Cincinnati - Convergys Corporation (NYSE: CVG), a global leader in providing customer care, human resources, and billing services, announced today its financial results for the third quarter of 2007.
Convergys third quarter revenues were $703.7 million. Growth in revenues from Employee Care and Customer Care was offset by a decline in Information Management primarily due to anticipated client migrations. Convergys operating income of $63.0 million increased 8 percent from the previous quarter and compared to $69.7 million in the same period a year ago. Net income of $41.8 million increased 8 percent from the previous quarter and compared to $45.2 million in the same period a year ago. Earnings in the third quarter were $0.30 per diluted share compared to $0.28 per diluted share in the previous quarter and $0.32 per diluted share in the same period a year ago.
Iím pleased to report that we successfully resolved the issues related to a large Employee Care contract. We also maintained strong profitability and international growth in our Information Management business during the quarter. In Customer Care, however, operating results continue to be below our expectations. As a result, weíre taking actions to drive additional operating efficiencies and revenue growth in that business, and we believe these actions will have a long-term positive effect,î said Dave Dougherty, President and CEO of Convergys. ìWeíre three quarters into the year and still plan on delivering record revenue and EPS in 2007, and expect record revenue and EPS next year as well.î
Convergys Reports Third-Quarter EPS of $0.30 -- Reaches HRO Contract Resolution
Resolution reached on a large HRO contract with no additional expensing of implementation costs expected
