Welcome to our dedicated page for StarTek news (Ticker: SRT), a resource for investors and traders seeking the latest updates and insights on StarTek stock.
Startek, Inc. (NYSE: SRT), a global leader in customer experience solutions for 35+ years, maintains this comprehensive news hub for tracking corporate developments and strategic initiatives. Investors and industry observers will find verified updates on financial performance, operational milestones, and market positioning within the competitive BPO sector.
This resource centralizes essential information including earnings reports, partnership announcements, and recognition like Startek's recent designation as a Major Contender in Everest Group's APAC CXM assessment. Stay informed about transformative events such as the pending $217 million acquisition by Capital Square Partners and its implications for corporate structure.
Discover updates across key operational areas: customer service innovations through AI-driven platforms, healthcare-specific solutions via Startek Health, and global expansion efforts across 12 countries. The page also features strategic collaborations enhancing digital transformation in sectors like energy distribution.
Bookmark this page for ongoing access to Startek's verified corporate communications, financial disclosures, and industry analysis. Check regularly for updates reflecting the company's evolving position in the $350+ billion global customer experience management market.
Startek, Inc. (NYSE: SRT) has successfully completed the divestiture of its 51% stake in Contact Center Company (CCC) to Arabian Internet and Communications Services Company (Solutions) for an enterprise value of approximately
Startek, Inc. (NYSE:SRT) reported Q4 and full-year 2022 financial results, showing a decline in net revenue due to the insourcing of a key client and discontinuation of operations in Argentina and the Middle East. Q4 net revenue totaled $92.96 million, down 18.22% from $113.67 million in Q4 2021. Gross profit declined to $16.80 million, but gross margin improved to 18.07%. The company posted a net loss of $3.13 million, or $(0.08) per share. However, it reported adjusted net income of $14.15 million, or $0.35 per diluted share, an increase of 9.78% year-over-year. Strategic divestitures aim to strengthen the balance sheet and refocus on core business growth.
Startek, Inc. (NYSE: SRT) will hold a conference call on March 27, 2023, at 5:00 p.m. ET to discuss its financial results for the fourth quarter and full year ended December 31, 2022. A press release containing the results will precede the call. Interested parties can join by dialing 1-844-826-3035 for toll-free access or 1-412-317-5195 for international calls. Following the discussion, a question-and-answer session will occur. A replay of the call will be available after 8 p.m. ET the same day through April 3, 2023. Startek provides tech-enabled customer experience solutions across various industries.
Startek (NYSE: SRT), a leader in customer experience solutions, has been recognized for the third consecutive year on the Global Outsourcing 100 list by the International Association of Outsourcing Professionals (IAOP). This accolade highlights Startek's commitment to providing exceptional service amidst industry challenges. With operations in 13 countries and a workforce of over 43,000, the company manages 500 million customer interactions annually, solidifying its status in the CX management sector. IAOP's rigorous judging criteria emphasizes the transformative impact of service providers during unprecedented times.
Startek, Inc. (NYSE: SRT) announced the divestiture of its stake in Contact Center Company (CCC) to Arabian Internet and Communications Services Company. This transaction, valued at SAR450 million (approximately $61.2 million), will allow Startek to focus on its core business. Proceeds will be used to pay down debt under its secured revolving credit facility. The deal, expected to close in Q2 2023, enables Startek to strengthen its balance sheet while continuing to pursue growth opportunities.
Startek, Inc. (NYSE: SRT) has accepted a final acquisition offer from Arabian Internet and Communications Services Company (Solutions) for its 51% interest in Contact Center Company (CCC) in Saudi Arabia. The deal, valued at
Startek, Inc. (NYSE:SRT) reported its Q3 2022 financial results, showing a net revenue decrease of 5.6% to $163.1 million, mainly impacted by foreign exchange headwinds and the end of a media client contract. However, gross profit rose by 7.4% to $23.1 million, improving gross margin to 14.2%. The company achieved 28 new customer wins year-to-date, projecting future revenue growth. Despite a net income drop to $0.03 million, adjusted net income increased by 41.4% to $4.1 million, showing resilience in challenging conditions. A conference call for further insights is scheduled for November 9, 2022.
