IBEX Sinks On Lower Q4 Profit, Revenue Outlook Less Than Estimates

Shares of IBEX Limited (IBEX) are falling more than 22% Thursday morning after reporting lower fourth-quarter profit, below analysts’ view. The company’s first-quarter as well as full-year revenue outlook came in below the consensus estimates.

Net income in the fourth quarter declined to $4.5 million or $0.24 per share from $6.4 million or $0.35 per share in the same quarter a year ago.

Excluding one-time items, earnings were $6.2 million or $0.33 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $0.49 per share.

Revenue increased a meagre 0.7% to $124.4 million.

For the first quarter revenue is expected to be in the range of $122 to $125 million. Analysts expect the company to report revenue of $133.64 million.

For the full year, the company sees revenue in the range of $525 to $535 million, below the consensus estimate of $554.74 million.

IBEX is at $14.06 currently. It has traded in the range of $11.45 – $31.40 in the last 1 year.

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