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Convergys reports first quarter results
28 April 2010 , Written by Dhruv Tanwar
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Relationship management company Convergys Corporation announced its financial results for the first quarter of 2010.

 

Revenue from continuing operations was $546 million as compared to $625 million in Q1 2009. Earnings per diluted share were $0.28 and free cash flow during the quarter was $26 million. An additional $8 million cash distribution from the Cell Partnerships was not included in the free cash flow.

Operating income was $22 million, as compared with $41 million in the same period last year. Adjusted EBITDA were $71 million, compared with $85 million in the same period last year. Income net of taxes was $26 million, or $0.20 per diluted share, compared with $31 million, or $0.25 per diluted share, in the same period last year. Cash balance at March 31, 2010, was $108 million.

 

Convergys repaid $300 million of outstanding on its revolving credit facility and drew down approximately $50 million from its $125 million asset securitization facility. Net debt, which is long-term debt and debt maturing in one year less cash and cash equivalents, was $109 million at the end of the quarter.
 

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