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A revised earnings outlook issued this morning by Sykes Enterprises Inc. (symbol: SYKE) is boosting the company's stock price to levels not seen since the firm's disappointing results from the second quarter were announced.
Sykes' share value took a tumble in early August, when the firm's earnings release showed revenues that excluded recent acquisitions fell 5.9% over the year. On Aug. 2, Sykes shares closed at 15.30; the next day, shares traded at 11.93 when the market closed, a 22% drop.
Today, Sykes shares are consistently trading at a per-share price well above 16.00, following a revised earnings outlook that says the company expects revenues to be between $304 million and $306 million in the third quarter. On Aug. 2, the company said it expected revenues to be between $296 million and $301 million.
Sykes' third quarter results will be published on Nov. 1.
Sykes Enterprises Inc. (symbol: SYKE) specializes in business process outsourcing. The company is headquartered in Tampa, and was featured in an April issue of the Business Review.
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