Convergys, West Financials Hold Steady

Share this article:
Revenue and income for Convergys and West Corp., two major companies in the teleservices industry, remained roughly flat during the second quarter of 2002 compared with last year, the companies said yesterday.


West Corp., Omaha, NE, reported revenue of $195 million in the quarter, up 2.4 percent from the same period last year. The company's net income of $20.2 million for the quarter was up 3.8 percent from last year.


Convergys, Cincinnati, said revenue for second-quarter 2002 was $572.7 million, up from $571.2 million in the same period in 2001. Operating income fell 4 percent to $94.5 million from $98.5 million in the second quarter of last year.


Both companies acknowledged that the economy was affecting their business and their clients but said they were meeting the problem by controlling costs. Convergys said its investments in research and development and its expansion in overseas markets has helped it weather the storm.


In addition to reporting its second-quarter financials, West announced the acquisition of Attention LLC, an accounts receivable management company, for an initial cash payment of $40 million and performance-based payment of $21.5 million to $50 million over the next 4.5 years. West said Attention's collections business fit well with its existing outbound telemarketing infrastructure.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

Customer Centricity Is Spurring Marketing-Tech Investments

Customer Centricity Is Spurring Marketing-Tech Investments

A majority of marketers rank customer satisfaction improvements as paramount in the technology investment decisions.

Big, Bold Moves in the C-Suite

Big, Bold Moves in the C-Suite ...

JCPenney appoints Home Depot's Marvin Ellison as CEO; Harte Hanks and JWT add hitting power to their C-level benches

Campaign Comes to the States

Campaign Comes to the States

DMN's UK-based sister publication launches Campaign US