ENGLEWOOD, Colo.--(BUSINESS WIRE)--Aug. 15, 2013--
TeleTech
Holdings, Inc. (NASDAQ: TTEC), a leading global provider of
data-driven, technology-enabled, customer engagement solutions,
announced that its Board of Directors has approved an incremental $25
million authorization under its share repurchase program.
“The additional authorization continues to demonstrate the Board of
Directors’ confidence and commitment in our business strategy and
value-driven deployment of our strong balance sheet and cash flow
generation,” said Kenneth Tuchman, TeleTech’s chairman and chief
executive officer.
In the first six months of 2013, TeleTech repurchased approximately 1.4
million shares of common stock for a total of approximately $31 million.
As of June 30, 2013, there was $19.4 million authorized for future share
repurchases.
The share 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, founded in 1982, is a leading global provider of data-driven,
technology-enabled services that puts customer engagement at the core of
business success. The Company offers an integrated platform that
combines analytics, strategy, process, systems integration, technology
and operations to simplify the delivery of the customer experience for
Global 1000 clients and their customers. This holistic multichannel
approach improves customer satisfaction, increases customer loyalty and
drives long-term profitability and growth. From strategic consulting to
operational execution, TeleTech’s more than 39,000 employees deliver
results for clients in the automotive, communications and media,
financial services, government, healthcare, technology, transportation
and retail industries. Through the TeleTech Community Foundation, the
Company leverages its innovative leadership to ensure that students in
underserved communities around the globe have access to the tools and
support they need to maximize their educational outcomes. For additional
information, please visit www.TeleTech.com.
FORWARD-LOOKING STATEMENTS
Statements in this press release that relate to future results and
events (including statements about future financial and operating
performance) are forward-looking statements based on TeleTech's current
expectations. Actual results and events in future periods could differ
materially from those projected in these forward-looking statements
because of a number of risks and uncertainties including: achieving
estimated revenue from new, renewed and expanded client business as
volumes may not materialize as forecasted, especially due to the global
economic slowdown; the ability to close and ramp new business
opportunities that are currently being pursued or that are in the final
stages with existing and/or potential clients; our ability to execute
our growth plans, including the successful integration of acquired
companies and the sales of new products; the possibility of lower
revenue or price pressure from our clients experiencing a business
downturn or merger in their business; greater than anticipated
competition in the customer management industry, causing adverse pricing
and more stringent contractual terms; risks associated with losing or
not renewing client relationships, particularly large client agreements,
or early termination of a client agreement; the risk of losing clients
due to consolidation in the industries we serve; consumers’ concerns or
adverse publicity regarding our clients’ products; our 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, fires, pandemic, or
terrorist-related events; risks associated with attracting and retaining
cost-effective labor at our delivery centers; the possibility of asset
impairments and restructuring charges; risks associated with changes in
foreign currency exchange rates; economic or political changes affecting
the countries in which we operate; changes in accounting policies and
practices promulgated by standard setting bodies; new legislation or
government regulation that adversely impacts our tax obligations,
healthcare costs or the customer management industry; service
interruptions, security threats or other disruptions at our facilities
relating to our computer and telecommunications equipment and software
systems; our ability to develop and protect our intellectual property
and contractual rights and avoid infringement; disruptions in the supply
chain of the Customer Technology Services segment; risks associated with
unauthorized disclosure of sensitive or confidential client and customer
data; compliance with credit facility covenant restrictions; and our
ability to obtain financing and manage counterparty credit risks from
financial institutions. A detailed discussion of these and other risk
factors that could affect our results is included in TeleTech'sSEC
filings, including its Annual Report on Form 10-K for the year ended
December 31, 2012. The Company’s filings with the Securities and
Exchange Commission are available in the “Investors” section of
TeleTech’s website, which is located at www.teletech.com.
All information in this release is as of August 15, 2013. The Company
undertakes no duty to update any forward-looking statement to conform
the statement to actual results or changes in the Company’s expectations.
Source: TeleTech Holdings, Inc.
TeleTech Holdings, Inc.
Investor Contact
Paul
Miller, 303-397-8641
or
Media Contact
Jeanna
Blatt, 303-397-8507
