TeleTech Expects to Report Positive Earnings for First Quarter of 2005
DENVER, March 8, 2005 /PRNewswire-FirstCall via COMTEX/ -- TeleTech Holdings, Inc.
(Nasdaq: TTEC), a global provider of customer management and business process
outsourcing (BPO) services is correcting a headline run by Dow Jones News wire
this afternoon indicating TeleTech would report breakeven results for the
first quarter of 2005. This is incorrect. The first quarter 2005 outlook
provided by TeleTech was that Newgen, a wholly-owned subsidiary of TeleTech,
representing approximately 9 percent of revenue, expects to report breakeven
results. Newgen results are reflected in the Company's "Database Marketing
and Consulting" segment which was attached to the fourth quarter 2004 earnings
press release issued earlier today.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010130/TELETECHLOGO )
TeleTech, on a consolidated basis, expects to report positive earnings
for the first quarter of 2005.
TeleTech executive management will hold a conference call to discuss
fourth quarter and full year 2004 financial results on Wednesday, March 9,
2005, at 11:00 a.m. Eastern Time. You are invited to join a live webcast of
the call by visiting the "Investors" section of the TeleTech website at
www.teletech.com. If you are unable to participate during the live webcast, a
replay of the call will be available on the TeleTech website through
Wednesday, March 23, 2005.
TeleTech is a global business services company that provides a full range
of front- to back-office solutions including customer management, BPO,
database marketing, and outsourced services to measurably enhance clients'
core customer management processes. TeleTech's ability to create innovative
strategies, combined with its global technology platform and delivery
infrastructure, helps clients increase revenue, lower costs, and retain their
customers around the world. TeleTech's products and services, standardized
processes, and recognized capabilities to implement complex global projects
make the Company a valued partner for clients that include Global 1000
businesses and governments. TeleTech partners with clients to offer 150
languages, through its more than 32,000 employees, in 17 countries. For
additional information, visit www.TeleTech.com.
This press release may contain certain forward-looking statements relating
to future results. The Private Securities Litigation Reform Act of 1995
provides a safe harbor for forward-looking statements. These forward-looking
statements are subject to risks and uncertainties that may cause TeleTech's
and its subsidiaries' actual results to differ materially from those expressed
or implied by such forward-looking statements, including but not limited to
the following: the ability for the Company to execute it's growth plans and be
profitable in the first quarter of 2005, to increase profitability via the
globalization of its North American best operating practices, to achieve its
three-year financial goals and targeted cost reductions; the ability to
successfully launch and generate revenue from new product introductions; the
estimated revenue associated with new or renewed client agreements; the
possibility of the Company's Database Marketing and Consulting segment not
returning to historic levels of profitability; the ability of the Company to
fund its future growth initiatives; greater than anticipated competition in
the customer care market, causing adverse pricing and more stringent
contractual terms; risks associated with losing or not renewing significant
client relationships, or early termination of a client agreement; the
Company's ability to close new business and fill excess capacity; consumers'
concerns or adverse publicity regarding the products of the Company's clients;
higher than anticipated start-up costs or lead times associated with new
ventures or business in new markets; execution risks associated with
performance-based pricing metrics in certain client agreements; execution
risks associated with achieving targeted annualized cost reductions; the
Company's ability to find cost effective locations, obtain favorable lease
terms, and build or retrofit facilities in a timely and economic manner; risks
associated with business interruption due to weather-related events; risks
associated with attracting and retaining cost-effective labor at the Company's
customer management centers; the possibility of additional asset impairments
and restructuring charges; risks associated with changes in foreign currency
exchange rates; economic or political changes affecting the countries in which
the Company operates; changes in accounting policies and practices promulgated
by standard setting bodies; and, new legislation or government regulation that
impacts the customer care industry.
Please refer to the Company's filings with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for the year
ended 2004, for a detailed discussion of factors discussed above and other
important factors that may impact the Company's business, results of
operations, financial condition, and cash flows. The Company assumes no
obligation to update its forward-looking statements to reflect actual results
or changes in factors affecting such forward-looking statements.
TeleTech Holdings, Inc.