Sykes Enterprises Q1 Profit Rises

(RTTNews) - Sykes Enterprises Inc. (SYKE) reported that its first-quarter net income rose to $13.92 million from $11.69 million in the previous year.

First quarter 2020 earnings per share were $0.34 compared to $0.28 in the same period last year, up 22%, with the increase driven principally by a combination of higher demand, operating margins and capacity utilization, all of which was tempered by an estimated $0.09 of COVID-19 related negative impacts.

On a non-GAAP basis, first quarter 2020 earnings per share were $0.44 compared to $0.45 in the previous year.

Quarterly revenues were $411.2 million up from $402.9 million in the comparable quarter last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share and revenues of $415.45 million for the quarter. Analysts' estimates typically exclude special items.