BPO firm Convergys posted revenue of $689 million (–9 percent) with operating income of $52 million and net income of $9 million and EBITDA of $84 million in Q4 2017.
“Revenue and operating profit decreased primarily due to volume fluctuations with our largest communications and technology clients,” said Andrea Ayers, president and CEO of Convergys.
| Three Months Ended | Twelve Months Ended | |||||||||||||
| December 31, | % | December 31, | % | |||||||||||
| (Amounts in millions except per share amounts) | 2017 | 2016 | Change | 2017 | 2016 | Change | ||||||||
| Revenues: | ||||||||||||||
| Communications | $301.2 | $350.5 | (14 | )% | $1,274.0 | $1,442.1 | (12 | )% | ||||||
| Technology | 139.6 | 151.2 | (8 | )% | 570.7 | 623.8 | (9 | )% | ||||||
| Financial Services | 56.1 | 59.9 | (6 | )% | 237.4 | 217.5 | 9 | % | ||||||
| Other | 192.5 | 196.3 | (2 | )% | 710.0 | 630.2 | 13 | % | ||||||
| Total Revenues | $689.4 | $757.9 | (9 | )% | $2,792.1 | $2,913.6 | (4 | )% | ||||||
Convergys reported revenue of $2,792 million (–4 percent) with operating Income of $197 million, Adjusted EBITDA of $351 million and net income of $121 million in 2017.
The US-based technology outsourcing company reported 14 percent drop in revenue from communications business, 8 percent dip in technology clients and 6 percent decline in financial services clients.
Convergys said it is expecting constant currency revenue in 2018 to decrease by up to 7 percent, including 5 percent to 6 percent impact from significant volume fluctuations with the company’s largest two clients.
