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) is a leading global business process outsourcing (BPO) company committed to enhancing customer experiences across various stages of the customer lifecycle. Founded over 35 years ago, Startek employs more than 38,000 associates worldwide, delivering services in 12 countries. The company offers a comprehensive range of customer service solutions through multiple channels such as voice, chat, email, and IVR interactions, tailored to the needs of its clients.
The company excels in providing front- to back-office capabilities through its 15 contact centers located onshore, nearshore, and offshore, alongside its Startek@home delivery platform. Notably, Startek Health caters to the healthcare industry, offering services like nurse triage, after-hours support, and remote patient monitoring.
Startek has made headlines recently with its acquisition by Capital Square Partners (CSP). The all-cash transaction, valued at approximately $217 million, is expected to close by the end of 2023. This move will transition Startek from a publicly-traded entity on the New York Stock Exchange to a private company.
Moreover, Startek continues to receive industry recognition. The company was named a Major Contender by Everest Group in the Customer Experience Management (CXM) in the APAC PEAK Matrix® Assessment 2023. This accolade highlights Startek's ability to deliver exceptional, innovative digital-first CX solutions in a competitive market.
Financially, Startek reported net revenue of $93.63 million for Q3 2023, marking a slight decrease from the previous year due to foreign currency fluctuations and varied client activity. Despite this, operational efficiencies have led to reduced SG&A expenses and an adjusted net income increase of 108.64% to $11.83 million for the same period.
Startek's strategic partnerships, such as its collaboration with Jemena, an Australian energy distributor, exemplify its commitment to modernizing customer experience delivery. The partnership's success is evident through improved service metrics and customer engagement, driven by cutting-edge technology implementations like AI-driven IVR and natural language voice bots.
For more information, visit Startek's website and follow them on LinkedIn.
Startek (NYSE: SRT) has announced the appointments of Bharat Rao as President and Vivek Sharma as Chief Revenue Officer, aiming to enhance its leadership team for strategic priorities. Rao's focus will be on transforming Startek into a customer-centric organization utilizing emerging technologies, while Sharma will lead global business growth initiatives. These appointments are expected to drive Startek's operational excellence and innovation strategy, ultimately supporting the company's growth trajectory and client engagement levels.
Startek (NYSE: SRT) announced plans to hire up to 300 customer experience specialists at its Makati City campus in the Philippines. This recruitment aligns with the company's ongoing expansion in telecom and other sectors, focusing on delivering digital customer experience solutions. With over 4,000 employees currently in the Philippines, the new hires reflect Startek's commitment to enhancing customer service and operational capabilities. The firm emphasizes its values of diversity and inclusivity, aiming to provide rewarding career paths for its employees.
Startek (NYSE:SRT) will present at the 10th Annual Gateway Conference on Sept. 9, 2021, at 8:30 a.m. Pacific Time. This virtual event allows management to engage in one-on-one meetings and share insights about their customer experience management solutions. Startek, a leading provider of tech-enabled business process management, serves over 200 clients in various sectors, including banking, healthcare, and retail. The presentation will be available for live streaming and replay. For inquiries, email conference@gatewayir.com.
Startek, Inc. (NYSE:SRT) reported impressive financial results for Q2 2021, with net revenue soaring by 33% to $189.0 million, driven by robust performance in key sectors.
Gross profit rose 55% to $24.6 million, and gross margin improved to 13.0%. The company achieved a net income of $6.9 million or $0.17 per share, a significant turnaround from last year's loss. Adjusted net income also surged to $9.9 million, reflecting a promising outlook for the rest of the year.
Startek, Inc. (NYSE: SRT) will hold a conference call on August 9, 2021 at 5:00 p.m. Eastern time to discuss its second-quarter financial results. A press release with the results will be issued before the call. Participants can connect via toll-free and international dial-in numbers, and a replay will be available after the call until August 16, 2021. Startek, a provider of customer experience management solutions, operates over 46 campuses globally, serving more than 250 clients across various industries.
Startek (NYSE: SRT) has announced a strategic collaboration with Automation Anywhere™ to enhance its customer experience management through AI-powered robotic process automation (RPA). This partnership aims to streamline CX processes and improve operational efficiency while addressing increasing customer demands. Key objectives include supporting RPA skill development, providing technical guidance, and enabling organizations to automate repetitive tasks. The collaboration represents a significant step in Startek's digital transformation and is designed to future-proof client engagements with a robust automation platform.
Startek, Inc. (NYSE:SRT) reported first-quarter 2021 financial results, showing net revenue of $163.1 million, up from $160.9 million year-over-year. Gross profit increased by 23% to $24.7 million, while gross margin rose to 15.1%. Despite a net loss of $12.2 million, adjusted net income improved to $1.7 million. Adjusted EBITDA rose 72% to $18.0 million. The company experienced strong demand in e-commerce, healthcare, and media sectors, aided by government grants.
Startek, Inc. (NYSE: SRT), a leader in customer experience management solutions, will conduct a conference call on May 10, 2021, at 5:00 p.m. Eastern time to discuss its financial results for the first quarter, which ended on March 31, 2021. A press release will precede the call. Attendees can join via toll-free at (844) 239-5283 or internationally at (574) 990-1022 using Conference ID: 4684167. A replay will be available post-call until May 17, 2021.
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