Business
Concentrix Reports Fiscal 2022 Fourth Quarter and Full Year Results
NEWARK, Calif., Jan. 19, 2023 (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":"NEWARK, Calif., Jan. 19, 2023 (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, 2022. Three Months Ended Fiscal Year Ended November 30, 2022 November 30, 2021 Change November 30, 2022 November 30, 2021 ChangeRevenue ($M) $1,640.7 $1,466.6 11.9% $6,324.5 $5,587.0 13.2%Operating income ($M) $178.0 $157.9 12.7% $640.2 $572.4 11.8%Non-GAAP operating income ($M) (1)$248.0 $203.4 21.9% $884.1 $733.7 20.5%Operating margin 10.8% 10.8% 0 bps 10.1% 10.2% -10 bps Non-GAAP operating margin (1) 15.1% 13.9% 120 bps 14.0% 13.1% 90 bps Net income ($M)$104.9 $124.1 (15.5)% $435.0 $405.6 7.2%Non-GAAP net income ($M) (1)$157.2 $158.0 (0.5)% $617.0 $534.6 15.4%Adjusted EBITDA ($M) (1)$284.8 $238.2 19.6% $1,031.0 $874.0 18.0%Adjusted EBITDA margin (1) 17.4% 16.2% 120 bps 16.3% 15.6% 70 bps Diluted earnings per common share$2.01 $2.35 (14.5)% $8.28 $7.70 7.5%Non-GAAP diluted earnings per common share (1)$3.01 $2.99 0.7% $11.75 $10.15 15.8% (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. Fourth Quarter Fiscal 2022 Highlights: Revenue was $1,640.7 million, up 11.9% from the prior year fourth quarter, including a 5.1 point negative impact of foreign exchange rates compared with the prior year period, compared with $1,466.6 million in the prior year fourth quarter, and up 5.8% on an adjusted constant currency basis.Operating income was $178.0 million, or 10.8% of revenue, compared with $157.9 million, or 10.8% of revenue in the prior year fourth quarter.Non-GAAP operating income was $248.0 million, or 15.1% of revenue, compared with $203.4 million, or 13.9% of revenue, in the prior year fourth quarter.Adjusted EBITDA was $284.8 million, or 17.4% of revenue, compared with $238.2 million, or 16.2% of revenue, in the prior year fourth quarter.Cash flow from operations was $235.7 million in the quarter. Free cash flow for the quarter was $192.9 million.Diluted earnings per common share (“EPS”) was $2.01 compared to $2.35 in the prior year fourth quarter.Non-GAAP diluted EPS was $3.01 compared to $2.99 in the prior year fourth quarter. “We had a succes...