Startek, Inc. (SRT) Misses Q2 EPS by 22c

Startek, Inc. (NYSE: SRT) reported Q2 EPS of ($0.33), $0.22 worse than the analyst estimate of ($0.11). Revenue for the quarter came in at $63.5 million versus the consensus estimate of $65.25 million.

“The second quarter was highlighted by the acquisition of ACCENT, which meaningfully diversifies our client base and builds on our initiatives to expand analytics capabilities and grow in newer verticals,” said Chad Carlson, President and CEO of STARTEK. “Our integration of ACCENT is tracking ahead of schedule. We now expect the integration to be largely complete by the end of the third quarter, with ACCENT contributing positively to our bottom line in the fourth quarter of 2015. The quick integration of ACCENT can be attributed to the strength of our process-oriented STARTEK Advantage System and leadership team.”

“We are determined to return to profitability,” continued Carlson, “and the objective is to generate free cash flow and pay down debt as we grow the bottom line over the next few years. We are focused on converting pipeline opportunities to increase capacity utilization, stabilize our IT platform and realize cost reductions through operational efficiencies.”

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