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Technology Stocks : CONVERGYS CORPORATION (NYSE: CVG) -- Ignore unavailable to you. Want to Upgrade?

To: Carey Thompson who wrote (118)	5/1/2000 10:47:00 AM
From: Carey Thompson	Read Replies (1) \| Respond to of 135

Accompaning financial statements: CONVERGYS CORPORATION Revenues, Net Income and Earnings Per Common Share In Millions Except Per Share Amounts (Unaudited) First Quarter Change 2000 1999 Amount % Revenues: - Information Mgmt. Grp. $ 179.8 157.1 $ 22.7 14 - Customer Mgmt. Group 340.0 251.7 88.3 35 - Eliminations & Other (6.2) (9.0) 2.8 (31) --------- --------- ------- --- --Total $ 513.6 $ 399.8 $113.8 28 Operating Income (Loss): - Information Mgmt. Grp. $ 35.9 $ 30.3 $ 5.6 18 - Customer Mgmt. Group 40.7 23.7 17.0 72 - Eliminations & Other (1.9) (1.2) (0.7) 58 --------- --------- ------- --- --Total $ 74.7 $ 52.8 $ 21.9 41 Net Income $ 44.4 $ 32.4 $ 12.0 37 Earnings Per Common Share - Basic $0.29 $0.21 $ 0.08 38 - Diluted $0.28 $0.21 $ 0.07 33 Weighted Average Common Shares Outstanding - Basic 151.9 151.7 0.2 - Diluted 156.8 154.1 2.7 Convergys Corporation Consolidated Statements of Income In Millions Except Per Share Amounts (Unaudited) For the Three Months Ended Mar. 31, % 2000 1999 Chg. Revenues: Information Mgmt. Grp. Data Processing $112.9 $ 94.3 20 Prof. & Consulting 33.9 37.5 (10) License & Other 13.9 6.3 121 International 12.9 10.0 29 ------ ------ ---- External Revenues 173.6 148.1 17 Interco. Svcs. for CMG 6.2 9.0 (31) ------ ------ ---- Total IMG Revenues 179.8 157.1 14 Customer Management Grp. Dedicated Services 286.0 186.8 53 Traditional Services 40.6 49.7 (18) International 13.4 15.2 (12) ------ ------ ---- Total CMG Revenues 340.0 251.7 35 Eliminations & Other (6.2) (9.0) - ------- ------- ---- Total Revenues 513.6 399.8 28 Costs & Expenses: Cost of Providing Services & Products Sold 291.9 227.5 28 Selling, General & Admin. 86.0 64.2 34 Research & Development 23.0 19.5 18 Depreciation 25.0 20.1 24 Amortization 12.5 9.5 32 Year 2000 Programming 0.5 6.2 (92) ------ ------ ---- Total Costs and Expenses 438.9 347.0 26 Operating Income 74.7 52.8 41 Equity in Earnings of Cellular Partnership 5.8 7.6 (24) Other Income(Expense), Net (0.1) (0.7) (86) Interest Expense 8.1 7.5 8 ------ ------ ---- Income Before Inc. Taxes 72.3 52.2 39 Income Taxes 27.9 19.8 41 ------ ------ ---- Net Income $ 44.4 $ 32.4 37 ------ ------ ---- ------ ------ ---- Earnings Per Common Share -Basic $ 0.29 $ 0.21 38 -Diluted $ 0.28 $ 0.21 33 Weighted Average Common Shares Outstanding (millions) -Basic 151.9 151.7 -Diluted 156.8 154.1 Other Data Operating Margin 14.5% 13.2% Market Price Per Share High $ 42.063 $ 23.000 Low $ 26.625 $ 14.500 Close $ 38.688 $ 17.125 Convergys Corporation Consolidated Balance Sheets In Millions (Unaudited) Mar. 31, Dec. 31, Mar. 31, 2000 1999 1999 Assets Cash and Cash Equivalents $ 27.1 $ 30.8 $ 20.2 Receivables - Net 195.1 214.8 355.3 Other Current Assets 68.8 52.3 45.1 Property & Equipment-Net 348.2 335.6 250.7 Other Assets 929.3 946.0 874.4 Total Assets $ 1,568.5 $ 1,579.5 $ 1,545.7 Liabilities and Shareowners' Equity Debt Maturing in One Year $ 43.8 $ 48.0 $ 510.6 Other Current Liabilities 292.7 339.4 245.5 Other Liabilities 14.3 14.6 12.2 Long-Term Debt 252.2 250.3 1.3 Minority Interest - - 8.5 Common Shareowners' Equity 965.5 927.2 767.6 Total Liabilities & Shareowners' Equity $ 1,568.5 $ 1,579.5 $ 1,545.7 Convergys Corporation Information Management Group Operating Segment Data In Millions (Unaudited) For the Three Months Ended Mar. 31, % 2000 1999 Chg. Revenues: Data Processing $112.9 $ 94.3 20 Prof. & Consulting 33.9 37.5 (10) License & Other 13.9 6.3 121 International 12.9 10.0 29 ----- ------ ---- External Revenues 173.6 148.1 17 Interco. Svcs. for CMG 6.2 9.0 (31) ----- ------ ---- Total IMG Revenues 179.8 157.1 14 Costs & Expenses: Cost of Providing Services & Products Sold 91.7 84.9 8 Selling, General & Admin. 19.5 16.9 15 Research & Development 18.7 13.5 39 Depreciation 9.1 6.9 32 Amortization 4.6 1.6 - Year 2000 Programming 0.3 3.0 (90) ------ ------ ---- Total Costs and Expenses 143.9 126.8 13 ------ ------ ---- Operating Income $ 35.9 $ 30.3 18 ------ ------ ------ ------ 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 three months ended March 31, 2000. Convergys Corporation Customer Management Group Operating Segment Data In Millions (Unaudited) For the Three Months Ended Mar. 31, % 2000 1999 Chg. Revenues: Dedicated Services $286.0 $186.8 53 Traditional Services 40.6 49.7 (18) International 13.4 15.2 (12) ------ ------ ---- Total CMG Revenues 340.0 251.7 35 Costs & Expenses: Cost of Providing Services & Products Sold 206.4 151.7 36 Selling, General & Admin. 64.9 46.5 40 Research & Development 4.3 6.0 (28) Depreciation 15.6 12.8 22 Amortization 7.9 7.9 - Year 2000 Programming 0.2 3.1 (94) ------ ------ ---- Total Costs and Expenses 299.3 228.0 31 ------ ------ ---- Operating Income $ 40.7 $ 23.7 72 ------ ------ ------ ------ 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 three months ended March 31, 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 Glenn Wiener, Edelman PR, Financial, 212/704-8174 Copyright 2000 Business Wire.