Sykes Suffers Following Q2 Announcement

Posted in pre-market 
August 3rd, 2010

Sykes Enterprises, Incorporated fell way down in pre-market trading afting posting weak Q2 profits.  At 8:35 AM EST the company is down 31.37%, from $15.30 to $10.50, and has already traded 58,700 shares.  This is significant for pre-market trading as Sykes’ average volume is just 401,211.  This comes during a 52-week trading range of $13.48 – $26.91.

For Q2, the business process outsourcing company announced earnings of $0.14 per share.  This is compared with estimates of $0.30.  Sykes now predicts 2010 adjusted earnings of $0.81 to $0.83 a share.  This is a major drop from earlier predictions of $1.33 a share to $1.50.

-Michael B. Sauter

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