Convergys revenue up 1% in Fourth Quarter

[MikeLigalig.com]

Convergys revenue up 1% in Fourth Quarter

Convergys Corp said fourth quarter 2016 revenue grew only 1% to USD758m from USD751.8 a year earlier. The revenue figure for the quarter included USD8m adverse foreign currency impacts and the USD37m from the acquired buw operations. Operating income dropped USD51m compared with USD61m a year earlier, the company said in a statement. The fourth-quarter 2016 results included acquisition-related and other impacts consisting of a USD7m amortization expense for acquired intangible assets, a USD1m depreciation expense related to the fair value write-up of acquired property and equipment, aUSD2m integration and transaction expenses, a USD5m non-cash pension settlement charge, and a USD20m tax expense related to legal-entity restructuring and cash repatriation activities.