Question-and-Answer Session
Operator
Thank you very much. (Operator instructions) And our first question will come from the line of Rick Escilson with Stifel Nicolaus. Please proceed with your question.
Rick Escilson – Stifel Nicolaus
I just had a few questions around client turn and demand, as things move through the quarter. I guess, just starting out, if you could sort of talk about how demand moved on a monthly basis, and if it improved sequentially beginning April, May, and then into June?
Karl Bupp
Yes, Rick, this is Karl. The monthly demand did improve throughout the quarter. So each month was better than the prior.
Rick Escilson – Stifel Nicolaus
Okay. And then, you mentioned that clients are talking about strategic initiatives. Can you give a little bit more color on what type of initiatives or what sort of work that is going on there?
Adam Gutstein
Yes, Rick, it is Adam speaking. You know, what we saw really over the last year or so, when times where I think particularly glamorous [ph], clients were looking for work that would drive a very quick paybacks, specifically they were looking for work that would reduce their cost, would make them more efficient. I think today, a lot more of the work is related to how to provide more capabilities to people in positions like customer care, customer service, how to be more effective at targeting and marketing to customers, recognizing that the share of wallet, if you will, is key, since the total size of the wallet is decreasing as consumers pull back on spending and have less disposable income.
Now I think people are taking a more forward-looking view around their business model, asking how can they operate more effectively, have high degrees of persistency amongst customers, and what does that mean in terms of changing business processes and deploying new technology? So I think it is a good trend, as frankly clients and prospects recognize that things aren't going to go back to the way they were. They have to be more effective from a competitive standpoint and they know that the competition is improving their business model, is improving the way they operate, so they got to get to it as well.
Rick Escilson – Stifel Nicolaus
Okay. And then, last thing is, just looking further towards the end of 2009, do you guys see things turning up for quarter on quarter growth again in December? I mean, I know you don't give guidance, but just does it seem like things will likely improve throughout the course of this quarter?
- To read the full transcript on Seeking Alpha, click here »
