Business
Concentrix Reports Fiscal 2021 Fourth Quarter and Full Year Results
FREMONT, Calif., Jan. 18, 2022 (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. 18, 2022 (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, 2021. Three Months Ended Fiscal Year Ended November 30, 2021 November 30, 2020 Change November 30, 2021 November 30, 2020 ChangeRevenue ($M) $1,466.6 $1,300.9 12.7% $5,587.0 $4,719.5 18.4%Operating income ($M) $157.9 $120.2 31.4% $572.4 $308.8 85.4%Non-GAAP operating income ($M) (1)$203.4 $175.4 16.0% $733.7 $509.4 44.0%Operating margin 10.8% 9.2% 160 bps 10.2% 6.5% 370 bpsNon-GAAP operating margin (1) 13.9% 13.5% 40 bps 13.1% 10.8% 230 bpsNet income ($M)$124.1 $64.6 92.1% $405.6 $164.8 146.1%Non-GAAP net income ($M) (1)$158.0 $106.8 47.9% $534.6 $316.5 68.9%Adjusted EBITDA ($M) (1)$238.2 $211.2 12.8% $874.0 $638.5 36.9%Adjusted EBITDA margin (1) 16.2% 16.2% 0 bps 15.6% 13.5% 210 bpsDiluted earnings per common share (2)$2.35 $1.25 88.0% $7.70 $3.19 141.4%Non-GAAP diluted earnings per common share (1), (2)$2.99 $2.07 44.4% $10.15 $6.13 65.6% (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) For the three months and fiscal year ended November 30, 2020, weighted average number of shares used for both diluted EPS is based on the number of shares issued in connection with the spin-off of 51.6 million. Fourth Quarter Fiscal 2021 Highlights: Revenue was $1,466.6 million, up 12.7% from the prior year fourth quarter, compared with $1,300.9 million in the prior year fourth quarter, and 14.0% on an adjusted constant currency basis.Operating income was $157.9 million, or 10.8% of revenue, compared with $120.2 million, or 9.2% of revenue in the prior year fourth quarter.Non-GAAP operating income was $203.4 million, or 13.9% of revenue, compared with $175.4 million, or 13.5% of revenue, in the prior year fourth quarter.Adjusted EBITDA was $238.2 million, or 16.2% of revenue, compared with $211.2 million, or 16.2% of revenue, in the prior year fourth quarter.Cash flow from operations was $182.1 million in the quarter. Free cash flow for the quarter was $145.8 million.Diluted earnings per common share (“EPS”) was $2.35 compared to $1.25 in the prior year fo...