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CRM Growth Fuels Strong Q1 for ICT

Teleservices provider ICT Group Inc. said yesterday that net revenue increased 25 percent in first-quarter 2002, helped in part by strong growth from its customer relationship management division.

ICT Group, Newtown, PA, reported revenue of $72.3 million for the first quarter of 2002, up from $57.8 million for the same period in 2001. Income for the quarter rose 53 percent to $3.1 million, from $2 million.

Revenue from the CRM services division increased 55 percent for the quarter, ICT Group said. In addition, revenue from healthcare clients was up 200 percent, and revenue from financial clients rose 51 percent.

ICT Group said it expected its strong performance to continue throughout the year and that it projected annual revenue of $290 million to $300 million in 2002.

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