Sykes Enterprises Q4 Profit Rises

(RTTNews) - Sykes Enterprises Inc. (SYKE) reported that its fourth-quarter net income rose to $23.02 million or $0.56 per share from $17.05 million or $0.40 per share in the prior year.

On a non-GAAP basis, fourth quarter 2019 earnings per share were $0.69 compared to $0.58, up 19% on a comparable basis.

Quarterly revenues increased $10.1 million or 2.4% to $425.3 million, from $415.2 million in the comparable quarter last year, with the growth stemming from new client wins as well as existing and new program expansion across the financial services, technology, healthcare and transportation & leisure verticals. It was offset by the lower demand in the communications and other verticals.

Non-GAAP fourth quarter 2019 constant currency revenues increased 2.8% comparably.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share and revenues of $417.37 million. Analysts' estimates typically exclude special items.

For the first-quarter, the company expects earnings per share to be in the range $0.39 to $0.43, non-GAAP earnings per share of $0.49 to $0.53, and revenues of $417.0 million to $422.0 million. Analysts expect the company to report earnings of $0.53 per share and revenues of $414 million for the quarter.

Looking ahead for fiscal year 2020, the company projects earnings per share to be about $2.02 to $2.16, non-GAAP earnings per share of $2.36 - $2.50, and revenues of $1.70 billion - $1.72 billion. Wall Street currently is looking for fiscal year 2020 earnings of $2.33 per share on annual revenues of $1.67 billion.