Reduced outbound telemarketing in the wake of the Sept. 11 terrorist attacks caused teleservices agency ICT Group to reduce its projected third-quarter 2001 revenue $4.5 million to $5 million.
Projected earnings for the quarter were reduced about 12 cents per share, down to 4 to 5 cents per share, the company said yesterday. Overall revenue for the quarter is now expected to be $54 million to $55 million.
Before Sept. 11, the company's performance was in line with its previously reported third-quarter outlook, ICT Group said. However, the attacks occurred only two weeks from the end of the quarter, leaving little time for a recovery.
ICT Group said it expected the financial effects of the Sept. 11 events to be limited to third-quarter 2001.
The company, which receives 50 percent of its business from outbound telemarketing, reduced outbound calling to the United States, Canada, United Kingdom and Ireland in the immediate aftermath of the attacks, but business levels have now normalized, ICT Group said.
The company said it would issue a final third-quarter report Oct. 25 and would disclose its outlook for the rest of the year then. ICT Group, Langhorne, PA, employs 5,000 people and operates 4,000 workstations in the United States, Australia, Canada, Ireland and the UK.