Convergys expects lower income in 2014 against earlier guidance

Convergys Corporation today said its revenue rose 46 percent to $736 million for the second quarter of 2014. Convergys said revenue in 2014 is expected to exceed $2.85 billion against prior guidance of $2.9 billion.

The BPO’s operating income grew 23 percent to $37 million.

Net Income increased to $36 million, or $0.34 per diluted share, compared with $28 million, or $0.26 per diluted share, in the same period last year.

Andrea Ayers, president and CEO at Convergys, said: “The integration of Stream is on track, which is driving contributions to revenue and profitability consistent with our expectations. We had several contract wins with existing and new clients in the quarter, and overall demand remains strong, particularly in the technology, financial services and other markets.”

Based on lower than anticipated volumes with some of our largest communications clients we are revising our revenue expectations, but our profit improvement expectations are unchanged and we are confirming our EBITDA and EPS guidance for the full year.”

The company also expects sequential increases in third-quarter and fourth-quarter results compared with second-quarter 2014 results.

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