ENGLEWOOD, Colo., Mar 24, 2011 (BUSINESS WIRE) --
TeleTech Holdings, Inc. (NASDAQ: TTEC), one of the largest global
providers of technology-enabled business process outsourcing solutions
that drive commerce and differentiate the customer experience, today
announced that its Board of Directors has approved an additional
authorization of $50 million for share repurchases.
During 2010, TeleTech's strong cash flow from operations, positive net
cash position and solid balance sheet enabled the repurchase of five
million shares of common stock for a total cost of approximately $80
million.
"The Board's support of our ongoing share repurchase program
demonstrates its strong confidence in the company's future growth
prospects," said Kenneth Tuchman, chairman and chief executive officer.
"TeleTech's solid cash flow from operations continues to provide the
capital necessary to fund organic growth, strategic acquisitions and
share repurchases."
As of December 31, 2010, under the previous authorization approved by
the Board, total funding available for share repurchases was $45 million.
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
For nearly 30 years, TeleTech and its subsidiaries have helped the
world's largest companies achieve their most ambitious goals. As the
go-to partner for the Global 1000, the TeleTech group of companies
delivers technology-based solutions that maximize revenue, transform
customer experiences and optimize business processes. From strategic
consulting to operational execution, TeleTech's more than 45,500
employees drive success for clients in the communications and media,
financial services, government, healthcare, technology, transportation
and retail industries. Our companies deliver award-winning integrated
solutions in support of professional
services, revenue
generation, customer
innovation, enterprise
innovation, hosted
technology and learning
innovation. For additional information, please visit www.teletech.com.
SOURCE: TeleTech Holdings, Inc.
TeleTech Holdings, Inc.
Investor Contact
Karen Breen, 303-397-8592
or
Media Contact
Bob Livingston, 303-397-8958
