Sep 12, 2002
West Corporation Announces Updated Financial Guidance & Management Change
OMAHA, Neb., Sept. 12 /PRNewswire-FirstCall/ --
West Corporation (Nasdaq: WSTC), a leading provider of integrated customer
contact solutions focused on helping Fortune 1000 companies acquire, manage,
retain and grow their customer relationships, today announced updated 2002
financial guidance.The company expects third quarter revenues in the range
of $202 - 205 million leading to net income of approximately
$13.6 - 13.9 million and diluted earnings per share of approximately $0.20.
For the full year 2002, the company expects revenues of $828 - $833 million
and net income of $75 - $77 million.
Our expected results for the third quarter have been lowered.This is
primarily the result of two factors, stated Thomas B. Barker, President and
Chief Executive Officer.
First, we have experienced higher than anticipated
costs related to bad debt.Second, during August some of our clients changed
their plans resulting in reduced call volume in the third quarter.
The company also announced that Paul Mendlik has been named as the
company's new Chief Financial Officer.He joins West Corporation with more
than 25 years of experience with Deloitte & Touche.Mr. Mendlik has been a
partner with Deloitte since 1984 and has served as the regional partner
overseeing the audit and assurance practice.
We are fortunate to have a seasoned executive of Paul's caliber joining
West Corporation, stated Barker.
We believe his in-depth knowledge of our
company will help us achieve our corporate goals and permit a quick and smooth
Mr. Mendlik replaces Michael Micek, who has served as West Corporation's
CFO & Treasurer since 1990 and will remain as a consultant to the company
The company will hold a conference call to discuss these matters on
September 13th at 10:00 AM Central Time.Investors may access the call by
dialing 1-888-412-9257 with the conference ID: 5695664.If you are unable to
participate during the live conference call, a replay of the call will be
available two hours following the conference at 800-642-1687, for one week
until September 20, 2002.
About West Corporation
West Corporation is a leading provider of integrated customer contact
solutions focused on helping Fortune 1000 companies acquire, manage, retain
and grow their customer relationships.
West's customized solutions include large volume agent based transaction
processing, interactive voice response, Web-enabled customer contact solutions
and business-to-business marketing services.The company's operational
strength and proprietary technology enables it to develop long-term
partnerships with its clients and drive greater value from each customer
Founded in 1986 and headquartered in Omaha, Nebraska, West has a team of
approximately 24,000 employees, occupying thirty-five state-of-the-art contact
centers and eight interactive automated voice and data processing centers
across North America and India.
For more information, please visit www.west.com .
Statements which are not historical facts contained in this release are
forward-looking statements that involve risks and uncertainties. Such risks
and uncertainties include, but are not limited to: planned expansion of
operating facilities; labor market conditions; mergers, acquisitions, or joint
ventures, including their execution; customer concentrations; technological
innovation; and general economic conditions. Further information regarding the
factors that could cause actual results to differ from expected or projected
results can be found in documents filed by the Company with the United States
Securities and Exchange Commission (the