TeleSpectrum Posts Loss, Names New President

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TeleSpectrum Worldwide Inc., King of Prussia, PA, posted a first quarter loss of $3.9 million, or 12 cents per share, which it attributed largely to a low level of outbound telemarketing during January and February by some of its major clients.


In the year-ago quarter, the teleservices outsourcer posted a profit of $4.7 million.


Revenues for the recent quarter, which ended March 31, were $78.7 million, an increase of 64 percent over year-ago revenues of $47.9 million. The company said its business increased in March and April, and it expected a full load of business in May and June.


Also, the company named Vincent J. Ciavardini president/CEO, effective May 1, to replace Keith E. Alessi, who was named chairman.


Alessi replaces Jeffery E. Stiefler, who will remain a director.


Ciavardini, who also was named a director, most recently was president and chief operating officer of PFPC, a subsidiary of PNC Financial, Wilmington, DE.
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