Related Financial statements for 3q00
Convergys Corporation
Consolidated Statements of Income
In Millions Except Per Share Amounts
(Unaudited)
For the Three Months For the Nine Months
Ended Sept. 30, % Ended Sept. 30, %
2000 1999 Chg. 2000 1999 Chg.
Revenues:
Information Mgmt. Grp.
Data Processing $125.3 $110.3 14 $ 354.5 $ 305.4 16
Prof. & Consulting 44.4 34.9 27 112.4 109.9 2
License & Other 12.8 10.4 23 39.0 27.8 40
International 19.3 14.7 31 53.7 37.7 42
----- ------ -- ------- ------- --
External Revenues 201.8 170.3 18 559.6 480.8 16
Interco. Svcs. for CMG 3.6 8.8 (59) 14.0 26.5 (47)
----- ------ -- ------- ------- --
Total IMG Revenues 205.4 179.1 15 573.6 507.3 13
Customer Management Grp.
Dedicated Services 301.6 224.0 35 879.6 615.9 43
Traditional Services 29.7 42.6 (30) 103.2 136.6 (24)
International 11.4 13.3 (14) 37.6 42.9 (12)
----- ------ -- ------- ------- --
Total CMG Revenues 342.7 279.9 22 1,020.4 795.4 28
Eliminations & Other (3.6) (8.8) (59) (14.0) (26.5)(47)
----- ------ -- ------- ------- --
Total Revenues 544.5 450.2 21 1,580.0 1,276.2 24
Costs & Expenses:
Cost of Providing
Services & Products Sold 306.6 255.1 20 895.5 725.9 23
Selling, General & Admin. 90.5 74.5 21 262.3 211.7 24
Research & Development 23.4 22.1 6 69.0 62.0 11
Depreciation 28.3 21.8 30 80.1 62.2 29
Amortization 12.5 12.4 1 37.6 32.2 17
Year 2000 Programming - 2.2 - - 11.2 -
Purchased R&D Costs - - - - 2.0 -
----- ------ -- ------- ------- --
Total Costs and Expenses 461.3 388.1 19 1,344.5 1,107.2 21
Operating Income 83.2 62.1 34 235.5 169.0 39
Equity in Earnings of
Cellular Partnership 6.0 10.2 (41) 17.3 26.9 (36)
Other Income(Expense), Net 1.1 0.3 - 1.1 (0.9) -
Interest Expense (8.2) (8.4) (2) (25.1) (24.4) 3
----- ------ -- ------- ------- --
Income Before Inc. Taxes 82.1 64.2 28 228.8 170.6 34
Income Taxes 31.7 24.5 29 88.3 65.7 34
----- ------ -- ------- ------- --
Net Income $ 50.4 $ 39.7 27 $ 140.5 $ 104.9 34
----- ------ -- ------- ------- --
----- ------ -- ------- ------- --
Earnings Per Common Share
-Basic $ 0.33 $ 0.26 27 $ 0.92 $ 0.69 33
-Diluted $ 0.32 $ 0.26 23 $ 0.89 $ 0.68 31
Weighted Average Common Shares Outstanding (millions)
-Basic 153.1 151.7 152.5 151.7
-Diluted 158.6 155.0 157.8 154.4
Other Data
Operating Margin (a) 15.3% 13.8% 14.9% 13.4%
Market Price Per Share
High $ 55.438 $ 23.625 $ 55.438 $ 23.625
Low $ 35.688 $ 18.500 $ 26.625 $ 14.500
Close $ 38.875 $ 19.813 $ 38.875 $ 19.813
(a) Excludes purchased research and development costs of $2.0 million
for the nine months ended September 30, 1999.
Convergys Corporation
Consolidated Balance Sheets
In Millions
(Unaudited)
Sept. 30, Dec. 31, Sept. 30,
2000 1999 1999
Assets
Cash and Cash Equivalents $ 37.4 $ 30.8 $ 42.4
Receivables - Net 320.2 214.8 351.8
Other Current Assets 87.5 52.3 57.4
Property & Equipment-Net 367.6 335.6 298.1
Other Assets 886.9 946.0 913.3
Total Assets $ 1,699.6 $ 1,579.5 $ 1,663.0
Liabilities and Shareowners' Equity
Debt Maturing in One Year $ 0.6 $ 48.0 $ 500.5
Other Current Liabilities 315.3 339.4 289.2
Other Liabilities 17.2 14.6 14.0
Long-Term Debt 312.2 250.3 -
Minority Interest - - 1.7
Common Shareowners' Equity 1,054.3 927.2 857.6
Total Liabilities
& Shareowners' Equity $ 1,699.6 $ 1,579.5 $ 1,663.0
Convergys Corporation
Information Management Group
Operating Segment Data
In Millions
(Unaudited)
For the Three Months For the Nine Months
Ended Sept. 30, % Ended Sept. 30, %
2000 1999 Chg. 2000 1999 Chg.
Revenues:
Data Processing $125.3 $110.3 14 $354.5 $305.4 16
Prof. & Consulting 44.4 34.9 27 112.4 109.9 2
License & Other 12.8 10.4 23 39.0 27.8 40
International 19.3 14.7 31 53.7 37.7 42
----- ------ -- ----- ----- --
External Revenues 201.8 170.3 18 559.6 480.8 16
Interco. Svcs. for CMG 3.6 8.8 (59) 14.0 26.5 (47)
----- ------ -- ----- ----- --
Total IMG Revenues 205.4 179.1 15 573.6 507.3 13
Costs & Expenses:
Cost of Providing
Services & Products Sold 102.9 92.2 12 290.2 266.9 9
Selling, General & Admin. 25.0 20.6 21 66.1 57.1 16
Research & Development 19.7 18.0 9 57.3 48.3 19
Depreciation 10.1 7.7 31 28.6 21.7 32
Amortization 4.7 4.5 4 14.0 8.6 63
Year 2000 Programming - 1.8 - 0.3 7.4 (96)
Purchased R&D Costs - - - - 2.0 -
------ ------ -- ------ ----- --
Total Costs and Expenses 162.4 144.8 12 456.5 412.0 11
------ ------ -- ------ ----- --
Operating Income $ 43.0 $ 34.3 25 $117.1 $95.3 23
------ ------ ------ -----
------ ------ ------ -----
Note: The operating segment data for the Information Management
Group (IMG) shown above reflects the detailed revenue and expense
data for IMG that will be presented in the Convergys 10-Q for the
quarterly period ended September 30, 2000.
Convergys Corporation
Customer Management Group
Operating Segment Data
In Millions
(Unaudited)
For the Three Months For the Nine Months
Ended Sept. 30, % Ended Sept. 30, %
2000 1999 Chg. 2000 1999 Chg.
Revenues:
Dedicated Services $301.6 $224.0 35 $ 879.6 $615.9 43
Traditional Services 29.7 42.6 (30) 103.2 136.6 (24)
International 11.4 13.3 (14) 37.6 42.9 (12)
------ ------ -- -------- ------ --
Total CMG Revenues 342.7 279.9 22 1,020.4 795.4 28
Costs & Expenses:
Cost of Providing
Services & Products Sold 207.5 171.7 21 619.3 485.4 28
Selling, General & Admin. 64.7 52.6 23 192.8 151.0 28
Research & Development 3.5 4.1 (15) 11.5 13.7 (16)
Depreciation 17.0 13.6 25 49.0 39.5 24
Amortization 7.9 7.9 - 23.7 23.6 -
Year 2000 Programming - 0.4 - - 3.8 -
------ ------ -- -------- ------ --
Total Costs and Expenses 300.6 250.3 20 896.3 717.0 25
------ ------ -- -------- ------ --
Operating Income $ 42.1 $ 29.6 42 $ 124.1 $ 78.4 58
------ ------ -------- ------
------ ------ -------- ------
Note: The operating segment data for the Customer Management Group
(CMG) shown above reflects the detailed revenue and expense data
for CMG that will be presented in the Convergys 10-Q for the
quarterly period ended September 30, 2000.
Contact:
Convergys Corporation
Investor Contacts:
Steve Rolls, 513/723-3440 or 888/284-9900
Ron Harris, 513/723-2449 or 888/284-9900
Media Contacts:
John Pratt, 513/723-3333 or 888/284-9900
Heather Anthony, Edelman PR, 212/704-4536 |
