OMAHA, Neb., Dec. 11 -- West TeleServices Corporation (Nasdaq: WTSC) or "West"), a leading provider of innovative full service customer relationship management solutions using the latest in voice and Internet technology, announced today that it anticipates twenty percent revenue and EPS growth for the year ending December 31, 2001. Driven by expanding client opportunities, integration efficiencies and new opportunities, the Company is expecting to report revenues in the range of approximately $840 - $850 million, pre-tax operating margins of approximately 15% and earnings per share in the range of $1.19 - $1.20 for 2001. The Company also unveiled West Corporation as its new corporate name to become effective December 29, 2000 and will begin trading under the new ticker symbol WSTC on January 2, 2001.
"We are excited to announce West Corporation as our new corporate name, which preserves the high quality associated with our brand and reflects the evolution of our customer care solutions," said Tom Barker, CEO of West. "Our clients today require multiple services to address the increasingly complex needs and demands of their customers. The telephone is no longer the only communication channel customers use. As we continue to experience strong growth in non-voice and non-teleservices related transactions, we have selected West Corporation to reflect our new business initiatives that help large, premium-brand companies acquire, retain and grow their customer relationships."
Barker added, "Our integrated suite of service offerings and financial track record differentiates us from companies that we have traditionally been compared to in the past. We believe that the new corporate name sets West apart from the teleservices industry and highlights the new opportunities incubating within our pipeline."
2001 Financial Outlook
In addition to strong anticipated revenue and earnings per share gains, West is projecting pre-tax operating margins to remain at approximately 15% for the year ending December 31, 2001. The Company attributes its pre-tax operating margins to increasing returns from deployed assets and integration efficiencies.
Barker said, "One of West's strongest competitive advantages is our ability to cross-sell our services and provide an integrated full-service solution. As we achieve greater success in these initiatives, we will continue to experience a lesser degree of distinction in revenue generation among divisions. Our goal is to continue driving revenues per workstation while focusing on the utilization of assets across divisions. As a result, we will report revenue and earnings per share on a consolidated basis going forward."
"Looking into 2001, we remain very confident in our ability to grow West profitability," said Nancee Berger, Chief Operating Officer. "We have several strategies in place that will enable us to capitalize on new opportunities within our existing base of Fortune 500 customers. Through continued technical enhancements and aggressive cost management programs, we are well positioned to achieve greater efficiencies and maintain the strict financial and operational disciplines necessary to drive our profitability momentum. Our focus remains on providing quality services that drive additional transactions to deliver our stated 20% growth goals for 2001."
West TeleServices Corporation is a leading provider of innovative, full- service customer care solutions that help Fortune 500 and E-100 companies acquire, retain and grow profitable customer relationships. West has the technology and experience needed to create customized solutions that work for both e-Business initiatives and traditional business ventures. West's customer relationship management solutions incorporate agent and automated services using the latest in voice and Internet technology.
Founded in 1986 and headquartered in Omaha, Nebraska, West has a team of approximately 25,000 employees, including an IT staff of approximately 780, occupying 28 state-of-the-art contact centers and seven interactive automated voice and data processing centers across North America and India.
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 "SEC").