$CVG (Convergys Corporation)

$CVG {{ '2016-01-20T18:56:57+0000' | timeago}} • Announcement

Customer management company $CVG said it is adding 200 new positions at its call center in Chilliwack as part of expanding its operations to include technical support roles for a major client in the telecommunications industry.

$CVG {{ '2016-11-09T17:54:00+0000' | timeago}} • Webcast

$CVG reported that it has not seen any impact to-date in Philippines where 47% of its employees work. The clients are pleased with the work and situation in Philippines is same as it was six months or a year ago, the company said.

$CVG {{ '2016-11-09T17:47:14+0000' | timeago}} • Webcast

For 4Q16, $CVG expects profitability to be similar to 3Q16. Profitability will be hurt by continued volume fluctuations with clients in the communications industry and further investment in agent training and infrastructure.

$CVG {{ '2016-11-09T17:39:59+0000' | timeago}} • Webcast

During 3Q16, $CVG signed new business worth approx. $160MM in 2017 revenue. The company won business with more than 24 clients, including several contracts with existing and new clients.

$CVG {{ '2016-11-09T17:32:18+0000' | timeago}} • Webcast

Call center outsourcer $CVG reported that 3Q16 revenue came in below its expectations. Revenue was impacted by slower than anticipated seasonal ramps with a few clients in the technology and healthcare industries and continued softness in call volumes with several communication clients in the U.S. and Europe.

$CVG {{ '2016-11-08T21:57:07+0000' | timeago}} • Announcement

For 2016, $CVG expects consolidated constant currency revenue growth to be flat. Adjusted EPS is expected to grow 4-5%. Consolidated adjusted EBITDA margin is expected to approximate 12.5%. Adjusted effective tax rate is expected to be approx. 19%.

$CVG {{ '2016-11-08T21:54:19+0000' | timeago}} • Announcement

In 3Q16, revenues in $CVG’s Communications segment declined 6% to $377.9MM. In the Technology segment, revenues decreased 3% to $154.3MM. Revenues in Financial Services increased 3% to $51.8MM. Other revenues increased 19% to $157.2MM.

$CVG {{ '2016-11-08T21:47:20+0000' | timeago}} • Announcement

Customer management services provider $CVG reported a decrease in 3Q16 earnings. Net income was $47.7MM or $0.46 per share, down 18% compared to 3Q15. Revenues remained flat at $741MM compared to the prior year.

$CVG {{ '2016-08-09T18:39:02+0000' | timeago}} • Webcast

$CVG said that it expects capital expenditures to increase through the rest of 2016 as it builds out facilities and infrastructure to support the new programs.

$CVG {{ '2016-08-09T18:26:23+0000' | timeago}} • Webcast

In 3Q16, $CVG expects its profitability to be negatively impacted by further investment in agent training and infrastructure in support of substantial new program ramps for the remainder of the year. On a year-over-year basis, $CVG expects to return to constant currency organic revenue growth beginning in 4Q16.

$CVG {{ '2016-08-09T18:19:06+0000' | timeago}} • Webcast

$CVG, which recently acquired the Germany-based BPO company buw for $135MM, said that it experienced constant currency growth with several existing and new clients in 2Q16. The company grew with 9 of its top 20 clients. During 2Q16, $CVG signed new business worth approx. $140MM in 2017 revenue and won business with over two dozen clients.

$CVG {{ '2016-08-08T21:10:08+0000' | timeago}} • Announcement

CEO Andrea Ayers said that while revenue came in slightly below $CVG's expectations due to call volume softness with clients in the communications industry, currently ramping programs and recent client wins keep the company on track for organic constant currency revenue growth beginning later this year.

$CVG {{ '2016-08-08T21:08:27+0000' | timeago}} • Announcement

$CVG revised its 2016 guidance to reflect contribution from buw acquisition. $CVG revised 2016 constant currency revenue growth guidance to about 2% from prior forecast of 0%. The company continues to expect organic constant currency revenue growth of about 0%. $CVG revised adjusted EPS growth outlook to 7-9% from prior estimate of 5-8%.

$CVG {{ '2016-08-08T21:04:34+0000' | timeago}} • Announcement

Customer management company $CVG reported a 14% growth in 2Q16 earnings driven by lower costs and expenses. Net income rose to $33.2MM or $0.32 per share from $29MM or $0.28 per share last year. Revenues slid 3% to $692.3MM. Adjusted EPS increased 24% to $0.41.

$CVG {{ '2016-08-01T13:26:36+0000' | timeago}} • Announcement

Customer management company $CVG said it completed the acquisition of German BPO company, buw. With buw's client base and capabilities, $CVG becomes the second largest outsourced customer services provider in Germany. The deal creates a team of about 7,000 professionals in 19 sites and four countries to serve the growing EUR3Bil market.

$CVG {{ '2016-07-07T16:12:19+0000' | timeago}} • Announcement

$CVG said it agreed to buy Germany-based buw for EUR 123MM in cash. $CVG also announced the transaction is expected to add to its earnings, excluding one-time charges, intangible amortization and integration costs. $CVG and buw expect to close the transaction during 3Q16.

$CVG {{ '2016-05-10T14:09:05+0000' | timeago}} • Webcast

Wells Fargo analyst William Warmington questions on the progression of organic growth for the year. $CVG CFO Andre Valentine says that for 2Q16, it would be down 3-4% sequentially. By applying some currency impact YoverY, it would be down about 1%. Due to the YoverY GAAP shrink, there will be modest YoverY growth in 2H16.

$CVG {{ '2016-05-10T14:03:15+0000' | timeago}} • Webcast

SunTrust analyst Frank Atkins follows up by asking on allocation of capital in the M&A environment. CFO Andre Valentine says that $CVG has a strong free cash flow generation and it will look for things that would be accretive to the platform. $CVG is looking for client diversifications, diversifying revenue streams and geographic diversification.

$CVG {{ '2016-05-10T14:03:05+0000' | timeago}} • Webcast

SunTrust analyst Frank Atkins follows up by asking on allocation of capital in the M&A environment. CFO Andre Valentine says that $CVG has a strong free cash flow generation and it will look for things that would be accretive to the platform. $CVG is looking for client diversifications, diversifying revenue streams and geographic diversification.

$CVG {{ '2016-05-10T13:55:03+0000' | timeago}} • Webcast

SunTrust analyst Frank Atkins questions about the demand outside the US, especially in Europe and other areas, as well as drivers of growth there. CEO Andrea Ayers says that $CVG is seeing good solid demand outside the US in a wide variety of vertical markets.

$CVG {{ '2016-05-10T13:51:04+0000' | timeago}} • Webcast

For 1Q16, $CVG's CapEx was low, reflecting the timing of capacity additions. The company expects 2016 CapEx to increase as it builds out facilities and infrastructure and supported new programs. At the end of 1Q16, the company had cash and short-term investments of $233MM, of which about 90% is held offshore.

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