| 2007 2nd Quarter AnnouncementSYKES ENTERPRISES, INCORPORATED REPORTS SECOND QUARTER 2007 FINANCIAL RESULTS
Double-Digit Revenue Growth in the Second Quarter Supports Revenue & EPS Outlook for the Full-Year TAMPA, FL – August 6, 2007 - 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 second quarter of 2007, the highlights of which are as follows:
(In millions, except per share data) Second Quarter2007 Second Quarter 2006 (a) Revenues $168.3 $135.2 Income from Operations $7.5 $6.5 Net Income $6.3 $11.8 EPS $0.16 $0.29
(a) Results for the second quarter of 2006 included a tax benefit of approximately $0.12 per share related to a Canadian tax appeals settlement
- Second quarter revenues rose to a record $168.3 million, up 24.5%; excluding
contributions from the Argentina acquisition, second quarter revenues were a record $159.9 million, up 18.3%, with the revenue growth split roughly evenly between new and existing client relationships
- Consistent with recent quarters, growth was broad-based with top-40 clients,
which represent over three-quarters of total revenues, growing by approximately 23% over the comparable quarter, excluding contributions from the Argentina acquisition
- Revenue concentration among top-10 clients declined further in the second
quarter of 2007 to 37% versus 43% in the comparable quarter last year, with the largest client representing 6.5% of second quarter 2007 revenues versus 6.2% in the comparable quarter last year
- The Company achieved its second quarter seat capacity expansion target with
the addition of approximately 1,180 seats; total seat capacity increased organically (excluding the Argentina acquisition) by 21%, or approximately 3,940 seats, over the comparable quarter – led primarily by expansion in offshore capacity by approximately 3,450 seats |
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