Sykes Enterprises, Incorporated (SYKE) has reported a 34.10 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $18.71 million, or $0.45 a share in the quarter, compared with $13.95 million, or $0.33 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $22.46 million, or $0.54 a share compared with $17.44 million or $0.42 a share, a year ago. Revenue during the quarter grew 19.73 percent to $384.01 million from $320.75 million in the previous year period. Gross margin for the quarter contracted 28 basis points over the previous year period to 35.64 percent. Total expenses were 93.23 percent of quarterly revenues, down from 93.68 percent for the same period last year. This has led to an improvement of 45 basis points in operating margin to 6.77 percent.
Operating income for the quarter was $26.01 million, compared with $20.27 million in the previous year period.
However, the adjusted operating income for the quarter stood at $31.83 million compared to $25.44 million in the prior year period. At the same time, adjusted operating margin improved 36 basis points in the quarter to 8.29 percent from 7.93 percent in the last year period.
For financial year 2017, Sykes Enterprises, Incorporated projects revenue to be in the range of $1,580 million to $1,595 million. The company forecasts diluted earnings per share to be in the range of $1.71 to $1.78. It company forecasts diluted earnings per share to be in the range of $2.07 to $2.14 on adjusted basis.
For the second-quarter 2017, Sykes Enterprises, Incorporated projects revenue to be in the range of $374 million to $379 million. The company forecasts diluted earnings per share to be in the range of $0.21 to $0.24. On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $0.30 to $0.33.
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