Key Developments: Sykes Enterprises, Incorporated (SYKE.O)
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9 Feb 2010
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Latest Key Developments
Sykes Enterprises, Incorporated And ICT Group, Inc. Announces Consummation of Merger
Sykes Enterprises, Incorporated and ICT Group, Inc. announced that Sykes Enterprises has completed its acquisition of ICTG following the approval of the transaction agreement by ICTG's shareholders. Under the terms of the transaction, each outstanding share of ICTG common stock has been converted into the right to receive $7.69 in cash (without interest) and 0.3423 of a share of Sykes Enterprises common stock. Effective as of the close of trading, ICTG common stock will cease trading on the Nasdaq Stock Market. Sykes Enterprises and ICTG will begin joint operations from February 3, 2010.
Hart-Scott-Rodino Antitrust Waiting Period Expires For Proposed Sykes Enterprises, Incorporated And ICT Group, Inc. Transaction
ICT Group, Inc. announced that the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired on December 3, 2009, with respect to its proposed acquisition by Sykes Enterprises, Incorporated. This was one of the conditions to the completion of the proposed acquisition.
Sykes Enterprises, Incorporated Issues Q4 2009 Guidance; Revenue Guidance Above Analysts' Estimates; Raises FY 2009 Guidance
Sykes Enterprises, Incorporated announced that for the fourth quarter of 2009, it expects revenues in the range of $213 million to $215 million and earnings per share (EPS) in the range of $0.32 to $0.35 per diluted share. For fiscal 2009, the Company expects revenues in the range of $839 million to $841 million and EPS in the range of $1.49 to $1.52 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report revenue of $212 million and EPS of $0.33 for the fourth quarter of 2009; revenue of $836 million and EPS of $1.37 for fiscal 2009.
Sykes Enterprises, Incorporated Raises Q3 2009 EPS Outlook; To Acquire ICT Group, Inc.
Sykes Enterprises, Incorporated expects to exceed the top end of its previously discussed third quarter of 2009 earnings per diluted share (EPS) outlook range of $0.31-$0.34. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.33 for the same period. Sykes also announced that Sykes and ICT Group, Inc. (ICTG) have entered into a definitive merger agreement under which SYKES agrees to acquire ICTG. Sykes will pay $15.38 for each share of ICTG common stock on a fully diluted basis, for a total purchase price of approximately $263 million. Under the terms of the agreement, each issued and outstanding share of ICTG will be converted into $7.69 in cash and Sykes stock with a value of $7.69, subject to a collar mechanism. The purchase price of $15.38 per share represents a premium of approximately 46% over the closing price of ICTG stock on October 5, 2009. The cash portion of the purchase price is anticipated to be funded through committed credit facilities.
Sykes Enterprises, Incorporated Issues Q3 2009 Guidance; Revenue Guidance Above Analysts' Estimates; Raises FY 2009 Guidance
Sykes Enterprises, Incorporated announced that for the third quarter 2009, it expects revenue to be in the range of $210-$213 million and earnings per share (EPS) in the range of $0.31-$0.34 per diluted share. For fiscal 2009, the Company expects revenue to be in the range of $833-$837 million and EPS in the range of $1.33-$1.39 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report revenue of $209 million and EPS of $0.31 for the third quarter 2009; revenue of $830 million and EPS of $1.25 for fiscal 2009.
Sykes Enterprises, Incorporated Issues Q2 2009 Guidance; Revenue Guidance Below Analysts' Estimates; Lowers FY 2009 Revenue Guidance; Reaffirms FY 2009 EPS Guidance
Sykes Enterprises, Incorporated announced that for second quarter of 2009, it expects revenues to be in the range of $201-$203 million and earnings per share (EPS) in the range of $0.27 to $0.30 per diluted share. For fiscal 2009, it expects revenues in the range of $831-$835 million and EPS in the range of $1.26-$1.32 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report revenues of $207 million and EPS of $0.30 for second quarter of 2009; revenues of $832 million for fiscal 2009.
Sykes Enterprises, Incorporated Issues Q1 2009 Outlook Below Analysts' Estimates; Issues FY 2009 Mixed Outlook
Sykes Enterprises, Incorporated announced that for first quarter 2009, it expects revenues in the range of $203 million to $205 million and EPS in the range of $0.28 to $0.30 per diluted share. For fiscal 2009, it expects revenues in the range of $839 million to $843 million and EPS in the range of $1.26 to $1.32 per diluted share. The strong U.S. dollar is expected to negatively impact first quarter and fiscal 2009 revenues and earnings per share by approximately $25 million and $70 million, as well as $0.01 and $0.04, respectively. Anticipated interest income of approximately $0.5 million per quarter, which excludes the potential impact of foreign exchange gains or losses in other income. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $206 million and earnings per share (EPS) of $0.33 for first quarter 2009; revenue of $838 million and EPS of $1.39 for fiscal 2009.
Sykes Enterprises, Incorporated Issues Q4 2008 Outlook; Updates FY 2008 Revenue Outlook To A Range Below Analysts' Estimates; Raises FY 2008 EPS Outlook
Sykes Enterprises, Incorporated announced that for the fourth quarter of 2008, it expects revenues in the range of $195 to $200 million and earnings per share (EPS) in the range of $0.30 to $0.32 per diluted share. The revenue impact from a strengthening U.S. dollar is expected to be between $12 and $13 million with an estimated unfavorable EPS impact of $0.02 to $0.03. For fiscal 2008, the Company expects revenues in the range of $813 to $818 million and EPS in the range of $1.59 to $1.61 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report EPS of $1.41 on revenue of $828 million for fiscal 2008.
Sykes Enterprises, Incorporated Issues Q3 2008 Guidance In Line With Estimates; Raises FY 2008 EPS Guidance; Raises Lower End Of Prior FY 2008 Revenue Guidance To A Range Above Estimates
Sykes Enterprises, Incorporated announced that for the third quarter of 2008, it expects revenues in the range of $205 to $208 million and EPS in the range of $0.26 to $0.29 per diluted share. For fiscal 2008, the Company expects Revenues in the range of $825 to $830 million and EPS in the range of $1.39 to $1.44 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.29 on revenue of $207 million for the third quarter of 2008; EPS of $1.28 on revenue of $824 million for fiscal 2008.
Sykes Enterprises, Incorporated Raises FY 2008 Guidance
Sykes Enterprises, Incorporated raised its fiscal 2008 guidance and now expects revenues to be in the range of $815-$830 million and earnings per share (EPS) to be in the range of $1.24-$1.33 per diluted share. According to Reuters Estimates, analysts on average are expecting the Company to report EPS of $1.15 on revenues of $813 million for the same period.
UPDATE 2-Teleperformance hit by French call-centre costs
PARIS, Nov. 26 (Reuters) - French call-centre operator Teleperformance cut its guidance for 2009 on Thursday, warning that price pressures and poor performance in its home market would drag down like-for-like sales and profits.
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