Strong quarter boosts Convergys.(Stock Focus: CONVERGYS CORP. (NYSE--CVG))(Brief Article)
Multichannel News, October, 2005
Convergys shares soared nearly 20% ($2.68 per share) between Oct. 18 and Oct. 25 after the Cincinnati-based billing vendor reported third-quarter profit growth of 41%. Convergys said on Oct. 18 that net profits in the period totaled $42.4 million (30 cents per share), compared to $30.1 million (20 cents per share) in the same period last year.
Revenue edged up 1% to $644.8 million, compared to $639.9 million in 2004. Operating income increased 25% to $67 million. In a statement, Convergys said the bulk of that growth came from its Information Management Group, which provides billing and consulting services to telecom companies. Revenue at the IMG division was up 4% to $190.7 million and operating income rose 55% to $34.5 million.
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