Convergys Q1 Profits Rise 20 PercentProfits for the first three months of the year at teleservices firm Convergys Corp. were up 20 percent over the same period last year, the company has reported.
Net income for the first quarter was $53.5 million, up from $44.4 million in the first quarter of 2000. Total revenue rose from $513.6 million in the first quarter of 2000 to $577.8 million in the first quarter of this year.
During the first quarter, Convergys renewed a contract with wireless provider Sprint PCS and won two new contracts with AT&T. The company also bought Geneva Technology Ltd., a CRM software maker based in the United Kingdom.
Convergys has pursued an aggressive growth strategy and has had a good start this year, said Jim Orr, the company's chairman, president and CEO, adding that the tough economy has forced many companies to strengthen their focus on customer relationships and service.