Convergys Q1 Profit Declines - Quick Facts

(RTTNews) - Convergys Corp. (CVG) said that its first-quarter net income declined to $14.2 million or $0.13 per share, from $25.1 million or $0.23 per share in the comparable quarter last year.

GAAP net income from continuing operations was $13.7 million or $0.13 per share, compared with $30.2 million or $0.27 per share, in the same period last year.

Adjusted net income from continuing operations was $34.0 million or $0.32 per share, compared with $30.9 million, or $0.28 per share, in the same period last year.

Revenue was $605.7 million, up 23% from $493.5 million in the same period last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share and revenues of $589.31 million for the quarter. Analysts' estimates typically exclude special items.

Convergys announced that its Board of Directors approved a 17 percent increase in the quarterly dividend to $0.07 per share. The first dividend payment of $0.07 per share is scheduled to be made on July 3, 2014, to shareholders of record at the close of business on June 19, 2014.

For fiscal 2014, the company expects adjusted earnings in the range of $1.45 per share to $1.50 per share and revenue to exceed $2.9 billion. Analysts currently expect earnings of $1.40 per share on revenues of $2.89 billion.