Sykes Enterprises Inc. (SYKE) reported fourth quarter adjusted earnings from continuing operations of $0.27 per share after the close Monday, down from $0.35 per share in the prior year. The consensus estimate was for EPS of $0.28. The company expects to report first quarter adjusted EPS of $0.20 to $0.23 and between $1.10 and $1.20 for the full year 2012. The consensus estimates are for EPS of $0.30 and $1.44.
Sykes Enterprises gapped open sharply lower Tuesday and declined during the first 2 hours of trade. Shares slipped further going into the close and finished down by 2.85 at $14.28 on strong volume. The stock sank to a 3-month low and fell below its 50-day moving average.
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