eTelecare Q1 net income falls
abs-cbnnews.com | 05/16/2008 8:46 AM
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Nasdaq-listed call center operator eTelecare Global Solutions said Friday its net income for the first quarter of the year fell to $1.9 million from $5.2 million a year ago despite strong revenues.The company told the stock exchange that its revenue for the quarter reached $73.2 million, compared toNasdaq-listed call center operator eTelecare Global Solutions said Friday its net income for the first quarter of the year fell to $1.9 million from $5.2 million a year ago despite strong revenues.
The company told the stock exchange that its revenue for the quarter reached $73.2 million, compared to $62.1 million last year.
Revenue from its Philippine operations went up 40 percent year-on-year to $47.4 million.
However, the company said it recorded $795,000 in stock-based compensation expense, which was booked under selling and administrative expenses.
Due to the impact of the strong peso in its business, eTelecare projects a lower net income of $16-$19 million for 2008 as against $23 million in 2007.
It also eyes to generate revenues of $300-$310 million this year.
For the second quarter, it expects to post a net income of between $1.5 million and $2.1 million.
eTelecare operates 13 facilities in the Philippines and United States. Its seven local call centers are located in Mandaluyong, Makati, Muntinlupa, Quezon City and Cebu.
