Convergys Net Income Rises for Q4, 2001

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Teleservices and CRM provider Convergys Corp.'s net income for fourth-quarter 2001 increased 8 percent over the previous year despite flat revenues, the company said yesterday.

Fourth-quarter net income was $56.4 million, up from $52.2 million for that period in 2000, Convergys said. The company credited its expansion into overseas markets and extension of contracts with existing customers, including AT&T Broadband and Schering Laboratories, during the fourth quarter with bolstering profits despite the economic downturn.

The company's Customer Management Group, which includes its call center operations, reported operating income of $41.3 million for the fourth quarter, a 12 percent decrease from the same period in 2000.

Convergys' overall net income for 2001 was $215.5 million, a 14 percent rise from the previous year, while 2001 income for its Customer Management Group was $172.5 million, up from $171.1 million over the previous year.

The company projected that operating margins for the Customer Management Group will remain relatively flat during 2002. However, Convergys predicted that its Information Management Group, which includes the company's billing operations, would drive revenue growth through the year.


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