Sitel Reaffirms Positive 3Q Outlook

Teleservices provider Sitel Corp. said that its performance estimates for the third quarter of this year remain on target despite falling markets and national turmoil over terrorist attacks on the United States.

The Baltimore company said it would generate $170 million to $175 million for the quarter and earnings of up to 2 cents per share. The aftermath of the Sept. 11 disaster disrupted the company's momentum, but Sitel employees responded well and the company is recovering, chairman/CEO Jim Lynch said.

Lynch, highlighting positive developments for Sitel over the past five months, said the company has won new contracts from several major players overseas, including Alcatel in Europe, Germany's CallInvest, Avaya in Europe and Singapore and Ericsson in Switzerland.

The company is expanding operations for Seeboard in the United Kingdom, American Express in the Netherlands and Belgium, Deutsche Telekom in Germany, Belgium's Belgacom Mobile, the government of Belgium, Hewlett-Packard in Spain and France, New Zealand's Genesis Power, Capital One in the United Kingdom and United States, and Aegon and Mass Marketing Insurance Group in the United States.

The present uncertainty of the business environment makes projecting future results difficult, Lynch said. Sitel said it planned to provide its fourth-quarter 2001 outlook along with its normal third-quarter results announcement.

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