BPO Provider TeleTech Reports Strong Second Quarter

Business process outsourcing provider TeleTech said Monday that revenues in its second quarter set a new record as net income climbed.

Englewood, Colo.-based TeleTech Holdings, Inc. (Nasdaq: TTEC) reported net income of $20.4 million, or $0.28 per share, for the second quarter of 2008. The company reported income of $0.12 per share on the same basis in the same period last year.

The company’s revenue grew to a record $354 million from April 1 to June 30, 2008, an increase of 8.4 percent from the revenue reported in the second quarter of 2008.

TeleTech said that it believes it has one of the largest and most geographically diverse offshore footprints of any global BPO provider with approximately 24,000 offshore workstations representing more than 60 percent of its total delivery capacity. Second quarter 2008 revenue from TeleTech's offshore delivery centers grew approximately 18 percent to $156 million and represented 44 percent of total revenue. TeleTech's offshore workstations currently span seven countries including Argentina, Canada, Costa Rica, Malaysia, Mexico, the Philippines and South Africa.

The company counts one "significant" client -- a client that comprises more than 10 percent of total revenues -- in Sprint Nextel, which made up 14 percent of its total revenues in the second quarter of 2008 compared to 15.2 percent in the second quarter of 2007.