Business
Concentrix Reports Fiscal 2020 Fourth Quarter and Full Year Results
FREMONT, Calif., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Concentrix Corporation (NASDAQ: CNXC), a leading global provider of customer experience (CX) solutions and
About this update from Concentrix Corporation
[{"type":"text","content":"FREMONT, Calif., Jan. 11, 2021 (GLOBE NEWSWIRE) -- Concentrix Corporation (NASDAQ: CNXC), a leading global provider of customer experience (CX) solutions and technology, today announced financial results for the fiscal fourth quarter and fiscal year ended November 30, 2020. Three Months Ended November 30, 2020 November 30, 2019 ChangeRevenue ($M) $1,300.9 $1,212.8 7.3%Operating income ($M) $120.2 $101.5 18.4%Non-GAAP operating income ($M) (1)$175.4 $165.0 6.3%Operating margin9.2% 8.4% 80 bpsNon-GAAP operating margin (1)13.5% 13.6% -10 bpsNet income ($M)$64.6 $31.9 102.5%Non-GAAP net income ($M) (1)$106.8 $80.0 33.5%Adjusted EBITDA ($M) (1)$211.2 $197.7 6.8%Adjusted EBITDA margin (1)16.2% 16.3% -10 bpsBasic and diluted earnings per share (2)$1.25 $0.62 101.6%Non-GAAP basic and diluted earnings per share (2)$2.07 $1.55 33.5% (1) See non-GAAP reconciliations included in the accompanying financial tables for the reconciliation of each non- GAAP measure to its most directly comparable GAAP measure.(2) Weighted average number of shares used for both basic and diluted EPS is based on the number of common shares issued in connection with the spin-off. Fourth Quarter Fiscal 2020 Highlights: Revenue was $1,300.9 million, up 7.3% from the prior fiscal year fourth quarter and 6.3% on a constant currency basis, compared with $1,212.8 million in the prior fiscal year fourth quarter.Operating income was $120.2 million, or 9.2% of revenue, compared with $101.5 million, or 8.4% of revenue in the prior fiscal year fourth quarter.Non-GAAP operating income was $175.4 million, or 13.5% of revenue, compared with $165.0 million, or 13.6% of revenue, in the prior fiscal year fourth quarter.Adjusted EBITDA was $211.2 million, or 16.2% of revenue, compared with $197.7 million, or 16.3% of revenue, in the prior fiscal year fourth quarter. \"We are pleased with our execution in the fourth quarter with revenue growth and profitability exceeding expectations,” said Chris Caldwell, Concentrix President and CEO. “During the fourth quarter we were able to capitalize on our robust signings in the third quarter, and we believe we also gained share on in-period volumes. Entering 2021 as an independent industry leader, we see opportunities for additional innovation and our ability to enhance value creation for shareholders.” Fiscal Year 2020 Summary Fiscal Year End...