Last $21.70 USD
Change Today +0.30 / 1.40%
Volume 402.6K
As of 8:04 PM 04/16/14 All times are local (Market data is delayed by at least 15 minutes).

convergys corp (CVG) Snapshot

Open
$21.55
Previous Close
$21.40
Day High
$21.78
Day Low
$21.49
52 Week High
01/7/14 - $24.43
52 Week Low
04/22/13 - $15.56
Market Cap
2.2B
Average Volume 10 Days
584.2K
EPS TTM
$1.07
Shares Outstanding
101.4M
EX-Date
03/19/14
P/E TM
20.4x
Dividend
$0.24
Dividend Yield
1.11%
Current Stock Chart for CONVERGYS CORP (CVG)

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convergys corp (CVG) Details

Convergys Corporation provides customer management business process outsourcing solutions for communications, financial services, technology, and other vertical markets worldwide. The company offers various customer lifecycle solutions comprising customer service, customer retention, technical support, business-to-consumer sales, complex device support, business-to-business sales and account management, back office, collections, quality assurance, and direct response services. It also provides contact center technology solutions, such as multichannel interaction solutions, cross-channel integration framework, real-time decisioning engine, intelligent notifications, campaign management, personalized care, personalized selling, agent productivity, retention, and credits services. In addition, the company offers analytics and consulting solutions, including post-contact surveys, relational loyalty research, segmentation and profiling, repeat call analysis, agent path analysis, customer interaction assessment, chat optimization, and integrated contact center analytics. The company operates approximately 75 contact centers and 49,000 production workstations. Convergys Corporation was founded in 1998 and is headquartered in Cincinnati, Ohio.

84,000 Employees
Last Reported Date: 02/28/14
Founded in 1998

convergys corp (CVG) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $733.6K
Chief Financial Officer
Total Annual Compensation: $401.9K
Senior Vice President of Global Operations
Total Annual Compensation: $391.8K
Senior Vice President and General Counsel
Total Annual Compensation: $320.1K
Compensation as of Fiscal Year 2013.

convergys corp (CVG) Key Developments

Convergys Corporation to Open New Office in Lublin, Poland

Convergys Corporation announced plans to open a new contact center in Lublin, Poland. The new facility will be located at the Lublin Nord Office Park, which is currently in final stages of construction. Convergys has already begun hiring for the first wave of positions to support the opening of the facility in May 2014. The company anticipates creating approximately 250 new jobs in Lublin by the end of 2014. As part of a new contract Convergys has with a major European wireless telecommunications provider, the company will provide customer support in German from the new site in Lublin. In addition, Convergys will work closely with its telecommunications client to identify and implement service innovations to help enhance customer satisfaction and the overall customer experience. The Lublin site will be the second location in Poland for Convergys, which recently acquired a facility in Szczecin as part of its March 3, 2014 acquisition of Stream Global Services.

Convergys Corporation Enters into Credit Agreement with Certain Lenders Thereto and Citibank, N.A

On February 28, 2014, Convergys Corporation entered into a Credit Agreement with certain lenders thereto and Citibank, N.A., as administrative agent for the Lenders and established an unsecured credit facility in the aggregate principal amount of $650 million. Under certain circumstances, Convergys will be permitted to increase the total credit facility available under the Credit Agreement by up to an additional $100 million. The Credit Agreement consists of term loans in the amount of $350 million and a revolving credit facility in the amount of $300 million. The conditions for the funding of the Term Loan and the Revolving Facility were satisfied on March 3, 2014. The Term Loan and the Revolving Facility each mature on the fifth anniversary of the Effective Date, unless extended pursuant to the terms of the Credit Agreement. The proceeds of the Term Loan will be used to finance the acquisition of Stream, including the refinancing of certain obligations of Stream and related transaction costs, and to refinance certain credit obligations of Convergys, including the Four-Year Competitive Advance and Revolving Credit Facility Agreement dated March 11, 2011 among Convergys, JPMorgan Chase Bank, N.A. and certain of the Lenders. The Revolving Facility will be used by Convergys only to refinance the Prior Credit Facility and for general corporate purposes (including working capital, refinancing indebtedness, and financing acquisitions). Outstanding amounts under the Term Loan will bear interest at a rate per annum, at Convergys' option, of either: Adjusted LIBOR plus 1.75% or a base rate plus 0.75%. Outstanding amounts under the Revolving Facility will bear interest at (x) Adjusted LIBOR plus the LIBOR Applicable Margin or (y) a base rate plus the ABR Applicable Margin. The LIBOR Applicable Margin will initially be 1.75% and thereafter be determined by the total net leverage ratio of Convergys and range between 2.25% if the total net leverage ratio is above 2.00 to 1 and 1.50% if the total net leverage ratio is less than or equal to 0.75 to 1. The ABR Applicable Margin will initially be 0.75% and thereafter be determined by the total net leverage ratio of Convergys and range between 1.25% if the total net leverage ratio is above 2.00 to 1 and 0.50% if the total net leverage ratio is less than or equal to 0.75 to 1. Convergys is required to pay a commitment fee on a quarterly basis on the unused portion of the Revolving Loans, which shall initially be 0.30% per annum of the average daily unused commitments and shall be adjusted periodically and thereafter be determined by the total net leverage ratio of Convergys and range between 0.50% if the total net leverage ratio is above 2.00 to 1 and 0.30% if the total net leverage ratio is less than or equal to 1.50 to 1. The Term Loan will amortize on a quarterly basis in amounts equal to: 1.25% of the original principal amount of the Term Loan for each of the first and second years after funding, 2.50% of the original principal amount of the Term Loan for each of the third, fourth and fifth years after funding, and the remainder of the outstanding principal amount will be due on the Maturity Date. Amounts repaid under the Term Loan may not be borrowed again under the Credit Agreement. The Revolving Facility will mature on the Maturity Date. Convergys may request that the Maturity Date with respect to the Revolving Facility be extended for up to an additional two years, subject to the provisions and conditions in the Credit Agreement. The loans under the Credit Agreement are jointly and severally guaranteed by certain subsidiaries of Convergys.

Convergys Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Convergys Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total revenues of $527.3 million against $508.8 million a year ago. Operating income was $39.5 million against $31.0 million a year ago. Income from continuing operations, net of tax was $24.5 million or $0.23 per diluted share against $30.2 million or $0.27 per diluted share a year ago. Net income was $24.9 million or $0.23 per diluted share against $32.0 million or $0.29 per diluted share a year ago. Adjusted operating income was $43.4 million against $37.8 million a year ago. Adjusted income from continuing operations, net of tax was $27.9 million or $0.26 per diluted share against $27.7 million or $0.25 per diluted share a year ago. EBITDA was $62.3 million against $55.5 million a year ago. Adjusted EBITDA was $66.2 million against $62.3 million a year ago. Net cash provided by operating activities was $60.7 million against $10.1 million a year ago. Free cash flow was $60.7 million against negative free cash flow of $26.0 million a year ago. Capital expenditures were $20.6 million against $36.1 million a year ago. For the full year, the company reported total revenues of $2,046.1 million against $2,005.0 million a year ago. Operating income was $137.4 million against $38.6 million a year ago. Income from continuing operations, net of tax was $104.9 million or $0.96 per diluted share against $28.2 million or $0.24 per diluted share a year ago. Net income was $107.3 million or $0.98 per diluted share against $100.6 million or $0.86 per diluted share a year ago. Adjusted operating income was $154.7 million against $146.5 million a year ago. Adjusted income from continuing operations, net of tax was $116.8 million or $1.07 per diluted share against $106.7 million or $0.91 per diluted share a year ago. was $233.3 million against $131.6 million a year ago. Adjusted EBITDA was $250.6 million against $239.5 million a year ago. Net cash provided by operating activities was $210.0 million against $113.0 million a year ago. Free cash flow was $146.2 million against $8.4 million a year ago. Capital expenditures were $63.8 million against $104.6 million a year ago.

 

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CVG

Industry Average

Valuation CVG Industry Range
Price/Earnings 39.9x
Price/Sales 1.1x
Price/Book 1.7x
Price/Cash Flow 14.3x
TEV/Sales 0.7x
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