$25 Million Added to Current Repurchase ProgramENGLEWOOD, CO, Feb 23, 2009 (MARKET WIRE via COMTEX) -- TeleTech Holdings, Inc. (NASDAQ: TTEC), one of the largest and most
geographically diverse global providers of business process
outsourcing ("BPO") solutions, today announced that its Board of
Directors has approved an increase of $25 million in the funding
available for share repurchases.
This authorization brings the total amount available for repurchase
to $35.4 million from the $10.4 million that was still available for
share repurchases under the previous authorization approved by the
Board in July 2008. TeleTech repurchased $89.6 million of its own
shares during 2008.
"The Board's approval of this additional funding for repurchases
reflects its confidence in our long-term growth prospects given our
position as a BPO industry leader," said Kenneth Tuchman, chairman
and chief executive officer. "TeleTech's strong balance sheet and
robust cash flow from operations allow us to continue our commitment
to maximizing shareholder value by repurchasing stock while also
continuing to invest in the company's growth."
The stock repurchase authorization does not have an expiration date,
and the pace of repurchase activity will depend on factors such as
levels of cash generation from operations, current stock price, and
other factors.
ABOUT TELETECH
TeleTech is one of the largest and most geographically diverse global
providers of business process outsourcing solutions. We have a
27-year history of designing, implementing, and managing critical
business processes for Global 1000 companies to help them improve
their customers' experience, expand their strategic capabilities, and
increase their operating efficiencies. By delivering a high-quality
customer experience through the effective integration of
customer-facing front-office processes with internal back-office
processes, we enable our clients to better serve, grow, and retain
their customer base. We use Six Sigma-based quality methods
continually to design, implement, and enhance the business processes
we deliver to our clients and we also apply this methodology to our
own internal operations. We have developed deep domain expertise and
support more than 250 business process outsourcing programs serving
approximately 100 global clients in the automotive, communications
and media, financial services, government, healthcare, retail,
technology and travel and leisure industries. Our integrated global
solutions are provided by approximately 55,000 employees utilizing
39,900 workstations across 83 delivery centers in 17 countries. For
additional information, visit www.teletech.com.
Investor Contact
Karen Breen
303-397-8592
