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November 8, 2010

Convergys Q3 revenue down to $556m

Expects information management revenue to be $350m for FY10

By CBR Staff Writer

Convergys has reported revenue of $556m for the third quarter of 2010, a decrease of 6% as compared to $591m for the same period last year.

Revenue from customer management decreased 6% to $463m from $492m, information management revenue fell 17% to $82m.

For the third quarter ended 30 September 2010, the company posted an operating income of $35m, an increase of 30% compared to $27m for the same period last year.

Convergys has posted a net income of $35m in the third quarter of 2010, compared to net income of $30m in the same quarter previous year.

Diluted EPS increased to $0.28 in Q3 2010, compared to EPS of $0.24 for the same quarter previous year.

Convergys president and CEO Jeff Fox said the company made solid progress executing their plan with higher sequential revenue, EBITDA, and EPS in the quarter, and also had several contract wins with new and existing clients across both of their businesses.

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"Our operating teams are focused on delivering more value to our clients which we believe will yield further revenue and profit improvements over time, and we expect continued margin improvement in the fourth quarter," Fox said.

For fiscal 2010, the company expects revenues from customer management to be between $1.8 and $1.85bn, and information management revenues to reach $350m.

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