Convergys Corporation announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenues of $674.2 million against $727.6 million a year ago. Operating income was $34.5 million against $48.8 million a year ago. Income from continuing operations, net of tax was $29.8 million or $0.30 per diluted share against $37.9 million or $0.38 per diluted share a year ago. Net income was $29.8 million or $0.30 per diluted share against $37.9 million or $0.38 per diluted share a year ago. Income before income taxes was $29.5 million against $44.8 million a year ago. Adjusted operating income was $60.0 million against $71.3 million a year ago. Adjusted income from continuing operations, net of tax was $40.4 million or $0.41 per diluted share against $52.1 million or $0.52 per diluted share a year ago. EBITDA was $64.7 million against $84.7 million a year ago. Adjusted EBITDA was $82.7 million against $99.0 million a year ago. Net cash provided by operating activities was $12.7 million against $32.9 million a year ago. Capital expenditures were $5.9 million against $8.9 million a year ago. Adjusted free cash flow was $16.5 million against $25.7 million a year ago. Free cash flow was $6.8 million against free cash flow of $24.0 million a year ago. Net debt totaled $156 million at March 31, 2018, compared with $199 million at December 31, 2017, and $50 million at the end of the first quarter last year.

The company provided earnings guidance for 2018. Adjusted EBITDA margin to approximate 12.5%. Adjusted effective tax rate to approximate 25%, now including provision for withholding taxes in international jurisdictions and other impacts and assumptions related to enactment of the 2017 Tax Cuts and Jobs Act. The company expects a constant currency revenue decrease of up to 7% for 2018. The company expects an adjusted EPS decrease of up to 10% for the full year.