. Adjusted EPS is seen between $0.45 to $0.50. The company is expecting its adjusted EBITDA of $98 million to $102 million; and adjusted effective tax rate of approximately 23%. Not included in this outlook are acquisition-related impacts such as integration costs, intangible amortization and depreciation related to the fair value write-up of acquired property and equipment, and tax expense associated with cash repatriation. Also not included are impacts from future currency movements, non-cash pension settlement charges, significant discrete tax adjustments or any future share repurchase activities.
Convergys Corporation Announces Quarterly Dividend, Payable on January 8, 2016
Nov 4 15
Convergys Corporation announced quarterly dividend payment of $0.08 per share is scheduled to be made on January 8, 2016, to shareholders of record at the close of business on December 24, 2015.
Omaha Office of Convergys Corp. to Cut 191 Workers
Oct 31 15
The Omaha office of Convergys Corp. is preparing to shed almost two-thirds of its approximately 300-person workforce due to the end of a contract with an existing client. The company said it could cut 191 employees from its west Omaha office in late January.
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