TeleSpectrum Lowers 2001 Revenue Estimates

Share this article:
Teleservices provider TeleSpectrum Inc. lowered its 2001 revenue projections yesterday, blaming the economic downturn.


The company estimated that its revenues for this year will be $225 million to $235 million, down from estimates in April of $250 million to $275 million for the year. TeleSpectrum also posted a second-quarter loss of $24.6 million, which includes a $20.3 million charge as a result of the company's efforts to restructure its credit agreement.


Overall revenue for the second-quarter 2001 was $57.5 million, compared with $79.3 million during the same period last year.


As part of the restructuring of its credit agreement, the company will implement a cost-reduction program by the end of the third quarter to provide $5 million in annual savings. The cutbacks will be in addition to an ongoing effort to reduce costs by $20 million annually.


TeleSpectrum, King of Prussia, PA, operates 20 call centers and has 6,000 employees in the United States, Canada and the United Kingdom. The company provides both inbound and outbound teleservices for business-to-consumer and business-to-business marketing and customer service.


The company posted a net loss of $21.8 million for 2000, citing management turnover and reduced work volume.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

Arthur Hughes, Who Wrote the Book on Database Marketing, Dies at 86

Arthur Hughes, Who Wrote the Book on Database ...

First published in the early days of the Web, Arthur Middleton Hughes's Strategic Database Marketing remains a bible for direct marketers.

Word to the Wise: 100% Viewability

Word to the Wise: 100% Viewability

100% viewability is quite the myth.

12 Big Data Facts for Marketers in 2014

12 Big Data Facts for Marketers in 2014

The idea of Big Data is nothing new, but its potential to solve today's problems and spark innovation is unprecedented.