08:26 AM EST, 11/12/2024 (MT Newswires) -- Converge Technology Solutions ( CTSDF ) on Tuesday reported a higher adjusted third-quarter profit.

Adjusted profit, excluding non-cash impairment charges, rose to $23.2 million, or $0.12 per adjusted share, from $20.6 million, or $0.10 per adjusted share, last year.

Revenue fell to $631 million from $710 million.

The company will pay a quarterly dividend of $0.015 per share on Dec. 10.

Converge expects fourth-quarter revenue of $600 million to $646 million and fiscal year 2024 revenue of $2.5 billion to $2.55 billion.

The company also said that it has completed its group CEO transition. Shaun Maine will immediately step down as Group CEO and member of the board. Greg Berard, currently CEO of Converge, has been appointed as a board member.