Startek, Inc. - SRT STOCK NEWS

Startek (NYSE: SRT) has introduced Startek Agent AI, a new modular platform to enhance employee and customer experience. It includes three solutions: Startek Coach, which speeds up agent training by 50%; Startek Gamification, which improves performance and reduces average handle time (AHT) by up to 10%; and Startek Knowledge Management, cutting ticket creation time by 35%. This initiative aims to leverage technology to ease agent workloads and provide superior customer experiences while allowing remote access for agents. The strategy is part of Startek's commitment to utilizing innovative solutions in customer experience management.

The Special Committee of Startek's Board has received information from Capital Square Partners (CSP) regarding their preliminary proposal to acquire the remaining shares of Startek, which CSP currently does not own. CSP holds about 56% of Startek's shares and has indicated it can provide $20 million for equity financing for the transaction, with additional funding expected through debt financing. The Special Committee will evaluate CSP’s proposal once credible financing indications are received. However, there are no guarantees a definitive offer or agreement will be reached.

Startek (NYSE: SRT) has partnered with Genesys to enhance its omnichannel customer experience solutions. This collaboration aims to integrate Startek's 43,000 agents and human-centered AI with Genesys technology, leveraging insights from 500 million customer interactions annually. The goal is to deliver faster, personalized experiences through improved unified communications. Both companies emphasize the importance of empathy in customer interactions, responding to the growing demand for effective, people-centric engagement in the digital age.

Startek, Inc. (NYSE:SRT) reported Q1 2022 financial results, showing a 2.6% increase in net revenue to $167.3 million compared to Q1 2021. However, gross profit fell by 14.6% to $21.1 million amidst rising wage inflation, resulting in a gross margin decrease of 250 basis points. The company narrowed its net loss significantly to $1.2 million or $(0.03) per share, an improvement of 90.2%. Adjusted net income rose to $1.9 million or $0.05 per share. Startek aims to enhance its sales pipeline and optimize operational costs moving forward.

Startek, Inc. (NYSE: SRT) announced a conference call on May 9, 2022, at 5 p.m. ET to discuss its Q1 2022 financial results for the period ending March 31, 2022. The results will be released prior to the call. Interested parties can join via a toll-free number and there will be a Q&A session following the discussion. A replay of the call will be available until May 16, 2022. Startek provides customer experience solutions and digital transformation services with over 45,000 CX experts across 13 countries.

Startek® (NYSE: SRT) has partnered with Krisp, an AI-powered noise cancellation provider, to enhance customer experience. This partnership aims to implement noise and echo-canceling technology, improving voice clarity for agents and customers alike. With 55% of Startek's workforce operating remotely, this technology will optimize communication in varied environments, ultimately boosting agent productivity and customer satisfaction. Startek combines its expertise in customer experience delivery with Krisp's innovative solutions to strengthen their service offerings across over 200 clients globally.

Startek (NYSE: SRT) has been recognized as a Great Place to Work-Certified™ for the second consecutive year in India. This certification highlights the company’s commitment to building a diverse and creative workplace for its 45,000 global employees. The recognition is attributed to the high levels of employee engagement and effective communication of vision and goals. Startek’s swift adaptation to remote work during the pandemic and positive feedback on the Trust Index Survey contributed significantly to this achievement.

Startek, Inc. (NYSE:SRT) reported a 4Q 2021 net revenue of $178.7 million, up 2% year-over-year, and a full-year revenue of $703.6 million, a 10% increase from 2020. Despite a 11% decline in gross profit for Q4, net income rose to $6.7 million, a significant recovery from a loss of $7.6 million last year. Adjusted EPS improved by 45% to $0.32 in Q4. The company plans to enhance its sales capabilities and maintain cost management to support growth in 2022.

Startek, Inc. (NYSE: SRT) will hold a conference call on March 10, 2022, at 5:00 p.m. Eastern time to discuss its fourth quarter and full year financial results for the year ended December 31, 2021. Results will be announced in advance of the call. Interested parties can join by calling the provided numbers. A replay will be available until March 17, 2022. Startek is a global provider of customer experience solutions serving over 200 clients across various industries, focusing on enhancing customer interactions and digital transformation.