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SYKES ENTERPRISES INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2021 10-Q, filed Aug 9, 2021. Its latest SEC filing is a 15-12G from Sep 8, 2021.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides outsourced customer experience services—including customer service, technical support and customer acquisition—to large corporations and their customers.

How Did They Make Money?

Clients pay for customer experience services as they are delivered, based on minutes, hours, calls, transactions or time and materials. Invoices are generally monthly, with payment typically due within 30 or 60 days.

FY2020 revenue

Who Were Their Customers?

Its clients are Global 2000 companies, medium-sized businesses and public institutions across financial services, technology, communications, transportation and leisure, healthcare and other industries. Business-development managers pursue new clients, while strategic account managers develop existing relationships.

Did Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in FY2020 and turned 7 cents into free cash flow.

Operating income, FY2020
5% of revenue
▼ −9% vs FY2019 ($89.8M, 6%)
Net income, FY2020
3% of revenue
▼ −12% vs FY2019 ($64.1M, 4%)
Free cash flow, FY2020
7% of revenue
▲ +97% vs FY2019 ($62.6M, 4%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q2 FY2021, the three months to Jun 30, 2021
Revenue
▲ +8%
vs $416.8M in Q2 FY2020
Net income
▲ +4%
vs $22.2M in Q2 FY2020
  • Aug 27, 2021 Sitel Group completed its acquisition of SYKES SYKES became a wholly owned subsidiary, and shareholders' shares converted into $54.00 in cash.

Grew. Revenue grew 17% in 4 years, from $1.5B in FY2016 to $1.7B in FY2020, about 4% a year.

Personal finance media The latest report adds a personal finance digital media company, Taylor Media, which owns The Penny Hoarder, alongside the customer-experience business described in the earlier report.

Process automation The latest report describes process-automation consulting, implementation, hosting and managed services, while the earlier report's service description centers on customer engagement, marketing, support and self-service.

Who Did They Compete With?

Competes with [24]7.ai, Alorica, Arise, Atento, Concentrix, Groupe Acticall/Sitel, iQor, LiveOps, StarTek, Sutherland, Teleperformance, Telus International, TTEC, Transcom, Working Solutions, Accenture, Conduent, Infosys, Tech Mahindra, and Wipro

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