Concentrix Reports Fiscal 2021 Fourth Quarter and Full Year Results

Rhea-AI Summary

Concentrix Corporation (NASDAQ: CNXC) reported robust financial results for Q4 and FY 2021, showcasing a 12.7% revenue increase to $1,466.6 million, while FY revenue rose 18.4% to $5,587.0 million. Operating income for Q4 reached $157.9 million, marking a 31.4% improvement. Net income surged 92.1% to $124.1 million. Diluted earnings per share (EPS) doubled to $2.35. The company also announced a quarterly dividend of $0.25 and plans to continue share repurchase programs. Management expressed confidence for growth in 2022, citing strong new business signings.

Positive

• Revenue growth of 12.7% in Q4 2021 and 18.4% for FY 2021.
• Operating income increased by 31.4% to $157.9 million in Q4.
• Net income rose 92.1% to $124.1 million in Q4, highlighting profitability.
• Diluted EPS increased by 88.0% to $2.35 in Q4.
• Quarterly dividend of $0.25 announced for February 2022.

Negative

• None.

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				Change
Revenue ($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 bps
Non-GAAP operating margin (1)		13.9	%			13.5	%		40 bps				13.1	%			10.8	%		230 bps
Net 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 bps
Diluted 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 fourth quarter.
• Non-GAAP diluted EPS was $2.99 compared to $2.07 in the prior year fourth quarter.
  

“We delivered adjusted constant currency revenue growth above 17 percent with margin expansion in 2021, our first year as an independent public company,” said Chris Caldwell, Concentrix President and CEO. “We are on track integrating the complementary PK acquisition. This further differentiates our unmatched CX capabilities and industry-leading execution. Our strong close to the year, including double-digit revenue growth, margin expansion, and strong new business signings in the fourth quarter, gives us confidence in our ability to grow above the market during 2022.”

Fiscal Year 2021 Highlights:

• Revenue was $5,587.0 million, up 18.4% from the prior fiscal year, compared with $4,719.5 million in the prior fiscal year, and 17.3% on an adjusted constant currency basis.
• Operating income was $572.4 million, or 10.2% of revenue, compared with $308.8 million, or 6.5% of revenue, in the prior fiscal year.
• Non-GAAP operating income was $733.7 million, or 13.1% of revenue, compared with $509.4 million, or 10.8% of revenue, in the prior fiscal year.
• Adjusted EBITDA was $874.0 million, or 15.6% of revenue, compared with $638.5 million, or 13.5% of revenue, in the prior fiscal year.
• Cash flow from operations was $514.2 million in the fiscal year. Free cash flow for the fiscal year was $365.1 million.
• Diluted earnings per common share (“EPS”) was $7.70 compared to $3.19 in the prior fiscal year.
• Non-GAAP diluted EPS was $10.15 compared to $6.13 in the prior fiscal year.
  

Quarterly Dividend and Share Repurchase Program:

• Concentrix paid a $0.25 per share quarterly dividend on November 2, 2021. The Company’s Board of Directors has declared a quarterly dividend of $0.25 per share payable on February 8, 2022, to shareholders of record at the close of business on January 28, 2022.
• Concentrix repurchased 0.1 million shares in the fourth quarter at a cost of $25.1 million under its previously announced share repurchase program. At November 30, 2021, the Company’s remaining share repurchase authorization was $474.9 million.

First Quarter and Full Year Fiscal 2022 Outlook:
The following statements are based on Concentrix’ current expectations for the first quarter and full year fiscal 2022. Non-GAAP financial measures exclude the impact of acquisition-related and integration expenses, amortization of intangible assets, depreciation, share-based compensation and the related tax effects thereon. These statements are forward-looking and actual results may differ materially.

First quarter 2022:

• Revenue is expected to be in the range of $1.510 billion to $1.540 billion, including an approximately $78 million contribution from PK for the months of January and February, as reported.
• Non-GAAP operating income is expected to be in the range of $190 million to $205 million.
• The effective tax rate is expected to approximate 25% to 26%.
  

Full year 2022:

• Revenue is expected to be in the range of $6.450 billion to $6.600 billion, including an approximately $485 million 11-month contribution from PK, as reported.
• Non-GAAP operating income is expected to be in the range of $890 million to $930 million.
• The effective tax rate is expected to approximate 25% to 26%.
  

The Company believes that a quantitative reconciliation of the non-GAAP operating income outlook to the most directly comparable GAAP measure cannot be provided without unreasonable efforts due to the incomplete purchase price allocation for the PK acquisition and the related unavailability of the expected amortization of PK intangible assets. For the same reason, Concentrix is unable to address the probable significance of the unavailable information, which may have a material impact on the Company’s GAAP results.

Conference Call and Webcast
Concentrix will host a conference call for investors to review its fiscal 2021 fourth quarter results tomorrow morning, Wednesday, January 19, 2022 at 9:00 a.m. (ET)/6:00 a.m. (PT).

The live conference call will be webcast in listen-only mode in the Investor Relations section of the Concentrix website under “Events and Presentations” at https://ir.concentrix.com/events-and-presentations. A replay will also be available on the website following the conference call.

About Concentrix
Concentrix Corporation (Nasdaq: CNXC), is a leading global provider of customer experience (CX) solutions and technology, improving business performance for some of the world’s best brands including over 100 Fortune Global 500 clients and more than 125 new economy clients. Every day, from more than 40 countries and across 6 continents, our staff delivers next generation customer experience and helps companies better connect with their customers. We create better business outcomes and help differentiate our clients by reimagining everything CX through Strategy + Talent + Technology. Concentrix provides services to clients in our key industry verticals: technology & consumer electronics; retail, travel & ecommerce; banking, financial services & insurance; healthcare; communications & media; automotive; and energy & public sector. Visit www.concentrix.com to learn more.

Use of Non-GAAP Information
In addition to disclosing financial results that are determined in accordance with GAAP, we also disclose certain non-GAAP financial information, including:

• Constant currency revenue growth, which is revenue growth adjusted for the translation effect of foreign currencies so that certain financial results can be viewed without the impact of fluctuations in foreign currency exchange rates, thereby facilitating period-to-period comparisons of our business performance. Constant currency revenue growth is calculated by translating the revenue of each fiscal year in the billing currency to U.S. dollars using the comparable prior year’s currency conversion rate in comparison to prior year’s revenue. Generally, when the U.S. dollar either strengthens or weakens against other currencies, revenue growth at constant currency rates or adjusting for currency will be higher or lower than revenue growth reported at actual exchange rates.
• Adjusted constant current revenue growth, which is constant currency revenue growth excluding revenue for businesses acquired or divested since the beginning of the prior year period so that revenue growth can be viewed without the impact of acquisitions or divestitures, thereby facilitating period-to-period comparisons of our business performance.
• Non-GAAP operating income, which is operating income, adjusted to exclude acquisition-related and integration expenses, including related restructuring costs, spin-off related expenses, amortization of intangible assets, share-based compensation and gain on divestitures and related transactions costs.
• Non-GAAP operating margin, which is non-GAAP operating income, as defined above, divided by revenue.
• Adjusted earnings before interest, taxes, depreciation, and amortization, or adjusted EBITDA, which is non-GAAP operating income, as defined above, plus depreciation.
• Adjusted EBITDA margin, which is adjusted EBITDA, as defined above, divided by revenue.
• Non-GAAP net income, which is net income excluding the tax effected impact of acquisition-related and integration expenses, including related restructuring costs, spin-off related expenses, amortization of intangible assets, share-based compensation and gain on divestitures and related transaction costs.
• Free cash flow, which is cash flows from operating activities less capital expenditures. We believe that free cash flow is a meaningful measure of cash flows since capital expenditures are a necessary component of ongoing operations. However, free cash flow has limitations because it does not represent the residual cash flow available for discretionary expenditures. For example, free cash flow does not incorporate payments for business acquisitions.
• Non-GAAP diluted earnings per common share (“EPS”), which is diluted EPS excluding per share, tax effected impact of acquisition-related and integration expenses, including related restructuring costs, spin-off related expenses, amortization of intangible assets, share-based compensation and gain on divestitures and related transaction costs.
  

We believe that providing this additional information is useful to the reader to better assess and understand our base operating performance, especially when comparing results with previous periods and for planning and forecasting in future periods, primarily because management typically monitors the business adjusted for these items in addition to GAAP results. Management also uses these non-GAAP measures to establish operational goals and, in some cases, for measuring performance for compensation purposes. These non-GAAP financial measures exclude amortization of intangible assets. Although intangible assets contribute to our revenue generation, the amortization of intangible assets does not directly relate to the services performed for our clients. Additionally, intangible asset amortization expense typically fluctuates based on the size and timing of our acquisition activity. Accordingly, we believe excluding the amortization of intangible assets, along with the other non-GAAP adjustments, which neither relate to the ordinary course of our business nor reflect our underlying business performance, enhances our and our investors’ ability to compare our past financial performance with its current performance and to analyze underlying business performance and trends. These non-GAAP financial measures also exclude share-based compensation expense. Given the subjective assumptions and the variety of award types that companies can use when calculating share-based compensation expense, management believes this additional information allows investors to make additional comparisons between our operating results and those of our peers. As these non-GAAP financial measures are not calculated in accordance with GAAP, they may not necessarily be comparable to similarly titled measures employed by other companies. These non-GAAP financial measures should not be considered in isolation or as a substitute for the comparable GAAP measures and should be used as a complement to, and in conjunction with, data presented in accordance with GAAP.

Safe Harbor Statement
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include, but are not limited to, statements regarding the Company’s expected future financial condition, results of operations, including revenue and operating income, effective tax rate, capital allocation, business strategy, innovation in the Company’s business, the value of the Company’s solutions, the integration of the PK business, the contributions of the PK business and statements that include words such as believe, expect, may, will, provide, could and should and other similar expressions. These forward-looking statements are inherently uncertain and involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things: risks related to general economic conditions, including uncertainty related to the COVID-19 pandemic and its impact on the global economy, supply chains, inflation, the Company’s business and the business of the Company’s clients; other communicable diseases, natural disasters, adverse weather conditions or public health crises; cyberattacks on the Company’s or its clients’ networks and information technology systems; the inability to protect personal and proprietary information; the failure of the Company’s staff and contractors to adhere to the Company’s and its clients’ controls and processes; the inability to execute on the Company’s digital CX strategy; the inability to successfully identify, complete and integrate strategic acquisitions or investments, including the integration of PK; competitive conditions in the Company’s industry and consolidation of its competitors; geopolitical, economic and climate or weather related risks in regions with a significant concentration of the Company’s operations; higher than expected tax liabilities; the loss of key personnel; the demand for CX solutions and technology; variability in demand by the clients or the early termination of the Company’s client contracts; the level of business activity of the Company’s clients and the market acceptance and performance of their products and services; the operability of communication services and information technology systems and networks; changes in law, regulations or regulatory guidance; currency exchange rate fluctuations; damage to the Company’s reputation through the actions or inactions of third parties; increases in the cost of labor; investigative or legal actions; and other factors contained in the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2020 filed with the Securities and Exchange Commission and subsequent SEC filings. The Company does not undertake a duty to update forward-looking statements, which speak only as of the date on which they are made.

Copyright 2022 Concentrix Corporation. All rights reserved. Concentrix, the Concentrix logo, and all other Concentrix company, product and services names and slogans are trademarks or registered trademarks of Concentrix Corporation and its subsidiaries. Concentrix and the Concentrix logo Reg. U.S. Pat. & Tm. Off. and applicable non-U.S. jurisdictions. Other names and marks are the property of their respective owners.

CONCENTRIX CORPORATION
CONSOLIDATED BALANCE SHEETS
(currency and share amounts in thousands, except par value)
(Amounts may not add due to rounding)

	November 30, 2021				November 30, 2020
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	182,038			$	152,656
Accounts receivable, net		1,207,953				1,081,481
Other current assets		153,074				189,239
Total current assets		1,543,065				1,423,376
Property and equipment, net		407,144				451,649
Goodwill		1,813,502				1,836,050
Intangible assets, net		655,528				798,959
Deferred tax assets		48,413				47,423
Other assets		578,715				620,099
Total assets	$	5,046,367			$	5,177,556
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	129,359			$	140,575
Current portion of long-term debt		—				33,750
Payable to former parent		—				22,825
Accrued compensation and benefits		453,434				419,715
Other accrued liabilities		351,642				371,072
Income taxes payable		33,779				20,725
Total current liabilities		968,214				1,008,662
Long-term debt, net		802,017				1,111,362
Other long-term liabilities		546,410				601,887
Deferred tax liabilities		109,471				153,560
Total liabilities		2,426,112				2,875,471
Stockholders’ equity:
Preferred stock, $0.0001 par value, 10,000 shares authorized as of November 30, 2021; no shares issued and outstanding as of November 30, 2021		—				—
Common stock, $0.0001 par value, 250,000 shares authorized as of November 30, 2021; 51,927 shares issued and 51,594 shares outstanding as of November 30, 2021		5				—
Additional paid-in capital		2,355,767				—
Treasury stock, 333 shares as of November 30, 2021		(57,486	)			—
Retained earnings		392,495				—
Former parent company investment		—				2,305,899
Accumulated other comprehensive loss		(70,526	)			(3,814	)
Total stockholders’ equity		2,620,255				2,302,085
Total liabilities and stockholders’ equity	$	5,046,367			$	5,177,556

CONCENTRIX CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(currency and share amounts in thousands, except per share amounts)
(Amounts may not add due to rounding)
(unaudited)

	Three Months Ended											Fiscal Year Ended
	November 30, 2021				November 30, 2020				% Change			November 30, 2021				November 30, 2020				% Change
Revenue
Technology and consumer electronics	$	481,004			$	410,542			17	%		$	1,759,203			$	1,422,817			24	%
Communications and media		245,172				239,268			2	%			1,005,283				954,234			5	%
Retail, travel and ecommerce		272,921				237,912			15	%			985,550				796,324			24	%
Banking, financial services and insurance		213,403				185,522			15	%			862,033				712,469			21	%
Healthcare		135,464				118,558			14	%			489,855				392,686			25	%
Other		118,644				109,056			9	%			485,091				441,004			10	%
Total revenue		1,466,608				1,300,858			13	%			5,587,015				4,719,534			18	%
Cost of revenue		947,240				842,226			12	%			3,617,527				3,058,009			18	%
Gross profit		519,368				458,632			13	%			1,969,488				1,661,525			19	%
Selling, general and administrative expenses		361,463				338,425			7	%			1,397,091				1,352,764			3	%
Operating income		157,905				120,207			31	%			572,397				308,761			85	%
Interest expense and finance charges, net		3,730				8,798			(58	)%			23,046				48,313			(52	)%
Other expense (income), net		(744	)			(3,164	)		(76	)%			(6,345	)			(7,447	)		(15	)%
Income before income taxes		154,919				114,573			35	%			555,696				267,895			107	%
Provision for income taxes		30,811				49,946			(38	)%			150,119				103,084			46	%
Net income	$	124,108			$	64,627			92	%		$	405,577			$	164,811			146	%
Earnings per common share:
Basic	$	2.37			$	1.25						$	7.78			$	3.19
Diluted	$	2.35			$	1.25						$	7.70			$	3.19
Weighted-average common shares outstanding
Basic		51,555				51,602							51,355				51,602
Diluted		52,016				51,602							51,914				51,602

        

CONCENTRIX CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(currency and share amounts in thousands, except per share amounts)
(Amounts may not add due to rounding)
(unaudited)

	Three Months Ended								Fiscal Year Ended
	November 30, 2021				November 30, 2020				November 30, 2021				November 30, 2020
Revenue	$	1,466,608			$	1,300,858			$	5,587,015			$	4,719,534
Revenue growth, as reported under U.S. GAAP		12.7	%			7.3	%			18.4	%			0.2	%
Foreign exchange impact		—	%			(1.0	)%			(2.0	)%			0.5	%
Constant currency revenue growth		12.7	%			6.3	%			16.4	%			0.7	%
Effect of excluding revenue of acquired and divested businesses		1.3	%			—	%			0.9	%			—	%
Adjusted constant currency revenue growth		14.0	%			6.3	%			17.3	%			0.7	%

	Three Months Ended						Fiscal Year Ended
	November 30, 2021			November 30, 2020			November 30, 2021				November 30, 2020
Operating income	$	157,905		$	120,207		$	572,397			$	308,761
Acquisition-related and integration expenses		825			6,552			825				27,982
Spin-off related expenses		—			7,694			—				9,483
Amortization of intangibles		33,744			37,093			136,939				147,283
Share-based compensation		10,904			3,883			36,762				15,914
Gain on divestitures and related transaction costs		—			—			(13,197	)			—
Non-GAAP operating income	$	203,378		$	175,429		$	733,726			$	509,423

	Three Months Ended								Fiscal Year Ended
	November 30, 2021				November 30, 2020				November 30, 2021				November 30, 2020
Net income	$	124,108			$	64,627			$	405,577			$	164,811
Interest expense and finance charges, net		3,730				8,798				23,046				48,313
Provision for income taxes		30,811				49,946				150,119				103,084
Other expense (income), net		(744	)			(3,164	)			(6,345	)			(7,447	)
Acquisition-related and integration expenses		825				6,552				825				27,982
Spin-off related expenses		—				7,694				—				9,483
Gain on divestitures and related transaction costs		—				—				(13,197	)			—
Amortization of intangibles		33,744				37,093				136,939				147,283
Share-based compensation		10,904				3,883				36,762				15,914
Depreciation (excluding accelerated depreciation included in acquisition-related and integration expenses above)		34,865				35,795				140,236				129,126
Adjusted EBITDA	$	238,243			$	211,224			$	873,962			$	638,549

	Three Months Ended						Fiscal Year Ended
	November 30, 2021			November 30, 2020			November 30, 2021			November 30, 2020
Operating margin	10.8	%		9.2	%		10.2	%		6.5	%
Non-GAAP operating margin	13.9	%		13.5	%		13.1	%		10.8	%
Adjusted EBITDA margin	16.2	%		16.2	%		15.6	%		13.5	%

	Three Months Ended								Fiscal Year Ended
	November 30, 2021				November 30, 2020				November 30, 2021				November 30, 2020
Net income	$	124,108			$	64,627			$	405,577			$	164,811
Acquisition-related and integration expenses		825				6,552				825				27,982
Spin-off related expenses		—				7,694				—				9,483
Amortization of intangibles		33,744				37,093				136,939				147,283
Share-based compensation		10,904				3,883				36,762				15,914
Gain on divestitures and related transaction costs		—				—				(13,197	)			—
Income taxes related to the above (1)		(11,549	)			(13,037	)			(32,291	)			(49,010	)
Non-GAAP net income	$	158,032			$	106,812			$	534,615			$	316,463

	Three Months Ended								Fiscal Year Ended
	November 30, 2021				November 30, 2020				November 30, 2021				November 30, 2020
Net income	$	124,108			$	64,627			$	405,577			$	164,811
Less: net income allocated to participating securities		(1,790	)			—				(5,724	)			—
Net income attributable to common stockholders		122,318				64,627				399,853				164,811
Acquisition-related and integration expenses allocated to common stockholders		813				6,552				813				27,982
Spin-off related expenses allocated to common stockholders		—				7,694				—				9,483
Amortization of intangibles allocated to common stockholders		33,257				37,093				135,006				147,283
Share-based compensation allocated to common stockholders		10,747				3,883				36,243				15,914
Gain on divestitures and related transaction costs allocated to common stockholders		—				—				(13,011	)			—
Income taxes related to the above allocated to common stockholders (1)		(11,382	)			(13,037	)			(31,835	)			(49,010	)
Non-GAAP net income attributable to common stockholders	$	155,753			$	106,812			$	527,069			$	316,463

	Three Months Ended								Fiscal Year Ended
	November 30, 2021				November 30, 2020				November 30, 2021				November 30, 2020
Diluted earnings per common share (“EPS”) (2)	$	2.35			$	1.25			$	7.70			$	3.19
Acquisition-related and integration expenses		0.02				0.13				0.02				0.54
Spin-off related expenses		—				0.15				—				0.18
Amortization of intangibles		0.64				0.72				2.60				2.85
Share-based compensation		0.21				0.08				0.70				0.31
Gain on divestitures and related transaction costs		—				—				(0.25	)			—
Income taxes related to the above (1)		(0.23	)			(0.26	)			(0.62	)			(0.94	)
Non-GAAP diluted EPS	$	2.99			$	2.07			$	10.15			$	6.13
Weighted-average number of common shares - diluted (3)		52,016				51,602				51,914				51,602

	Three Months Ended								Fiscal Year Ended
	November 30, 2021				November 30, 2020				November 30, 2021				November 30, 2020
Net cash provided by operating activities	$	182,053			$	119,037			$	514,178			$	507,614
Purchases of property and equipment		(36,210	)			(65,083	)			(149,079	)			(171,332	)
Free cash flow	$	145,843			$	53,954			$	365,099			$	336,282

⁽¹⁾ The tax effect of taxable and deductible non-GAAP adjustments was calculated using the tax-deductible portion of the expenses and applying the entity-specific, statutory tax rates applicable to each item during the respective periods presented.

⁽²⁾ Diluted earnings per common share (“EPS”) is calculated using the two-class method post spin-off. Unvested restricted stock awards granted to employees are considered participating securities. For the purposes of calculating diluted EPS, net income attributable to participating securities was approximately 1.4% of net income for both the three months and fiscal year ended November 30, 2021 and was excluded from total net income to calculate net income attributable to common stockholders. In addition, the non-GAAP adjustments allocated to common stockholders were calculated based on the percentage of net income attributable to common stockholders.

⁽³⁾ Weighted-average number of shares used for diluted EPS for the three months and fiscal year ended November 30, 2020 is based on the number of shares issued in connection with the spin-off of 51.6 million.

FAQ

What were Concentrix's Q4 2021 earnings results?

Concentrix reported Q4 2021 revenue of $1,466.6 million, a 12.7% increase, with operating income of $157.9 million and diluted EPS of $2.35.

How did Concentrix perform in fiscal year 2021?

For FY 2021, Concentrix achieved revenue of $5,587.0 million, up 18.4% from the previous year, with net income of $405.6 million.

What is Concentrix's guidance for fiscal year 2022?

Concentrix expressed confidence in exceeding market growth in 2022, emphasizing strong new business signings and margin expansion.

What dividend did Concentrix declare?

Concentrix declared a quarterly dividend of $0.25 per share, payable on February 8, 2022.