Earnings Call Excerpt
TeleTech Holdings, Inc. (TTEC)
Business Update Call
July 17, 2008 8:30 am ET
Executives
Karen Breen – Vice President, Investor Relations & Treasurer
Kenneth D. Tuchman - Chairman of the Board & Chief Executive Officer
John R. Troka, Jr. - Interim Chief Financial Officer & Senior Vice President, Global Finance
Analysts
Josh Vogel – Sidoti & Company, LLC
Bob Evans – Craig Hallum Capital
Tobey Sommer – Sun Trust Robinson-Humphrey
Greg Smith – Merrill Lynch
Matt McCormack – Friedman Billings Ramsey
Tom Smith – First Analysis
Ashwin Shirvaikar – Citigroup
Dhruv Chopra – Morgan Stanley
Shlomo Rosenbaum - Stifel Nicolaus & Company
Eric Bowyer - Wachovia Capital Markets, LLC
Presentation
Operator
Welcome to the TeleTech business update conference call. (Operator Instructions) I would now like to turn the call over to Karen Breen, TeleTech’s Treasurer and VP of Investor Relations.
Karen Breen
Participating with us today is Ken Tuchman, our Chairman and Chief Executive Officer and John Troka, our CFO to discuss the filing of certain SEC reports, the completion of our financial restatement and our updated business outlook.
Before we begin I want to remind you of our disclosure regarding forward-looking statements. Matters discussed on today’s conference call may include forward-looking statements relating to our operating performance, financial goals, business outlook and future plans and development which are based on management’s current beliefs and assumptions. Such statements are various risks, uncertainties and other factors that may cause our actual results, performance and achievements to differ materially from those described.
Such factors include, but are not limited to, reliance on a few major clients, the risks associated with lower profitability from or the loss of one or more significant client relationships, risks associated with achieving the company’s updated business outlook, execution risks associated with expanding capacity in a timely manner to meet demands and the possibility of additional asset impairment and restructuring charges.
A replay of this conference call will be available on our website through July 31 and I will now turn the call over to Ken Tuchman, our Chairman and CEO.
Kenneth D. Tuchman
I’m very pleased to announce we’ve completed the restatement of our historical financial statements of which the majority of the adjustments pertain to years prior to 2001. I’d like to thank our Independent Audit Committee along with our outside consultants for all their efforts and support during this process as well as our finance and accounting teams who have reviewed more than 12 years of financial records and have literally been working around the clock to get this completed.
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