DENVER, Aug. 7, 2017 /PRNewswire/ -- TeleTech Holdings, Inc. (NASDAQ: TTEC), a leading global provider of customer
experience, engagement, and growth solutions delivered through its proprietary end-to-end Humanify™ Customer Engagement as a
Service offering, today announced financial results for the second quarter ended June 30,
2017.
"We are pleased to report another strong quarter and solid close to the first half of 2017. For the first six months of 2017,
over the same period last year, we increased revenue, operating income, net income, earnings-per-share, and cash flow from
operations," commented Ken Tuchman, chairman and chief executive officer of TeleTech. "Our
improved performance is the result of three primary factors. First, the profit optimization improvements we began executing in
the second half of 2016 are yielding favorable results. Second, our end-to-end, outcome-based customer engagement platform
continues to increase in relevance in a growing market. Third, the refinement of our sales, account management, and
marketing organizations are starting to generate early wins."
Tuchman continued, "The service experience has become the most important point of differentiation for many companies and the
bar continues to rise. When customers experience great service from one company across one channel, they expect and feel entitled
to it from every company, across every channel. Through our Humanify™ Customer Engagement as a Service offering, we are
helping our clients stay ahead of the complex challenge. With our integrated platform, we are providing the strategy, insights,
technology and operational excellence our clients need to orchestrate and deliver captivating experiences across every channel
and interaction in the customer journey. Our integrated approach of people, process, analytics and technologies is enabling
personalized experiences at scale that delight customers, drive profitable growth for our clients, and increase equity value for
our shareholders."
SECOND QUARTER 2017 FINANCIAL HIGHLIGHTS
Non-GAAP AHFS/WD (Excluding Assets Held for Sale and Wind-down)
As discussed below and shown in the attached reconciliation table, the definition of Non-GAAP AHFS/WD excludes from revenue and
operating income i) assets held for sale and wind-down, and ii) impairment, restructuring and integration charges.
Revenue
- Second quarter 2017 GAAP revenue increased 15.8 percent to $353.4 million compared to
$305.1 million in the prior year period. Inorganic revenue growth was 13.3 percent.
- Non-GAAP AHFS/WD revenue increased 17.3 percent to $347.4 million over the prior year period.
Inorganic revenue growth was 13.7 percent.
Income from Operations
- Second quarter 2017 GAAP income from operations was $21.6 million, or 6.1 percent of revenue,
compared to $16.2 million, or 5.3 percent of revenue in the second quarter 2016.
- Non-GAAP AHFS/WD income from operations was $25.4 million or 7.3 percent of adjusted revenue
versus 6.0 percent in the prior year.
Earnings Per Share
- Second quarter 2017 GAAP fully diluted earnings per share attributable to TeleTech shareholders was 32 cents compared to 24 cents in the same period last year.
- Non-GAAP fully diluted earnings per share attributable to TeleTech shareholders was 38 cents
compared to 28 cents in the same period last year.
Bookings
- During the second quarter 2017, TeleTech signed an estimated $107 million in annualized
contract value revenue from new and existing client relationships. The second quarter bookings mix was diversified across all
verticals with 80 percent from existing clients and 11 percent from outside of the United
States.
STRONG BALANCE SHEET CONTINUES TO FUND OPERATIONS, SHARE REPURCHASES, DIVIDENDS, AND INVESTMENTS
- As of June 30, 2017, TeleTech had cash and cash equivalents of $77.9
million and $273.3 million of total debt, resulting in a net debt position of $195.4 million.
- As of June 30, 2017, TeleTech had approximately $385 million of
additional borrowing capacity available under its revolving credit facility.
- Cash flow from operations in the second quarter 2017 was $50.5 million compared to
$43.5 million in the second quarter 2016.
- Capital expenditures in the second quarter 2017 were $17.6 million compared to $12.8 million in the second quarter 2016.
- On April 14, 2017, TeleTech paid a $0.22 per share semi-annual
dividend, totaling $10.1 million, to TeleTech shareholders of record on March 31, 2017. This dividend represents an 18.9 percent increase over the distribution in April 2016.
- During the second quarter 2017, TeleTech repurchased approximately 223 thousand shares of common stock for a total cost of
$6.7 million. As of June 30, 2017, $26.6
million was authorized for future share repurchases.
SEGMENT REPORTING & COMMENTARY
TeleTech reports financial results for the following four business segments: Customer Management Services (CMS), Customer
Growth Services (CGS), Customer Technology Services (CTS) and Customer Strategy Services (CSS). Financial highlights for
the segments are provided below.
Customer Management Services (CMS) – Customer Experience Delivery Solutions
- CMS second quarter 2017 revenue increased 26.4 percent to $269.1 million compared to
$212.8 million in the year ago quarter. Inorganic revenue grew 19.1 percent year-over-year.
Income from operations was $14.1 million or 5.2 percent of revenue compared to $8.3 million or 3.9 percent of revenue in the prior year.
- Non-GAAP income from operations was $17.7 million or 6.6 percent of revenue. This compares to
$8.4 million or 3.9 percent of revenue in the prior year.
Customer Growth Services (CGS) – Digitally-Enabled Revenue Growth Solutions
- CGS second quarter 2017 revenue declined 12.2 percent to $32.4 million compared to
$36.9 million in the year ago quarter. Income from operations was $2.3
million or 7.2 percent of revenue compared to $3.5 million or 9.4 percent of revenue in
the prior year.
- Non-GAAP AHFS/WD revenue declined 11.9 percent over the year ago period and income from operations was $2.4 million or 7.6 percent of adjusted revenue. This compares to $4.1 million
or 11.4 percent of adjusted revenue in the prior year.
Customer Technology Services (CTS) – Hosted and Managed Technology Solutions
- CTS second quarter 2017 revenue declined 6.8 percent to $34.8 million compared to
$37.4 million in the year ago quarter. Income from operations was $3.8
million or 11.0 percent of revenue compared to $3.4 million or 9.0 percent of revenue in
the prior year.
- Non-GAAP AHFS/WD revenue declined 0.7 percent over the year ago period and income from operations was $3.7 million or 11.6 percent of adjusted revenue. This compares to $3.8 million
or 11.8 percent of adjusted revenue in the prior year.
Customer Strategy Services (CSS) – Customer Experience Strategy and Data Analytics Solutions
- CSS second quarter 2017 revenue declined 4.9 percent to $17.2 million from $18.1 million in the year ago quarter. Income from operations was $1.4 million
or 8.0 percent of revenue compared to $1.0 million or 5.7 percent of revenue in the prior
year.
- Non-GAAP AHFS/WD revenue declined 3.6 percent over the year ago period and income from operations was $1.7 million or 11.3 percent of adjusted revenue. This compares to operating income of $1.4 million or 9.3 percent of revenue in the prior year.
BUSINESS OUTLOOK
"I want to highlight the strong performance of the business. In the first half of 2017, we executed on many fronts. We grew
the top-line organically and inorganically, improved our profitability and cash flow generation, increased our vertical and
geographic market share, and expanded our capabilities into more integrated, outcome-based solutions," commented Regina Paolillo, chief financial and administrative officer. "The overperformance at the half year provides
improved visibility and confidence in our ability to execute our full-year 2017 revenue and operating income guidance. In
comparison to our first half, we anticipate a significant increase in our revenue and operating income in the second half. We
estimate our seasonal peak fourth quarter revenue and operating income, which includes acquired volumes from Connextions, to
significantly exceed historical levels."
Reaffirmed full-year 2017 estimated revenue and operating income guidance for TeleTech which excludes i) assets held for
sale and wind-down, and ii) impairment, restructuring and integration charges as follows:
Revenue - Revenue between $1.400 and $1.410 billion.
Operating Income Margin - Operating income margin in the range of 8.3 and 8.5 percent before impairment, restructuring
and integration charges.
Capital Expenditures - Capital expenditures of 4.6 percent of revenue.
ABOUT TELETECH
TeleTech (NASDAQ: TTEC) is a leading global provider of customer experience, engagement and growth solutions delivered through
its proprietary end-to-end Humanify™ Customer Engagement as a Service offering. Founded in 1982, the Company helps its clients
acquire, retain, and grow profitable customer relationships. Using customer-centric strategy, technology, processes and
operations, TeleTech partners with business leadership across marketing, sales and customer care to design and deliver a
simple, more human customer experience across every interaction channel. TeleTech's 48,000 employees live by a set of
customer-focused values that guide relationships with clients, their customers, and each other. To learn more about how
TeleTech is bringing humanity to the customer experience, visit TeleTech.com.
FORWARD-LOOKING STATEMENTS
Statements in this press release contain "forward-looking statements" within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, relating
to our operations, expected financial position, results of operation, and other business matters that are based on our current
expectations, assumptions, and projections with respect to the future, and are not a guarantee of performance. We use words such
as "may," "believe," "plan," "will," "anticipate," "estimate," "expect," "intend," "project," "would," "could," "target," or
similar expressions, or when we discuss our strategy, plans, goals, initiatives, or objectives, we are making forward-looking
statements.
We caution you not to rely unduly on any forward-looking statements. Actual results may differ materially from what is
expressed in the forward-looking statements, and you should review and consider carefully the risks, uncertainties and other
factors that affect our business and may cause such differences as outlined but are not limited to factors discussed in the
sections entitled "Risk Factors" included in TeleTech's filings with the US Securities and Exchange Commission (the "SEC"),
including our most recent Annual Report on Form 10-K and subsequent quarterly financial reports on Form 10-Q. TeleTech's filings
with the SEC are available in the "Investors" section of TeleTech's website, www.teletech.com and at the SEC's public website at www.sec.gov.
Our forward-looking statements speak only as of the date of the press release and we undertake no obligation to update
them, except as may be required by applicable laws.
|
Investor Contact
|
Media Contact
|
|
Paul Miller
|
Olivia Griner
|
|
303.397.8641
|
303.397.8999
|
|
TELETECH HOLDINGS, INC. AND SUBSIDIARIES
|
|
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
(In thousands, except per share data)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
|
|
June 30,
|
|
June 30,
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
$ 353,429
|
|
$ 305,105
|
|
$ 691,706
|
|
$ 617,515
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses:
|
|
|
|
|
|
|
|
|
Cost of services
|
268,004
|
|
226,768
|
|
521,902
|
|
458,108
|
|
Selling, general and administrative
|
43,985
|
|
44,774
|
|
87,205
|
|
90,274
|
|
Depreciation and amortization
|
16,258
|
|
17,221
|
|
30,758
|
|
34,950
|
|
Restructuring charges, net
|
3,593
|
|
114
|
|
3,762
|
|
202
|
|
Total operating expenses
|
331,840
|
|
288,877
|
|
643,627
|
|
583,534
|
|
|
|
|
|
|
|
|
|
|
Income From Operations
|
21,589
|
|
16,228
|
|
48,079
|
|
33,981
|
|
|
|
|
|
|
|
|
|
|
Other income (expense)
|
(4,198)
|
|
(734)
|
|
(5,130)
|
|
(2,054)
|
|
|
|
|
|
|
|
|
|
|
Income Before Income Taxes
|
17,391
|
|
15,494
|
|
42,949
|
|
31,927
|
|
|
|
|
|
|
|
|
|
|
Benefit (Provision) for income taxes
|
(1,597)
|
|
(2,952)
|
|
(6,988)
|
|
(7,480)
|
|
|
|
|
|
|
|
|
|
|
Net Income
|
15,794
|
|
12,542
|
|
35,961
|
|
24,447
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to noncontrolling interest
|
(1,100)
|
|
(926)
|
|
(2,022)
|
|
(1,606)
|
|
|
|
|
|
|
|
|
|
|
Net Income Attributable to TeleTech Stockholders
|
$ 14,694
|
|
$ 11,616
|
|
$ 33,939
|
|
$ 22,841
|
|
|
|
|
|
|
|
|
|
|
Net Income Per Share Attributable to TeleTech Stockholders
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
$ 0.32
|
|
$ 0.24
|
|
$ 0.74
|
|
$ 0.47
|
|
|
|
|
|
|
|
|
|
|
Diluted
|
$ 0.32
|
|
$ 0.24
|
|
$ 0.73
|
|
$ 0.47
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income From Operations Margin
|
6.1%
|
|
5.3%
|
|
7.0%
|
|
5.5%
|
|
Net Income Attributable to TeleTech Stockholders Margin
|
4.2%
|
|
3.8%
|
|
4.9%
|
|
3.7%
|
|
Effective Tax Rate
|
9.2%
|
|
19.1%
|
|
16.3%
|
|
23.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted Average Shares Outstanding
|
|
|
|
|
|
|
|
|
Basic
|
45,662
|
|
47,873
|
|
45,805
|
|
48,120
|
|
Diluted
|
46,150
|
|
48,221
|
|
46,224
|
|
48,483
|
|
TELETECH HOLDINGS, INC. AND SUBSIDIARIES
|
|
SEGMENT INFORMATION
|
|
(In thousands)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
|
June 30,
|
|
June 30,
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
Customer Management Services
|
$ 269,056
|
|
$ 212,807
|
|
$ 521,135
|
|
$ 440,728
|
|
Customer Growth Services
|
32,403
|
|
36,893
|
|
66,061
|
|
70,412
|
|
Customer Technology Services
|
34,798
|
|
37,350
|
|
70,491
|
|
72,618
|
|
Customer Strategy Services
|
17,172
|
|
18,055
|
|
34,019
|
|
33,757
|
|
Total
|
$ 353,429
|
|
$ 305,105
|
|
$ 691,706
|
|
$ 617,515
|
|
|
|
|
|
|
|
|
|
Income From Operations:
|
|
|
|
|
|
|
|
|
Customer Management Services
|
$ 14,075
|
|
$ 8,339
|
|
$ 34,671
|
|
$ 23,934
|
|
Customer Growth Services
|
2,321
|
|
3,482
|
|
4,731
|
|
3,977
|
|
Customer Technology Services
|
3,819
|
|
3,376
|
|
6,876
|
|
6,156
|
|
Customer Strategy Services
|
1,374
|
|
1,031
|
|
1,801
|
|
(86)
|
|
Total
|
$ 21,589
|
|
$ 16,228
|
|
$ 48,079
|
|
$ 33,981
|
|
TELETECH HOLDINGS, INC. AND SUBSIDIARIES
|
|
CONSOLIDATED BALANCE SHEETS
|
|
(In thousands)
|
|
(Unaudited)
|
|
|
|
|
|
June 30,
|
|
December 31,
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
Current assets:
|
|
|
|
|
Cash and cash equivalents
|
$ 77,910
|
|
$ 55,264
|
|
Accounts receivable, net
|
288,041
|
|
300,808
|
|
Other current assets
|
74,783
|
|
66,940
|
|
Assets held for sale
|
8,969
|
|
10,715
|
|
Total current assets
|
449,703
|
|
433,727
|
|
|
|
|
|
Property and equipment, net
|
160,321
|
|
151,037
|
|
Other assets
|
320,099
|
|
261,540
|
|
|
|
|
|
Total assets
|
$ 930,123
|
|
$ 846,304
|
|
|
|
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
Total current liabilities
|
$ 197,352
|
|
$ 178,672
|
|
Liabilities held for sale
|
1,908
|
|
1,357
|
|
Other long-term liabilities
|
335,605
|
|
304,380
|
|
Total equity
|
395,258
|
|
361,895
|
|
|
|
|
|
Total liabilities and equity
|
$ 930,123
|
|
$ 846,304
|
|
TELETECH HOLDINGS, INC. AND SUBSIDIARIES
|
|
RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION
|
|
(In thousands, except per share data)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
Six months ended
|
|
|
June 30,
|
|
June 30,
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
$ 353,429
|
|
$ 305,105
|
|
$ 691,706
|
|
$ 617,515
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of EBIT & EBITDA:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income Attributable to TeleTech stockholders
|
|
$ 14,694
|
|
$ 11,616
|
|
$ 33,939
|
|
$ 22,841
|
|
Interest income
|
|
(695)
|
|
(263)
|
|
(1,121)
|
|
(429)
|
|
Interest expense
|
|
2,912
|
|
1,753
|
|
5,230
|
|
3,717
|
|
Provision for income taxes
|
|
1,597
|
|
2,952
|
|
6,988
|
|
7,480
|
|
EBIT
|
|
$ 18,508
|
|
$ 16,058
|
|
$ 45,036
|
|
$ 33,609
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
16,258
|
|
17,221
|
|
30,758
|
|
34,950
|
|
|
|
|
|
|
|
|
|
|
EBITDA
|
|
$ 34,766
|
|
$ 33,279
|
|
$ 75,794
|
|
$ 68,559
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Free Cash Flow:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash Flow From Operating Activities:
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ 15,794
|
|
$ 12,542
|
|
$ 35,961
|
|
$ 24,447
|
|
Adjustments to reconcile net income to net cash
|
|
|
|
|
|
|
|
|
|
provided by operating
activities:
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization
|
|
16,258
|
|
17,221
|
|
30,758
|
|
34,950
|
|
Other
|
|
18,471
|
|
13,744
|
|
58,736
|
|
(4,352)
|
|
Net cash provided by operating activities
|
|
50,523
|
|
43,507
|
|
125,455
|
|
55,045
|
|
|
|
|
|
|
|
|
|
|
Less - Total Capital Expenditures
|
|
17,554
|
|
12,794
|
|
29,589
|
|
27,743
|
|
|
|
|
|
|
|
|
|
|
Free Cash Flow
|
|
$ 32,969
|
|
$ 30,713
|
|
$ 95,866
|
|
$ 27,302
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Non-GAAP Income from Operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from Operations
|
|
$ 21,589
|
|
$ 16,228
|
|
$ 48,079
|
|
$ 33,981
|
|
Restructuring charges, net
|
|
3,593
|
|
114
|
|
3,762
|
|
202
|
|
Impairment losses
|
|
-
|
|
-
|
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Income from Operations
|
|
$ 25,182
|
|
$ 16,342
|
|
$ 51,841
|
|
$ 34,183
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Income from Operations Margin
|
|
7.1%
|
|
5.4%
|
|
7.5%
|
|
5.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Non-GAAP EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income Attributable to TeleTech stockholders
|
|
$ 14,694
|
|
$ 11,616
|
|
$ 33,939
|
|
$ 22,841
|
|
Add: Asset impairment and restructuring charges, net of related
taxes
|
|
2,165
|
|
93
|
|
2,282
|
|
148
|
|
Add: Estimated loss on assets held for sale, net of related
taxes
|
|
1,907
|
|
-
|
|
1,907
|
|
-
|
|
Less: Estimated gain on sale of business unit
|
|
(18)
|
|
-
|
|
(18)
|
|
-
|
|
Add: Changes in valuation allowance and returns to provision
adjustments
|
|
(1,363)
|
|
1,558
|
|
(1,399)
|
|
2,436
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Net Income Attributable to TeleTech
stockholders
|
|
$ 17,385
|
|
$ 13,267
|
|
$ 36,711
|
|
$ 25,425
|
|
|
|
|
|
|
|
|
|
|
Diluted shares outstanding
|
|
46,150
|
|
48,221
|
|
46,224
|
|
48,483
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP EPS Attributable to TeleTech stockholders
|
|
$0.38
|
|
$0.28
|
|
$0.79
|
|
$0.52
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of Non-GAAP EBITDA:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income Attributable to TeleTech stockholders
|
|
$ 14,694
|
|
$ 11,616
|
|
$ 33,939
|
|
$ 22,841
|
|
Interest income
|
|
(695)
|
|
(263)
|
|
(1,121)
|
|
(429)
|
|
Interest expense
|
|
2,912
|
|
1,753
|
|
5,230
|
|
3,717
|
|
Provision for income taxes
|
|
1,597
|
|
2,952
|
|
6,988
|
|
7,480
|
|
Depreciation and amortization
|
|
16,258
|
|
17,221
|
|
30,758
|
|
34,950
|
|
Asset impairment and restructuring charges
|
|
3,593
|
|
114
|
|
3,762
|
|
202
|
|
Gain on sale of business unit
|
|
(30)
|
|
-
|
|
(30)
|
|
-
|
|
Estimated loss of assets held for sale
|
|
3,178
|
|
-
|
|
3,178
|
|
-
|
|
Equity-based compensation expenses
|
|
2,795
|
|
1,825
|
|
4,836
|
|
4,584
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP EBITDA
|
|
$ 44,302
|
|
$ 35,218
|
|
$ 87,540
|
|
$ 73,345
|
|
TELETECH HOLDINGS, INC.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP AHFS/WD Reconciliation (Excluding Assets Held For Sale and
Wind-down) & Year-over-Year (YoY) Growth Rate Comparison
|
|
|
U.S. Dollars in Thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECOND QUARTER
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(three months end, June 30, 2017)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
|
|
|
|
|
Operating Income
|
|
|
|
|
|
|
|
|
GAAP Revenue
|
|
Non-GAAP Revenue Contribution from AHFS/WD
|
Non-GAAP Revenue (excluding AHFS/WD)
|
|
|
|
GAAP Operating Income
|
Non-GAAP Operating Income Adjustments
|
Non-GAAP Operating Income
|
|
Non-GAAP Operating Income Contribution from AHFS/WD
|
Non-GAAP Operating Income (excluding AHFS/WD)
|
|
CMS
|
|
$ 269,056
|
|
$ -
|
$ 269,056
|
|
CMS
|
|
$ 14,075
|
$ 3,579
|
$ 17,654
|
|
$
-
|
$ 17,654
|
|
YoY Growth Rate:
|
26.4%
|
|
|
26.4%
|
|
|
Operating Margin:
|
5.2%
|
|
6.6%
|
|
|
6.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CGS
|
|
$ 32,403
|
|
$ 1,110
|
$ 31,293
|
|
CGS
|
|
$ 2,321
|
$ -
|
$ 2,321
|
|
$
(43)
|
$ 2,364
|
|
YoY Growth Rate:
|
-12.2%
|
|
|
-11.9%
|
|
|
Operating Margin:
|
7.2%
|
|
7.2%
|
|
|
7.6%
|
|
CTS
|
|
$ 34,798
|
|
$ 2,799
|
$ 31,999
|
|
CTS
|
|
$ 3,819
|
$ 14
|
$ 3,833
|
|
$ 117
|
$ 3,716
|
|
YoY Growth Rate:
|
-6.8%
|
|
|
-0.7%
|
|
|
Operating Margin:
|
11.0%
|
|
11.0%
|
|
|
11.6%
|
|
CSS
|
|
$ 17,172
|
|
$ 2,110
|
$ 15,062
|
|
CSS
|
|
$ 1,374
|
$ -
|
$ 1,374
|
|
$ (321)
|
$ 1,695
|
|
YoY Growth Rate:
|
-4.9%
|
|
|
-3.6%
|
|
|
Operating Margin:
|
8.0%
|
|
8.0%
|
|
|
11.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company (Consolidated)
|
$ 353,429
|
|
$ 6,019
|
$ 347,410
|
|
Company
|
|
$ 21,589
|
$ 3,593
|
$ 25,182
|
|
$ (247)
|
$ 25,429
|
|
YoY Growth Rate:
|
15.8%
|
|
|
17.3%
|
|
|
Operating Margin:
|
6.1%
|
|
7.1%
|
|
|
7.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segments Defined:
|
CMS (Customer Management Services), CGS (Customer Growth
Services)
|
|
|
|
|
|
|
|
|
CTS (Customer Technology Services), CSS (Customer Strategy
Services)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP AHFS/WD Defined:
|
Excludes from revenue and operating income i) assets held for sale and
wind-down, and ii) restructuring and integration charges.
|
|
|
TELETECH HOLDINGS, INC.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP AHFS/WD Reconciliation (Excluding Assets Held For Sale and
Wind-down) & Year-over-Year (YoY) Growth Rate Comparison
|
|
|
U.S. Dollars in Thousands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECOND QUARTER (YEAR-TO-DATE)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(six months end, June 30, 2017)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
|
|
|
|
|
Operating Income
|
|
|
|
|
|
|
|
|
GAAP Revenue
|
|
Non-GAAP Revenue Contribution from AHFS/WD
|
Non-GAAP Revenue (excluding AHFS/WD)
|
|
|
|
GAAP Operating Income
|
Non-GAAP Operating Income Adjustments
|
Non-GAAP Operating Income
|
|
Non-GAAP Operating Income Contribution from AHFS/WD
|
Non-GAAP Operating Income (excluding AHFS/WD)
|
|
CMS
|
|
$ 521,135
|
|
$ -
|
$ 521,135
|
|
CMS
|
|
$ 34,671
|
$ 3,585
|
$ 38,256
|
|
$
-
|
$ 38,256
|
|
YoY Growth Rate:
|
18.2%
|
|
|
18.2%
|
|
|
Operating Margin:
|
6.7%
|
|
7.3%
|
|
|
7.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CGS
|
|
$ 66,061
|
|
$ 2,279
|
$ 63,782
|
|
CGS
|
|
$ 4,731
|
$ -
|
$ 4,731
|
|
$ (261)
|
$ 4,992
|
|
YoY Growth Rate:
|
-6.2%
|
|
|
-5.5%
|
|
|
Operating Margin:
|
7.2%
|
|
7.2%
|
|
|
7.8%
|
|
CTS
|
|
$ 70,491
|
|
$ 6,780
|
$ 63,711
|
|
CTS
|
|
$ 6,876
|
$ 177
|
$ 7,053
|
|
$ 489
|
$ 6,564
|
|
YoY Growth Rate:
|
-2.9%
|
|
|
1.5%
|
|
|
Operating Margin:
|
9.8%
|
|
10.0%
|
|
|
10.3%
|
|
CSS
|
|
$ 34,019
|
|
$ 4,487
|
$ 29,532
|
|
CSS
|
|
$ 1,801
|
$ -
|
$ 1,801
|
|
$ (653)
|
$ 2,454
|
|
YoY Growth Rate:
|
0.8%
|
|
|
0.4%
|
|
|
Operating Margin:
|
5.3%
|
|
5.3%
|
|
|
8.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company (Consolidated)
|
$ 691,706
|
|
$ 13,546
|
$ 678,160
|
|
Company
|
|
$ 48,079
|
$ 3,762
|
$ 51,841
|
|
$ (425)
|
$ 52,266
|
|
YoY Growth Rate:
|
12.0%
|
|
|
13.0%
|
|
|
Operating Margin:
|
7.0%
|
|
7.5%
|
|
|
7.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segments Defined:
|
CMS (Customer Management Services), CGS (Customer Growth
Services)
|
|
|
|
|
|
|
|
|
CTS (Customer Technology Services), CSS (Customer Strategy
Services)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP AHFS/WD Defined:
|
Excludes from revenue and operating income i) assets held for sale and
wind-down, and ii) restructuring and integration charges.
|
|
View original content with multimedia:http://www.prnewswire.com/news-releases/teletech-announces-second-quarter-2017-financial-results-300500662.html
SOURCE TeleTech Holdings, Inc.