TeleSpectrum Worldwide Inc., King of Prussia, PA, this week announced results for the third quarter, the three months ended September 30, 1998. Net income was $2,668,000 or 10 cents per share versus a net loss of $13,281,000 or 53 cents for the same period in the prior year. Revenues for the quarter were $44.5 million an increase of $3.8 million or 9.3 percent from the $40.7 million in revenues from continuing operations for the prior year's comparable quarter and an increase of $4,200,000 or 10.4 percent from this year's second quarter revenues of $40.3 million.
“We continue to make progress on our turnaround plan,” said Keith E. Alessi, TeleSpectrum's Chairman, President and Chief Executive Officer. “The increase in third quarter revenues over second quarter revenues is particularly gratifying since the third quarter is not normally a strong outbound telemarketing period.”
The increase is due to increased sales, capacity utilization and performance on client programs said the company. The company’s call centers operated at approximately 82 percent capacity during the quarter, up from approximately 72 percent in the prior quarter and 60 percent in the first quarter.
“We currently have numerous initiatives underway which are intended to further reduce operating costs and improve efficiencies,” Alessi added.