| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Convergys Corporation |
| 201 East Fourth Street, Cincinnati, OH 45202 * (513) 397-5364 |
| The company is a leading provider of outsourced billing and customer management solutions, the company serves as a single provider capable of addressing a client's entire range of billing and customer management needs. |
| Manager | Tier | Phone |
| Morgan Stanley Dean Witter Discover & Co. | Lead Manager | (212) 761-5900 |
| BancAmerica Robertson Stephens | Co-manager | (415) 989-8500 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Salomon Smith Barney | Co-manager | (212) 723-7300 |
| NYSE: | CVG | Service: | SIC 7389 | |
| Type of Shares: | Common Shares | Filing Date: | 5/26/98 | |
| U.S. Shares: | 13,000,000 | Offer Date: | 8/12/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $15.00 - $17.00 | |
| Primary Shares: | 13,000,000 | Offer Price: | $15.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.98 | |
| Offering Amount: | $208,000,000 | Selling: | ||
| Expenses: | $1,810,000 | Reallowance: | ||
| Post-IPO Shares: | - | |||
| Spin out parent firm: | Cincinnati Bell, Inc. | |||
| Employees: | 21300 | |||
| Issuer's Law Firm: | Frost & Jacobs LLP |
| Bank's Law Firm: | Shearman & Sterling |
| Registrar/Transfer Agent: | Fifth Third Bank, OH |
| Auditor: | Coopers & Lybrand |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 12/31/97 | 3/31/98 | 3/31/97 | 3/31/98 | ||
| Revenue: | $987.50 | $308.60 | $243.30 | Assets: | $1,358.80 |
| Net Income: | $86.60 | -$2.30 | $26.80 | Curr Assets: | |
| EPS: | Liabilities: | $929.10 | |||
| Prior EPS: | Curr Liab: | ||||
| Cash Flow/Oper: | $127.40 | Equity: | $429.70 | ||
| Cash Flow/Fin: | -$52.80 | Cash: | |||
| Cash Flow/Inv: | -$74.80 | ||||
| Competition |
| The Company currently faces significant competition in its markets and expects that the level of price, product and service competition will continue to increase. The Company believes that the principal competitive factors in its industry are service quality, sales and marketing skills, the ability to develop customized solutions, price and technological expertise. As a result of the trend toward international expansion by foreign and domestic competitors and continuing technological changes, the Company anticipates that new and different competitors will enter its markets. These competitors may include entrants from the communications, teleservices, software and data networking industries. Certain existing competitors have, and new competitors may have, greater financial capabilities, more technological expertise and/or more recognizable brand names. Depending on the continuing pace of international expansion by domestic and foreign competitors, the nature of their product and service offerings and pricing practices, as well as the new types of product offerings from companies in other industries and the timing and circumstances of the entry of these competitors into the Company's markets, the Company's market share may be adversely affected. |
| Business Plan |
| The Company's growth strategy is designed to capitalize on the fundamental trends supporting billing and customer management outsourcing while leveraging the Company's competitive strengths to further its market leadership. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay the parent a portion of the company's indebtedness which was incurred primarily to fund the Transtech Acquisition. |
| Name of Shareholder | % Owned Before | % Owned After |
| Cincinnati Bell Inc. | 1.00 | 0.91 |
| Officer Name | Title | Age |
| Steven G. Rolls | C.F.O. | 43 |
| Ronald E. Schultz | C.O.O. | 43 |
| Brian C. Henry | C.O.O. | 41 |
| Charles S. Mechem, Jr. | Chairman and Director | 67 |
| William D. Baskett III | General Counsel and Secretary | 59 |
| Robert J. Marino | President | 51 |
| David F. Dougherty | President | 41 |
| James F. Orr | President and C.E.O. and Director | 52 |
| Robert P. Komin, Jr. | V.P. and Treasurer | 35 |