Sykes Enterprises Q3 Profit Rises

(RTTNews) - Sykes Enterprises Inc. (SYKE), a provider of multichannel demand generation and global customer engagement services, reported that its third-quarter net income rose to $18.11 million or $0.44 per share from $13.75 million or $0.33 per share last year.

On a non-GAAP basis, third quarter 2019 earnings per share were $0.56 versus $0.59 on a comparable basis. The decline in comparable earnings per share was principally due to a combination of higher comparable effective tax rate and higher other expenses versus the same period last year partially offset by a lower share count.

Third quarter 2019 revenues were $397.5 million down 0.4% from $399.3 million in the comparable quarter last year, with the change due to foreign exchange volatility.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.46 per share and revenues of $401.73 million for the third-quarter. Analysts' estimates typically exclude special items.

For the fourth-quarter, the company expects earnings per share to be in the range of $0.54 to $0.58, Non-GAAP earnings per share of $0.64 to $0.68, and revenues of $415.0 million to $420.0 million. Analysts expect the company to report earnings of $0.77 per share and revenues of $434.36 million for the fourth-quarter.

Looking for the twelve months ending December 31, 2019, the company expects earnings per share of $1.52 to $1.56, Non-GAAP earnings per share of $2.07 to $2.11, and revenues of $1.604 billion to $1.609 billion. Wall Street currently is looking for fiscal year 2019 earnings of $2.10 per share on annual revenues of $1.63 billion.