DENVER, Feb 19, 2002 /PRNewswire-FirstCall via COMTEX/ -- TeleTech Holdings,
Inc., (Nasdaq: TTEC), a leading global provider of customer relationship
management (CRM) solutions, today announced that its Board of Directors has
authorized a common stock repurchase program whereby TeleTech may repurchase up
to five million dollars of its common stock.
The number of shares to be repurchased will vary based on several factors,
including market conditions, the level of employee stock option exercises and
other relevant factors.
Any purchases under TeleTech's stock repurchase program may be made, from
time-to-time, in the open market or in privately negotiated transactions,
through block trades or otherwise at management's discretion. Depending on
market conditions and other factors, these purchases may be commenced or
suspended at any time without prior notice.
As of February 19, 2002, TeleTech has approximately 77 million shares
outstanding.
"We believe a share repurchase program at this time is an effective way to
deliver additional value to shareholders," said Kenneth Tuchman, Chairman and
Chief Executive Officer of TeleTech Holdings. "This decision reflects our
confidence in TeleTech's long term growth potential."
TELETECH PROFILE
For twenty years, TeleTech has managed the customer experience for some of the
world's largest enterprises. TeleTech's innovative customer care services help
companies acquire, serve, grow and retain customers throughout the entire
relationship lifecycle. TeleTech offers solutions to a variety of industries
including financial services, transportation, communications, government,
healthcare and travel. With a presence that spans North America, Asia-Pacific,
Europe, and South America, TeleTech provides comprehensive customer care
services to global organizations. Additional information on TeleTech can be
found at www.teletech.com .
FORWARD LOOKING STATEMENTS
All statements not based on historical fact are forward-looking statements that
involve substantial risks and uncertainties. In accordance with the Private
Securities Litigation Reform Act of 1995, following are important factors that
could cause TeleTech's actual results to differ materially from those expressed
or implied by such forward-looking statements: including lower than anticipated
customer interaction center capacity utilization due to the weak global economic
climate; the loss or delay in implementation of a customer management program;
TeleTech's ability to build-out facilities in a timely and economic manner;
greater than anticipated competition from new entrants into the customer care
market, causing increased price competition or loss of clients; the loss of one
or more significant clients; higher than anticipated start-up costs associated
with new business opportunities and ventures; TeleTech's ability to predict
future revenue and associated costs, as well as the potential volume or
profitability of any future technology or consulting sales; TeleTech's
agreements with clients may be canceled on relatively short notice; and
TeleTech's ability to generate a specific level of revenue is dependent upon
customer interest in and use of the products and services of TeleTech's clients.
Readers are encouraged to review TeleTech's 2000 Annual Report on Form 10-K,
first, second and third quarter 2001 Form 10-Qs, and other publicly filed
documents which describe other important factors that may impact TeleTech's
business, results of operations and financial condition. TeleTech undertakes no
obligation to update its forward-looking statements after the date of this
release.
SOURCE TeleTech Holdings, Inc.
CONTACT: Investor Relations, Karen Breen, +1-303-397-8592,
karen.breen@teletech.com, or Dan Campbell, +1-303-397-8634,
dan.campbell@teletech.com, both of TeleTech Holdings, Inc.
