Convergys Q2 Profit Rises; Backs FY14 Outlook

(RTTNews) - Convergys Corp. (CVG) said that its second-quarter net income declined to $24.7 million or $0.23 per share, from $23.4 million or $0.22 per share in the comparable quarter last year.

GAAP net income from continuing operations rose to $24.9 million or $0.23 per share from $22.0 million or $0.20 per share, in the same prior year period.

Adjusted net income from continuing operations for the latest second quarter was $36.4 million or $0.34 per share, compared to $28.3 million, or $0.26 per share, in the same period last year.

Revenue was $736.4 million, up 46% from $504.3 million in the comparable quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share on revenues of $732.69 million for the quarter. Analysts' estimates typically exclude special items.

For fiscal 2014, the company continues to expect 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 $1.47 per share on revenues of $2.92 billion.

Further, the company said its next dividend payment of $0.07 per share is scheduled to be made on October 3, 2014, to shareholders of record at the close of business on September 19, 2014.