StarTek, Inc. (SRT) Revenue Beats Market Projections

Stephen L Kanaval  |

StarTek, (SRT) has been trading up after beating market projections. The process management firm has many analysts bullish. After its last earnings statement, the company post of $82.30 million for the quarter, this beat the projection of $76.05 million. Revenue from newer verticals like healthcare and retail increased 135% and newly acquired contracts added $10 million. Analysts are bullish because of steady new contracts and the acquisition of ACCENT, the marketing service company. ACCENT’s clientele and employees will be well integrated in 2016, and this will give StarkTek the ability to diversify. Here is CEO Chad Carlson on the integration: “The ACCENT integration is largely complete, several months ahead of plan. And I am proud to say, we've retained nearly 100% of their clients and have expanded the engagements with several of them. In addition, we have also had success cross-selling and displaying the value of an enhanced customer engagement capability with analytics, insights and social media services to existing STARTEK clients.” This kind of report is very promising.

The company is all about the brand. StarkTek’s brand warriors inspire customer loyalty through positive sales support interactions and order processing calls and chats. In another string of good news, there will be more brand warriors out in the company’s Kingston, Jamaica office. The office is hiring for 200 new positions and giving some employees a substantial raise. In addition, the company cancelled layoffs in Colorado Springs, Colorado due to additional contracts that were added this month. The company had notified 175 employees that they would lose their jobs by March 31 after the needs of a customer in the health care industry changed, said Kelly Hilton, StarTek's senior director of global communications and employee engagement.


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Companies

Symbol Name Price Change % Volume
SRT StarTek Inc. 6.46 0.00 0.00 0 Trade

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