Concentrix Corp (CNXC) 10-Q Quarterly Report April 2021

– Concentrix Corporation (NASDAQ: CNXC), a leading global provider of customer experience (CX) solutions and technology, today announced financial results for the first quarter ended February 28, 2021.


	Three Months Ended
	February 28, 2021			February 29, 2020			Change
Revenue ($M)	$	1,353.3		$	1,188.6		13.9	%
Operating income ($M)	$	134.9		$	88.2		52.9	%
Non-GAAP operating income ($M) (1)	$	176.6		$	144.8		22.0	%
Operating margin	10.0		%	7.4		%	260 bps
Non-GAAP operating margin (1)	13.1		%	12.2		%	90 bps
Net income ($M)	$	88.8		$	52.3		69.8	%
Non-GAAP net income ($M) (1)	$	120.0		$	95.4		25.8	%
Adjusted EBITDA ($M) (1)	$	212.6		$	176.5		20.5	%
Adjusted EBITDA margin (1)	15.7		%	14.8		%	90 bps
Diluted earnings per share (2)	$	1.69		$	1.01		67.3	%
Non-GAAP diluted earnings per share (1), (2)	$	2.29		$	1.85		23.8	%

(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.

(2) For the three months ended February 29, 2020, weighted average number of shares used for diluted EPS is based on the number of shares issued in connection with the spin-off of 51.6 million.

First Quarter Fiscal 2021 Highlights:

•Revenue was $1,353.3 million, up 13.9% from the prior year first quarter and 11.7% on a constant currency basis, compared with $1,188.6 million in the prior year first quarter.

•Operating income was $134.9 million, or 10.0% of revenue, compared with $88.2 million, or 7.4% of revenue, in the prior year first quarter.

•Non-GAAP operating income was $176.6 million, or 13.1% of revenue, compared with $144.8 million, or 12.2% of revenue, in the prior year first quarter.

•Adjusted EBITDA was $212.6 million, or 15.7% of revenue, compared with $176.5 million, or 14.8% of revenue, in the prior year first quarter.

The following information was filed by Concentrix Corp (CNXC) on Wednesday, March 24, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Concentrix Corp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: CNXC
CIK: 1803599
Form Type: 10-Q Quarterly Report
Accession Number: 0001803599-21-000072
Submitted to the SEC: Fri Apr 09 2021 8:03:20 AM EST
Accepted by the SEC: Fri Apr 09 2021
Period: Sunday, February 28, 2021
Industry: Business Services