October 30, 1998
Sitel Reports Slow, Steady Growth
Teleservices provider Sitel Corp., Baltimore, last week reported revenue growth of 22 percent for the third quarter to $146.8 million, while net income increased 8 percent to $787,000 and earnings per share were flat at 1 cent. For the first nine months of 1998, revenue grew 23 percent to $431.8 million while net income and EPS fell 80 percent to $2.8 million and 4 cents, respectively. Revenues in North America grew 27 percent for the quarter because of strong performances in the insurance and financial services sectors.