Sykes Enterprises, Incorporated Reports First Quarter 2007 Financial Results
Strong Underlying Volume Trends Drive Record Revenues; Raising 2007 Business Outlook
TAMPA, Fla., May 7, 2007 (PRIME NEWSWIRE) -- Sykes Enterprises, Incorporated ("SYKES" or the "Company")(Nasdaq:SYKE), a global leader in providing outsourced customer contact management solutions and services in the business process outsourcing (BPO) arena, announced today financial results for the first quarter of 2007, the highlights of which are as follows:
(In millions, except per share data)
First Quarter First Quarter
2007 2006
Revenues $168.0 $131.1
Income from Operations $13.6 $6.7
Net Income $11.8 $5.9
EPS $0.29 $0.15
- First quarter revenues accelerated to a record $168 million, up 28.2%; excluding contributions from the Argentina acquisition and the previously-announced Canadian performance incentive payment related to the telemedicine program, first quarter revenues accelerated to a record $158.6 million, up 21%
- Growth was broad-based, with top-40 clients representing more than three-quarters of total revenues growing by approximately 29%, excluding contributions from the Argentina acquisition and the Canadian performance incentive
- First quarter operating margin was up 300 basis points to 8.1%, excluding contributions from the Argentina acquisition and the Canadian performance incentive
- Total seat capacity increased organically (excluding the Argentina acquisition) by 19%, or approximately 3,500 seats, over the comparable quarter last year -- led primarily by expansion in offshore capacity by approximately 3,100 seats
